Nowadays, women are working outside the home, earning their own money, and supporting their families. But what if something happens to them tomorrow? That’s why taking out term insurance is very important – it’s the cheapest and simplest insurance that provides a large sum of money to the family.
Some plans are even better for working women because they offer extra benefits like maternity benefits or critical illness cover. Let’s take a simple look at the top plans and why you should choose them!
Why is Term Insurance Important for Working Women?
Working women are becoming the financial backbone of their families. If their income stops, it becomes difficult to run the household. In term insurance, the premium is very low, and in case of death, the family receives the entire sum assured – tax-free! Plus, you can add critical illness or maternity cover to some plans, which is useful for women.
Top Term Insurance Plans for Working Women
Here are some popular and reliable plans that are good in terms of coverage, premium, and extra benefits:
HDFC Life Click 2 Protect Super
This plan is flexible – it has a return of premium option, and you can add critical illness cover. Women get lower premiums because their life expectancy is higher. The claim settlement ratio is above 99%.
ICICI Pru iProtect Smart
This plan provides extra cover for maternity complications and women-specific illnesses (like breast cancer). You can also add accidental death benefit. Everything is managed through the app, and the premium is very competitive.
Max Life Online Term Plan Plus
Large coverage is available at a low premium. It has a critical illness rider and a waiver of premium option. Working women can also choose a monthly income payout, which provides money to the family every month.
SBI Life eShield Next
This plan offers options for level cover, increasing cover, or return of premium. There are also good rates for female smokers, and a terminal illness benefit is provided free of charge.
Bajaj Allianz eTouch II
Includes coverage for women-specific critical illnesses, and you can also add a child education benefit. The premium is very affordable, and the claim process is fast.
Which Plan Should You Choose?
- If you need maternity or women’s diseases cover → Check out ICICI Pru or Bajaj Allianz.
- For high coverage at a low premium → Max Life or HDFC Life.
- If you want a return of premium (money back at maturity) → HDFC Click 2 Protect or SBI eShield.
To calculate the premium, you need to provide your age, income, and health – non-smoking women get the cheapest rates!
| Plan Name | Coverage Options | Extra Benefits | Claim Settlement Ratio |
|---|---|---|---|
| HDFC Click 2 Protect Super | Up to 1 Crore | Critical Illness, ROP | 99.5%+ |
| ICICI Pru iProtect Smart | Above 50 Lakhs | Maternity & Women Illnesses | 98.5%+ |
| Max Life Online Term Plan | Up to 2 Crores | Waiver of Premium | 99.6% |
| SBI Life eShield Next | 1 Crore+ | Terminal Illness Free | 98%+ |
| Bajaj Allianz eTouch II | Up to 1 Crore | Child Education Benefit | 99%+ |
Pros and Cons
Pros:
- Very low premium – coverage of crores for Rs. 500–1000 per month.
- Family receives a large tax-free sum.
- Extra riders for maternity and critical illness cover.
- Easy to buy online, no agent hassle.
- Women get lower rates.
Cons:
- Nothing is received at maturity (except in ROP plans).
- A health checkup may be required for high coverage.
- Smokers have to pay a higher premium.
- Nominees have to provide documents for claims.
Conclusion
Taking term insurance is a smart move for working women – the family will be secure, and the premium won’t be a burden on your pocket. HDFC, ICICI, or Max Life plans are the most popular because they are reliable and offer extra benefits.
Check the premium using an online calculator based on your age, salary, and family needs, and get a policy soon. Tell me in the comments which plan you liked or if you have any doubts!
