It is commendable that you have finally purchased life insurance for yourself to provide a financial safety net to your family. If you understand insurance well, you might have gone ahead and bought a child insurance plan too. But what about your wife? Does she need life insurance as well?

From managing the household to sharing financial responsibilities, your wife dons many hats. So, why not purchase life insurance for her too to further extend the safety net? Irrespective of whether your spouse is a homemaker or has a promising professional life, she deserves life insurance as much as you.

Life Insurance for Housewives

If your spouse is a homemaker, there are several household responsibilities and chores that she looks after. She manages all of it with utmost grace and men could probably never match their potential. In case of the unexpected demise of your wife, apart from the emotional turmoil, these household responsibilities would come to you.

With no prior experience of managing all of it on your own, you'd need a caretaker or outside help for managing the household, especially when you have kids and elderly parents. This could put much stress on your finances. If your wife has life insurance, you will receive the death benefit which could help you manage such responsibilities in a far better manner.

Life Insurance for Working Wives

If your wife works too, she might be contributing significantly towards the expenses of the household. You might also have some shared financial responsibilities such as joint home loans with her. In case of her demise, you'd be left in a tight financial spot.

The death benefit of life insurance will enable you to manage such financial obligations without compromising your expenses or standard of living.

Does Every Insurance Provider Offer Life Insurance to Wives?

In case if your wife is working, she is mostly eligible for every type of life insurance available in the market. However, if she is a homemaker, you will have to select an insurance provider that offers life insurance to homemakers. There are many different types of pension, endowment, ULIPs, and money back plans that are available for homemakers too.

Get Enhanced Financial Safety by Purchasing Life Insurance for Your Wife

Irrespective of whether your wife works or is a homemaker, her contribution to all the different facets of your life will be missed in her absence. Purchase life insurance for her to at least make sure that the financial aspect is taken care of.

Buying life insurance is one of the most crucial financial decisions of life. Plan well and choose the right policy that works for you and your family.

Learn more about different Online Term Insurance Plans here.

DISCLAIMER

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.



Trending Articles

Article Links

Endowment Policy

Money Back Policy

Pradhan Mantri Jeevan Jyoti Bima Yojana

Term Life Insurance

Unit Linked Insurance Plan (ULIP)

Latest Articles

life-insurance
life-insurance

Buying a Life Insurance Policy with a Pre-existing Condition? What You Need to Know

Read More
Posted on 08 February 2020
life-insurance
life-insurance

Top Reasons For Single Parents To Purchase Life Insurance

Read More
Posted on 06 February 2020
life-insurance
life-insurance

Lost Original Life Insurance Policy Documents? Here’s What you can do

Read More
Posted on 06 February 2020