Insurance Schemes for Women
Mumbai: As more and more women enter the work force, they become significant target for Insurance companies.
Thirty-year-old Ruchi not only works as a public relations manager but also manages her home. She has recently taken an insurance policy for herself.
"I am the only daughter. I am responsible for my parents," said Ruchi.
With more and more women entering the work force, insurance companies are coming out with schemes specific for women like Ruchi.
LIC's Jeevan Bharti is one such policy. It covers not just critical illnesses but also Congenital Disabilities in children born to the insurer.
Jeevan Bharti also allows you to claim the full sum insured after paying the premium for just the first two years.
Under the profit sharing insurance cover model, LIC will also provide you with a share in its profits once you have paid the premium for five years.
Allianz is another insurance company, which provides health benefits to women apart from just insurance cover through its policies.
Moreover women even get a two-year waiver in the premium rates as against men.
That means a 30-year-old woman needs to pay the premium applicable at 28 years of age.
Some companies even allow non-smokers among women to pay lesser premiums.
As of now the existing mediclaim policies provide only one third of the insured sum in claims related to serious illnesses like breast cancer.
However, given the recent spurt in scheme designed exclusively for women, women can expect a better deal in the future.