Four Must-Have Insurance Plans for Women

Women generally tend to procrastinate when it comes to making financial decisions about their own selves. They are so busy with home and office juggling, they tend to forget themselves. But it is essential for them to think deeply about themselves. Considering the uncertainties of life, it is essential for them to make economic provisions. Life is unpredictable and that’s where the function of insurance comes into the image.

Why not give your wife the safety of her lives and savings. In this blog, we focus on four significant insurance schemes that must be component of a women’s economic kitty to guarantee that they are emotionally and financially ready against life odds coming their way in the form of premature death, illness, disease or ancient age.

1. Term Insurance Plan

   In this blog, we focus on four significant insurance schemes that must be component of a women’s economic kitty to guarantee that they are emotionally and financially ready against life odds coming their way in the form of premature death, illness, disease or ancient age.

   So, in moments of her untimely disappearance, the financial framework and standard of living of the family would definitely be impacted. This is where a solid life insurance policy comes into play as a term insurance scheme. The term insurance plan is a pure insurance plan that will help the nominees in the event of the insured’s early death by financially compensating with the death claim quantity equal to the amount guaranteed under the term policy.

   Term schemes are the most inexpensive type of life insurance. Such pans give a greater guaranteed amount at the cheapest premium cost as only death is covered and there are no maturity frill advantages. Females have a unique price difference and are charged lower premiums compared to men on the grounds of a greater longevity to reside.

2. Health Insurance Plan

   Despite the difficulties, women ensure that the health of their family is always taken care of and often neglect their own health. Unfortunately, they are not very cautious about their health. Increasing heart-related illnesses, gestational diabetes, cancer, reproductive health, depression are just some of the factors that females in India need to look at purchasing a health insurance policy.

   It is frequently noted that females are component of some family floater health policies and very few females take autonomous health insurance policies. It will not only be enough to have a health insurance policy unless you have a solid amount insured under the policy considering your age, previous ailments, place, hospital preference and aggravating health care expenses, etc.

   An individual health insurance plan is vital and will definitely provide you with a cushion effect in the event of a medical requirement or scheduled treatment.

   There is a certain maternity-based health insurance plan that adds value, but is less costly compared to maternity-free health plans. It is advisable to bring such plans right after the marriage phase so that it can give you the most advantages when needed.

3. Critical Illness Health Insurance Plan

   Women’s health problems are distinct from males and need unique attention. But unfortunately, very few females attach significance to their own health. Mostly, females stay ignorant, dependent or busy playing hide and searching between home and office. Women are more susceptible to certain critical diseases such as cancer being one of them. Cases of cervical and breast cancer are increasing in urban habitat owing to many related variables. There are other critical diseases such as CABG, heart attack, multiple sclerosis, stroke, major organ transplant, kidney failure, etc. that females are susceptible to.

   Treatments for any of these terrible illnesses are costly and not accessible to a middle-class family. Cure spending can run readily in lakhs. Here arises the need for a Critical Illness Health Insurance plans that are fixed benefit insurance plans.

   Fixed benefit health insurance plans as the name suggests give a fixed and guaranteed quantity of the claim to the policyholder in the event of an insured event in accordance with the terms of the policy. Such plans give you a lump sum equivalent to the insured sum regardless of your real expenses. Fixed benefit health insurance plans include insurance products such as Critical Illness Insurance Plans, standalone Cancer / Heart Insurance Plans, Daily Hospital Cash plans where the advantages payable are fixed.

   Women with a genetic critical disease must guarantee that they have a critical health insurance plan.

4. Retirement Plan

   Retirement is the second inning of life. Women’s management of children, house, office and what not is on their toes throughout their lives. They hardly get any time to look at their private financing requirements. But timely planning is crucial for their pension corpus. Everyone wants to appreciate the liberty to be financially autonomous and take care of their own expenses in the pension phase. But this comes with adequate retirement planning. Also, according to statistics, females tend to live longer than males, making it all the more imperative to plan for the resources needed in the subsequent phase of life.

   Retirement plans can give you a set pension that acts as a source of your revenue in those days of retirement. Retirement plans come with a life cover and without a life cover. It is up to the policyholder to decide which one to purchase.

A woman’s life makes a difference to so many individuals around her. Therefore, investing in a life insurance policy and establishing a secure future for herself and her loved ones will be the prudent choice.

To know more about Mutual Fund, you can visit our website http://www.jayantharde.com or contact our representative at +91 712 2282029 or meet us at 51, Gurukripa, Old Sneha Nagar, Wardha Road, Nagpur – 440015.