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What Our Plans Cover
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Death benefit
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Terminal illness acceleration on m...
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Optional critical illness rider
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Optional accidental death benefit...
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Optional waiver of premium on disa...
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Cover unaffected by maternity or a...
Who Can Consider This Plan?
- Entry age typically 18 to 65, with cover ceasing between 60 and 85
- Demonstrable income — the sum assured must be justified by earnings
- Full disclosure of health, smoking, alcohol use and family medical history
- Medical examination, usually required above a threshold age or sum assured
- Indian resident or NRI, subject to the insurer's country rules
What May Not Be Covered?
- Suicide within the first twelve months
- Death from material facts concealed at proposal
- Sums assured beyond what income underwriting supports
- Undeclared hazardous pursuits
- Any survival or maturity benefit
Always check the policy wording before you commit.
Why Choose Wealth & Covers?
- Expert advice to choose the right plan
- Plans from leading insurance companies
- Hassle-free process and documentation
- End-to-end support, including claim assistance
- Dedicated relationship manager
Our Insurance Partners
- Star Health Insurance
- Care Health Insurance
- Niva Bupa Health Insurance
- HDFC ERGO
- ICICI Lombard
- Bajaj Allianz
We represent multiple providers to help you find the most suitable option at the best price.
- Expert Guidance Personalised advice from experienced insurance professionals.
- End-to-End Support From choosing the right plan to claim assistance, we are with you always.
- Claims Assistance Hassle-free claim support to ensure you get what you deserve.
- Transparent Process Clear information, easy documentation and a hassle-free experience.
Overview
Women live longer than men on average, and life insurance is priced on mortality. The result is that a woman generally pays less than a man of the same age for the same sum assured — often eight to fifteen per cent less, and the gap widens with the term.
Despite that, working women are consistently under-insured relative to their contribution to household income. The pattern we see most often is a household where the husband holds substantial cover and the wife, earning comparably, holds a fraction of it or none.
The financial logic does not distinguish. If your income supports dependants, servicing a loan or funding education, the loss of that income is the same problem regardless of who earns it. The correct approach is to size both policies against both incomes.
Who should consider it
Any woman whose income contributes materially to a household — which in a dual-income family is nearly always. Any woman servicing a loan, whether solely or jointly. Single women supporting parents or siblings.
It is particularly worth reviewing where a joint home loan exists. Joint borrowers are jointly liable, and cover on only one of them leaves the other holding the whole obligation.
Benefits
- Lower premiums than a man of the same age and cover, reflecting mortality data
- The same sum assured therefore costs materially less over a long term
- Riders for critical illness, including women-specific conditions on some plans
- Cover continues unaffected through career breaks and maternity
- Section 80C on premium; death benefit tax-free under Section 10(10D)
- Protects a jointly held loan from falling entirely on the co-borrower
What is covered, and what is not
Read the right-hand column first. It is the one that decides whether a claim is paid.
Typically covered
- Death benefit — the full sum assured to the nominee
- Terminal illness acceleration on most plans
- Optional critical illness rider, sometimes covering women-specific conditions
- Optional accidental death benefit rider
- Optional waiver of premium on disability
- Cover unaffected by maternity or a career break
Typically not covered
- Suicide within the first twelve months
- Death from material facts concealed at proposal
- Sums assured beyond what income underwriting supports
- Undeclared hazardous pursuits
- Any survival or maturity benefit
- Death during a lapse in cover
Inclusions and exclusions vary between providers and between plans from the same provider. The wording in your own policy document is what governs — we will walk you through it before you buy.
How it works with us
- 1 We work out the cover, before the plan Income, liabilities, dependants and the years they need supporting. The sum assured is the decision; the brand is a detail.
- 2 Underwriting reality check Health, occupation, smoking and family history decide who will accept you and at what price. Better to know now than after a rejection.
- 3 Two or three quotes with the claim record attached Premium matters, but so does the insurer's claim settlement history and how it treats early claims.
- 4 Proposal, medicals and financial underwriting Medicals are arranged at home. For larger cover the insurer will also want income proof — we prepare that file properly.
- 5 Policy issued, and your family knows where it is A term plan nobody can find is a term plan that does not pay. We make sure the nominee has the details.
Important considerations
The things a brochure tends to leave out. Read these before you decide.
- Size the cover against your own income and liabilities, not as a fraction of your spouse's policy. Two earners means two exposures.
- On a joint home loan, both borrowers are liable for the whole amount. Cover on one of you leaves the other carrying the full obligation.
- Buy before a planned career break rather than during it. Underwriting is simpler while income is current, and an in-force policy is unaffected by the break.
- Women-specific critical illness riders vary widely in what they actually define as claimable. Read the definitions rather than the rider name.
- The premium advantage compounds over a thirty-year term. It is a reason to buy the full cover you need, not a reason to buy less of it.
Documents required
- Completed proposal form with full health and lifestyle disclosure
- Identity proof — Aadhaar, passport or PAN
- Address proof
- PAN card, mandatory for life insurance
- Income proof — salary slips, Form 16 or filed returns
- Bank statements, for larger sums assured
- Medical reports, arranged by the insurer
- Recent passport-size photograph
Frequently Asked Questions
Why is the premium lower for women?
Because life insurance is priced on mortality and women live longer on average. It is an actuarial difference rather than a concession, and it typically runs to eight to fifteen per cent for the same age and sum assured.
Does maternity affect my policy?
An in-force policy is unaffected — cover continues normally through pregnancy and afterwards. If you are applying while pregnant, some insurers defer underwriting until after delivery, which is a timing question rather than a refusal.
What if I take a career break?
An existing policy continues unaffected as long as premiums are paid. Buying new cover during a break is harder, because financial underwriting relies on current income — which is a good reason to arrange cover while you are earning.
We have a joint home loan. Do we both need cover?
Yes. Joint borrowers are each liable for the full amount, so cover on only one leaves the survivor carrying the entire loan. The cleanest arrangement is separate term policies sized to the whole outstanding balance.
Are women-specific critical illness riders worth taking?
It depends on the definitions rather than the label. Some cover breast and cervical cancers at meaningful severity thresholds and are genuinely useful; others are narrow. Read the definitions and compare them against a standard critical illness rider before deciding.
Want a shortlist instead of a catalogue?
Tell us the situation and an advisor comes back with two or three options that actually fit — and names what each one gives up.