Is life insurance necessary, considering the fact that one has to pay premiums regularly? May be not that important now, but will be a great help in future. Insurance is often mistaken as an investment product. It is a product which gives protection benefit. On buying a life insurance policy you feel that your life is secured. It helps you when you need the financial support during crisis. While parking our surplus funds for retirement we only consider those products which give returns at regular intervals. Most of the times we forget to insure our life.

Is life insurance needed for women? A woman needs to be monetarily independent, as she has to manage her career, bring up her family, and take care of her aging parents. A woman who is the single parent taking care of her children must be insured. In her absence her child will not be financially deprived. A working woman who financially supports the family must also be insured. The insurance policy will help to fill the financial gap in her absence. And a home maker must be insured as her services are priceless.

However, not many women are insured. There are only two companies in India which offer life insurance policies for women. The two companies are Bajaj Allianz Life Insurance Co. Ltd. and Life Insurance Corporation of India. Bajaj Allianz Life Insurance Co. Ltd. offers two different policies for women - Bajaj Allianz House Wives and Bajaj Allianz Working Women where as LIC offers Jeevan Bharathi.

Both these policies are designed specially for women. Bajaj Allianz Life Insurance Co. Ltd. covers Critical Illness Benefit, Reconstructive Surgery Benefit for Breast (s) due to Breast Cancer, Congenital Disability Benefit and Complications of Pregnancy Benefit. LIC of India covers Female Critical Illness Benefit and Congenital Disability Benefit.

Another advantage that women get is they have to pay low premium on life cover as compared to men as the mortality rate is higher in the former.

Women in India must insure their life as tomorrow is uncertain. Insurance helps to live a carefree life.