Best Term Insurance Plans for Housewives and Home Builders in India | PayBima

Term Insurance Plans For Home Builders And Women

If you’re a homeowner and feel like you shouldn’t buy insurance, well, it’s time to think again. In today’s uncertain times, everyone is vulnerable and has the right to secure their future through insurance. And when we talk about a housewife, she really needs to protect the future of her family – for whom she works tirelessly and takes care of them. When a tragic accident happens, who can support his family as best he can? While a homemaker’s absence is almost impossible to replace, a homemaker’s long-term insurance policy may try to provide financial support to her bereaved family.

In this post we will discuss why a housewife plan can make sense and some of the best term insurance plans for housewives in India so that their loved ones have someone to rely on.

Why Maternity Insurance: Reasons and Benefits

If you are still not convinced, here are some good reasons why a home insurance plan is a good idea:

  • It protects you and your loved ones financially – Since your spouse takes care of all the household expenses, it makes sense for them to buy insurance, right? Wrong! You’ve agreed that your home loan is difficult right now; however, your family still needs you – now and in the future (you don’t). Your children’s education expenses should continue to grow, just like the rest of your household expenses. Buying a term insurance plan can provide great financial support to your loved one in their absence. And, of course, in the event of an unexpected unexpected event such as an accident, insurance can help cover your health-related expenses that you incurred at that time.
  • High quality coverage at affordable prices – It doesn’t get any better than this. Term insurance for housewives in India promises wider coverage and more sum assured, all at very affordable rates. Since premium rates increase with age, it is recommended that you purchase your plan as soon as possible to get the most benefit.
  • Passengers can also be added – Not only does your long term insurance provider provide you with more at a lower cost, you also have the added benefit of adding additional riders or add-ons to your basic plan. For example, long-term insurance for housewives can be upgraded to include a Rider for Accidental Disability, a Rider for Death by Accident, or a Rider for Critical Illness.
  • They also provide tax benefits – Another reason to consider buying term insurance for housewives. According to the Income Tax Act, 1961, Section 80-C, the amount paid in your plan is eligible for tax deduction, including the critical illness rider.

Best Insurance Plans for Housewives in India

We hope that the above section helps to answer the question – “Can we take long term insurance for housewives?” Now that you have evaluated all the advantages of this option and made up your mind, let’s have a look at some of the best life insurance plans for housewives offered by some insurance companies in India.

Plan Name Policy Term Entry Age for Housewives Max Maturity Age Minimum Guaranteed Income Premium Payment Period for Policyholder
SBI Life Smart Humsafar 10-30 years At least 18 years old

46 years at most

65 years old Rs. 100,000 Annual, semiannual, quarterly, and monthly payments
Bajaj Allianz iSecure 10-85 years (excluding entry age) 18 years min.

65 years max.

85 years old Rs. 25,00,000 A year, six months, a quarter and a month
Aegon Religare iSpouse 5-65 years 21 years min.

60 years max.

65 years old Rs. 25,00,000 Year and month
PNB Metlife Mera Term Plan 10-99 years (excluding entry age) 18 years min.

65 years max.

99 years old Rs. 10,00,000 A year, six months, a quarter and a month

How to Buy Term Life Insurance for Homeowners?

If you have decided to buy a regular insurance policy as described in the table above, it is best to first get the premiums for the policy. This can help you make a wise choice.

You can calculate this in a few minutes using the term insurance premium calculator online. It is a simple automated system that based on some of your requirements like Gender, Date of Birth (to calculate your age), Lifestyle Habits (like tobacco/alcohol) and preferences (in Rupees) the selection process. Once you’ve done this, the calculator will give you an estimate of how much you’ll pay for term insurance.

PayBima offers a life insurance calculator. Visit its website for more information and to know the exact duration of Indian women’s insurance.

Also Read: Max Life Independent Term Insurance Plan for Homemakers

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