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Insurance for the Woman of Today
Mar 08, 2013 | 152 VIEWS

In today’s age where people are talking of equality among sexes, should Women’s Day be a cause for celebration? Does it mean that other 364 days are Men’s Day and Women gets to rule only one day? Starting from Mother Teresa to Indira Gandhi, Indra Nooyi to Sania Mirza or Ritu Kumar, the list of powerful women is endless but still women are treated as a weaker sex.

Be it in office or maintaining the home, it is the woman’s responsibility to balance the two wonderfully. Women not only support their families psychologically, but also financially. And therefore, women should have a higher insurance cover than men. But the fact remains that more men are insured than women and men have a higher cover than women.


Insurance for Women

The difference between insured men and women is still more than 16% of the total population that has life insurance coverage. To bridge this gap, there are certain policies which attract female policyholders by offering them lower premium rates like Max New York Life Platinum Protect Plan, SBI Life Saral Shield, Aviva Life Shield Plus, Met Protect Plan, Kotak Term Plan, etc. This has been possible since women have a lower Mortality Rate than men, i.e. they are stronger and they live longer.


Mortality Rate is defined as the number of people per 1000 individuals dying in a particular period. Women have a lower Mortality Rate, means that the number of women dying per 1000 people is less than number of men dying per 1000 individuals in a particular period.


The policies mentioned above are pure Term Plans that offer discount on female lives, as the primary objective of a term plan is protection. Therefore – Women Hurry Up and buy a term plan now to protect your family from any financial uncertainty. Industry reports suggest that this discount may be discontinued for fresh policies since the gap between insured men and women is already narrowing down.


Disability Insurance for Women:

Even when it comes to Disability Insurance and Personal Accidents Policies, women lag far behind since women don’t indulge much into water sport activities, mountaineering, motor racing, etc. Hence, if you are a woman and you drive your own car, just ensure that your motor insurance and your life insurance papers are in place before you hit the road.


Health Insurance for Women

A comprehensive Health Insurance is as important as a life insurance cover. Many ailments such as arthritis, spondylitis, deficiency of haemoglobin, etc affect women at an early age and a good medical cover can help them take care of the treatment costs. Moreover, a good health insurance cover comes handy at the time of maternity and child birth. Some of the health insurance policies offer maternity benefits, new child birth benefits, pre and post natal care and a lot more coverage. Exclusive health insurance companies like Apollo Munich, Max Bupa and Star Health have policies like Star Wedding Gift, Apollo Munich Easy Health and Max Bupa Heartbeat which have become very popular due to their maternity benefits.


Deepak Yohannan
Deepak Yohannan is the CEO of MyInsuranceClub. He enjoys writing on Personal Finance and contributes regularly on sites like Reuters & Moneycontrol. He is a strong proponent of online insurance and is often found pointlessly babbling about it!

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