Posted By: Admin
Women have played a significant role in household finances across India. From traditional job profiles like a housekeeper, chef, and daycare teacher, yoga instructor, to evolved profession like network administrator, analyst or a doctor – a woman performs all and more ! Though most women believe in saving money, very few actually buy life insurance for themselves or their families.
Our society has progressed a lot. From only the husband or father being the breadwinner, in most families women work, and she co owns the family in terms of finance too. So, buying life insurance is equally important for women too. This is to secure her loved ones, to save for their life goals, when they are not there. In case of an unfortunate event, life insurance is one such financial instrument that can protect their family’s financial security to ensure stability.
In this women’s month, I would like to shed some light on the basics of life insurance plans, that are suitable for women for their financial goals and security, at the various milestones of their life stages.
A Terms plan is the most transparent, straightforward, and cost effective of all the insurance options. It provides the policy holders a comprehensive life cover over a defined period of time at cost effective premiums. While buying this, please analyze your income, future income, and your current liabilities to identify your total sum assured. Last but not least, there is also a need for a sound financial plan to help women recognize their short and long-term needs. Pure terms plan serves one part of this.
Reach out to FInsherpa for your assessment of Term Plan needs.
Senior Sherpa, Finsherpa Investment Services