Buying life insurance is one of important financial decisions as per your needs and requirements. You can do to secure your family’s financial future by buying life insurance policy. However, woman is backbone of family, whether earning member or home-maker, opting for insurance policies is must. Here are four important insurance policies that women must think for themselves and their family.
Term Insurance Policy
Term Plan is important policy for any working woman or man. Also, term insurance premium is low from female as compared to male. In case, if woman is single mother with small child or has older parents to take care of, it is must to have product for financial protection of family. This term plan will come for minimum premium amount and covers you for longer period of time.
On demise of policyholder, total sum assured is paid to nominee in one go. There are many term plans available in market, and different insurers are now providing many benefits and riders. Like, critical Illness cover, Cancer Cover, Disability due to accident etc. which suit as per need of working women. Check 10 main things you need to know about tax saving fixed deposits
Policy of Health Insurance
Health insurance is another important insurance that any woman must consider for herself. Due to lifestyle and stress-related issues, there are number of diseases rising in life. So it is very important to invest in good health policy. But every working woman has health cover provided by their employers but they must be aware of fact that cover end once employment does.
Also, you may opt for super top-up health Insurance plan, which covers medical expense beyond doorstep or you can choose deductible. And these Super Top-Up plans premiums are as low as one-third to half of normal premium. Every year healthcare cost is rising, so you must look at least Rs. 5 Lakhs cover to buy to prepare for any medical emergencies.
Policy for Cancer Insurance
Cancer is much-dreaded word has slowly moved in our lives. According to WHO report, cancer is second cause of death in world. In past few years, most common kinds of cancer among women are breast cancer, ovary, lip and oral cavity, lung and cervix. Read 5 Important reasons why women need life insurance.
Hence, for woman buying cancer insurance is very important. As per rise in cost of cancer treatments, like chemotherapy, hospital charges and treatment cost can be harmful to family financial condition. Woman is backbone of family and it is important to protect her by taking right kind of cover for her. You must read 5 steps woman must keep in mind when planning her finances
Unit Linked Insurance policy
If you are looking for your long-term financial goals such as, children education or building retirement amount etc., ULIPs is best investment tool to fulfill your goals. Unit Linked Insurance Plans is mixture of insurance and investment products. Hence, it helps you to save over period of time and also provides coverage against any unforeseen situations. Also read Best ways to improve financial security for women.
Best features in ULIP Insurance
There are two kinds of funds in ULIPs, namely Debt and Equity which gives you flexibility to invest on your risk appetite. One of best features in ULIP of insurance is that you can switch between funds (Equity to Debt to Equity) free of cost with unlimited times during market fluctuation. It gives you safeguard to your investment and this attached with tax exemption on premium paid and on return amount.
ULIP is one of best form of investment to make amount. It is great option for women, who have higher income as returns. These ULIPs are good if you invest for more than 10 years. If you think above insurance policies, then make sure you research well and compare before you invest in plan that fulfils your needs.