Insurance plan is necessary for all, but it is all the more essential for working women. If she is the sole earner of the family, she cannot take risks. She needs to be prepared for the financial fortification against uncertainties of life.
A life insurance or term insurance not only protect you but also gives you the facility of tax savings. She needs to think of her family in her absence. Her family should be financially independent in case of an unfortunate event. A term insurance plan gives a substantial coverage at affordable premiums and offers various facilities such as:
Acts as financial cushion
It provides financial cushion to the family of working women, in case something unfortunate happens to her. The sooner you opt for it, the higher you get coverage. You just need to pay an annual premium. You can even calculate the premiums to be paid by using an online term insurance premium calculator. If any unfortunate happens, your family will get the money for day-to-day expenses.
Address liabilities incurred in form of loans
In case you have taken a loan for buying a home, car or funding higher education for children and every month EMIs are deducted from your salary, it will be difficult for your family to bear the same after your death. They can easily get rid of the liabilities with the money from term insurance.
Alisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health. She has in depth knowledge and has written more than 1200 blogs on topics related home and car insurance. She also provide you with knowledge about home improvement and cooking.