Life Insurance Tips

7 Reasons Why Women Need Life Insurance Policies

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Are you a working woman or a homemaker? Are you married or a single mother? Well, these are some questions women face while trying to apply for life insurance policies. All of these are merely to understand the kind of financial responsibility a woman bears and the kind of coverage that will be best suited for their future interest.

The advantages of having life insurance for women

If you believe that women don’t require life insurance, here are a few reasons that can change your perception.

  • Financial security for the future

Women are the pillars of a household, and her absence is irreplaceable. Although a mother may not be around to see her children’s milestone achievement, a life insurance policy will help render financial security for her kids. As per the regulations of death benefits, life insurance will offer a lump sum amount to the dependents after the mother’s death. In this way, a woman can create a financial reserve for her family even when she isn’t around.

  • Enjoyable Tax benefits

According to the Income Tax Act, under section 10, section 80C, women paying life insurance premiums will receive a tax deduction on their annual income. There are multiple tax benefits of life insurance policies for women. Any payment received from the death benefit or any loan applied against the life insurance policy is exempted for tax paying.

  • Safeguard for unforeseen circumstances

As a working woman, if you are sole bread earner for the family or share a significant contribution to the financial expenses of running a household, an unforeseen situation like permanent disability or death can become a bottleneck in your life and impact your loved ones. Under such circumstances, life insurance renders impeccable benefits to share the financial burden by providing a complete payment of the assured amount.

  • Retirement benefits

Do you want to have some enjoyable golden years during your retirement phase? Life insurance policies can transform your dream into reality. These policies can become a monthly income source for your retirement life, so you need not worry about the financial strain your family has to bear after your retirement.

  • Low-cost premium rates

An exciting aspect for women to get life insurance is the much cheaper premium rates in comparison to men. Such a lucrative premium policy is set to entice women towards availing the policy and reap its benefits for life long.

  • Aiding in the multiple expenses of single parent

As a single mother, there are no boundaries to the number of expenses a woman has to bear, starting from looking after the dependents’ well-being and balancing household. She is the sole earner to repay off the debts and loans. Hence life insurance can be beneficial to share the expenses, and in your absence, help your dependents have a smooth course of living.

  • Sharing financial burden for homemakers

The absence of a stay-at-home mom not only creates an emotional void but increases financial expenses as well. The father becomes solely responsible for looking after the children and household chores but often fails in multitasking due to immense workload. As such, hiring nanny, cook, or maid are additional expenses to the existing ones. But if a stay-at-home mother opts for life insurance, then even in her absence, she can help her loved ones.


Breaking the stereotype rules of the society, today, women are equally competent as men in the workplace. So no matter whether they are single parents working from 9-5 or remotely, an executive leader in the corporate world, a stay-at-home mom, or someone who is balancing work and home simultaneously, life insurance is now a necessity for the women.

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