Life Insurance is not for Housewives? is this true…….no no..a big no…..there are life insurance policies for housewives too….have a look…and select for you
Today, society has finally acknowledged the importance of women. It has managed to make an entry through the walls to give some security to women who are working at homes. Women are already keeping pace with their counterparts males and in the recent few decades, the society also has witnessed a sea change in the outlook towards women. The traditional Indian housewife image has now undergone a metamorphosis change in the few decades. Today, Indian women are working equally with male counterparts and are also in top positions in corporate houses, besides being a great home maker. Thus go for Life insurance for housewives.
Need for insurance cover
A housewife is a woman who has no fixed hours to work and she also has the responsibility of keeping everything perfectly. She cooks, does laundry and also keeps the house clean, helps kids in studies and lots more. This is the reason that the salary of a male seems to be enough. If the housewife is no more, there will be emotional loss and also a huge financial distress. Thus as a perfect homemaker, a housewife deserves an insurance cover through life Insurance for Housewives so that she is protected and guarded against unexpected situations. The services of a housewife are undervalued. However, the impact of losing her also disturbs your budget.
Role she manages
A housewife is the multi-tasker who handles the hat of a cook, laundry person, housekeeper and many more. In fact, she contributes the most to the family income. In case she is lost, you just cannot imagine handling the regular chores or you have to pay Rs 20,000-30,000 to a full-time maid as a salary. The child care is the biggest expense that a family has to bear in the absence of its mom. She teaches children and in her absence you also lose a teacher and hiring private tutor is again going to add to the cost and will not be available for free. A housewife does a lot of work which helps a household save money. A fact that fails to get noticed is her work. If the housewife possesses a life insurance, the death payouts may be utilized to bear expenses. Proper coverage from life Insurance for Housewives should be an imperative part of the regular budget.
Right Coverage for a Housewife
Most insurance companies avoid selling insurance to housewives. However, housewives can pick from endowment, money back plans, pension or ULIPs. Opting for a plan offering sufficient cover at a low rate is recommended. For instance, in case the earning spouse annual income is Rs 20 lakh/annum, Rs 5 lakh cover is sufficient for a spouse who is non-working.
Since women are continuously on the run for their homes and sometimes for outdoor work, it is essential that the woman’s health remains in good shape. Today, in India most insurance companies are coming with insurance policies tailored for housewives. This includes life and health insurance policies for housewives.
Few important Life Insurance for Housewives are:
- Easy Health Individual Plan:This is offered by Apollo Munich, a comprehensive health insurance plan. The plan includes health benefits offered by other plans and maternity benefits appropriate for pregnant women.
- JEEVAN BHARATI-I (PLAN No. 192): LIC India launched this exclusive insurance policy for housewives. This is a money back policy and is also good for working women. The benefits include optional Accident Benefit, Congenital Disability Benefit and Critical Illness Benefit. The maximum and minimum insured amount received is 50,000 and 2,50,000
- Vijaya Raji Janani Kalyan Yojana:This insurance type was introduced by United India Insurance Company keeping in mind the welfare of women in the Madhya Pradesh state.
- Swayam Shakti Suraksha:This is the best insurance policies for Indian women. This represents a joint venture between a microfinance company, SKS Finance’s Bajaj Allianz and Swayam Shakti Suraksha supporting nearly 1 million women. The policy supports 3.6 million rural Indian women across 18 states. This also is regarded to be the cheapest policies and this plan tenure is for 5 years. The advantage is that the policy may be begun with a minimum Rs.500 as depositing amount.
The recognition in the society for the housewives must be given by ensuring life security for them through life Insurance for Housewives.
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