5 Best Life Insurance Plans for Women in India 2016


5 Best Life Insurance Plans for Women in India 2016-17 insurance

Financial planning is important for everyone who shoulders responsibilities for his/her family. If you are a self-empowered woman, financial planning is very crucial for you. Having a life insurance plan can help you secure your ways against financial uncertainties and systematically plan for the important goals of your life.

The insurance market is changing drastically and to meet the need of their customers, the insurance companies are also coming up with a wide range of products. Keeping the requirements of women in mind, the following 5 insurance plans are introduced by the respective companies. Here, let’s briefly discuss the various features and benefits of the plans.

In order to cater to the insurance needs of women, SBI Life has launched Smart Women Advantage Plan, which is a traditional participating endowment assurance plan. The plan provides the dual benefits of saving sand protection to a woman. The buyer can choose according to their own convenience between Gold and Platinum plan. The plan is most beneficial for those who want a threefold financial coverage including life cover, long-term savings, and critical illness benefits. The key features of the policy are highlighted below-

This plan is a unit linked insurance plan specially designed for women.  This is an investment plan that provides coverage to a woman against pregnancy complications, female specific cancer and so on. As this is a ULIP product, the policyholder has to bear the risk associated with the investment. The plan offers the sum assured equal to 40 times the annualized premium. The benefits offered HDFC Life Smart Women ULIP are highlighted below-

This is a traditional participating saving plan which is designed especially for women. The plan focuses mainly on covering the huge expenses of marriage. Shriram New ShriVivah Plan pays out a lump sum amount in case of the unfortunate demise of the insured person helping the family to reduce their debt. One of the major benefits of this plan is that along with the maturity benefit, it offers double life insurance cover as well as regular income. The key features of the policy are as follows-

This is a life insurance policy specially designed for women. LIC Jeevan Bharathi-I is a money back plan. An advantage of this plan is that the payout amount can be used to purchase an annuity on the policy maturity. Under this plan, the premium needs to be paid for the entire policy tenure of 15 to 20 years and the survival benefit of 20% of the sum assured are paid every 5 policy years. On maturity of the policy, the remaining sum assured amount, accrued reversionary bonus and the final additional bonus is paid to the insured. For your knowledge, here we have highlighted the key features of the policy:-

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This policy has been specially designed to secure women. The policy provides protection against specific illness and other benefits. Moreover, the plan also provides benefits by covering hospitalization expenses and children’s education benefits in case of accidental death. The benefit amount is paid to the insured if the woman insured is diagnosed with any of 11 special critical illnesses. Besides, the life coverage is extended to all the members of the family.

To help you know more about the plan, here we have mentioned some of the key features of the policy.

In today’s time,it is important for both men and women to have a life insurance policy. With the help of the above discussions, you can compare the plans as per their features and benefits. It is always best to do a thorough research and choose the best-suited plan for you as per your affordability.