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How Important is Insurance For a Working Women?

  7/31/23 11:01 AM

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“Hi I am Amita, being a woman, I feel that the world is changing pretty fast, and one of the catalysts for such a change is woman! Today, this fair species that I belong to is finding their place under the sun and are contributing equally and sometimes even more than their male counterparts, both at home and at their work fronts. No matter which industry we are part of, we are making a substantial and positive difference, and our importance can’t be denied anymore. And this is not a conceited voice; this is a statement of confidence.”

Thus, the financial loss that a family goes through after losing an earning male member equates to the trouncing period, which occurs when a family loses a female earning member. Insurance for women, therefore, should be a stipulation, and not just a forum to invest surplus funds.

Whether it is a life insurance cover or any other insurance, working women need it all and following are the very valid reasons which I am going to put down here:

1. Safeguard the Family

When the man and the woman of the family are earning professionals, their financial contributions are equally important to meet the needs of a household. If the woman is enveloped in a mishap, the income is deteriorated, lifestyle changes happen, and the entire family, including the kids, spouse and parents get affected in an adverse manner, both emotionally and financially. Women are also prone to woman specific critical illnesses such as breast cancer and the rising costs of treatment create a chaos in the family’s overall budget. Therefore, it is imperative that women should invest in a term plan with a critical illness rider to secure her health and the family’s future.

2. Meeting Daily Needs

People joke about women being the so-called finance ministers of a family with total control over the household budget. You may laugh about it, but the fact is women do plan every little expense and are known to generate savings even from the impossible situations. With the right kind of insurance plans, a working woman can not only save money for the urgent day to day financial needs but can also plan for the future.

3. Generate Wealth

There are insurance policies in India that cater specifically to women. With success at the work place, women have seen a steady rise in their earnings. They can invest that money in ULIPs which will provide returns after a specific period. With the maturity benefits of ULIP, women can plan important milestones in their life like the marriage of a child or their higher education or something for themselves like starting a new venture! So not only they get to save, but they also get life protection as well as tax benefits!

4. Old Age

No matter how well a spouse is earning or investing for old age, regular savings may not be sufficient post-retirement can never be enough with the cost of living going up on a regular basis. With women getting discounts on various insurance plans, they can invest accordingly to ensure that even after retirement, there is enough corpus. Also, in case of husband passes away without much of savings or investments, a woman can live independently on her own with her savings and investments.

Why should only a husband leave his legacy in terms of financial benefits for his family?

A woman would equally want to leave something behind for her kids and family so that their life is easy in her absence. If she is a working woman, her income helps her children to live a certain kind of a lifestyle. With a term plan like Edelweiss Tokio Life – Zindagi Plus, a better half benefit she can ensure that when she is not around, her children must live a decent and dignified living.


Siddhant Dubey - Writer & Photographer

Siddhant works as a freelance content writer who is interested in a wide range of spheres from photography and personal finance to cooking. He is also an aspiring photographer striving to showcase life around him through his vision.

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