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What is a Women Insurance Plan?

 Women share a equal amount of responsibility as any man in a family. So. it becomes equally important for them to plan their finances and life judicially. Women plans are generally designed for taking care of women’s specific requirements and their needs. This planning will not only help them in managing their finances but also, help them in securing their future and of those who are dependant on them. The planning depends on needs of the women at different stages of her life.

Most of the women insurance plans focus on three kinds of schemes, which can be differentiated on the basis on their earnings and financial status. These are:

  • Working women who have a regular source of income
  • Women who get their in the form of interests, dividends, rent, etc. Their income from these sources is also taxable.
  • Home makers who do not have regular source of income.

    Picture Credit: www.diebeteslifesolutions.com
    Picture Credit: www.diebeteslifesolutions.com

Why Women Life Insurance Plan:

  • To financially secure the future of the family, in case of any accidental death or permanent disability.
  • To make sure that those dependants on you lead a comfortable life, even in your absence.
  • In case of mothers, it ensures a smooth higher education for your child.
  • To get a good retirement plan to plan trouble free retired life by getting a monthly fixed income from your deposits .
  • To take care of the women health in case of specific women problem like pregnancy etc.

 Best Women Insurance plans by different banks:

 1. HDFC Life Smart Women Ulip:

  •  The police covers key life altering movements in woman’s life like child birth, critical illness or unfortunate death of the spouse.
  • Depending on the variant chosen, the product allows a woman to stop paying premium for three years in case of pregnancy complications, birth of a child with congenital disabilities, diagnosis of malignant cancer of female organ or death of spouse.
  • This policy is costlier when compared to mutual funds like any other Ulip and less flexible too. The charges on ULIP’s have reduced so as on term plans and also on mutual funds. It would be better for the investors to look at insurance and investment decisions separately.

 2. TATA-AIG’s Wellsurance Plan:

  •  This policy is a combo plan for hospitalization benefits and also critical illeness cover.
  • It pays a lump sum amount if the policy holder is diagnosed with any of the 11 specified critical illness including cancer, heart attack, stroke and kidney failure.
  • It also pays out a daily cash benefit in case of hospitalization.
  • But this kind of policy should be taken additional to basic health plan that covers hospitalization.

 3. Bajaj Allianz’s Critical Illness Cover:

  • This policy covers 8 critical women illness like paralysis, cancer ( liver, breast, mouth, ovarian, cervical, vaginal and fallopian tube) etc,.
  • The treatment protocol is not only lengthy but also very expensive and also involves lots of lifestyle modifications such as giving up the job, ergonomic modifications at home etc,.
  • The need for the product is specifically targeted this segment.


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Ojaswita Pandey
Ojaswita is a Content Writer at Paisa Matters a Financial Advisory and an MBA in Finance. She reflects traits of personality including ambition, and quality of generosity and thoughtfulness. She is motivated by her interest for learning and succeeding as she strives to become an outstanding and successful woman in the society of present age. Her definite goal of becoming a wealth manager for banks becomes her lifetime achievement besides living with a motto of “Live and let Live”.