Life Insurance for Women (91 Words)

Life Insurance for Women

Prior to nationalization (1956), many private insurance companies would offer life insurance to female lives with some extra premium or on restrictive conditions. However, after the nationalization of life insurance, the terms under which life insurance is granted to female lives have been reviewed from time to time.

At present, women who work and earn an income are treated at par with men. In other cases, a restrictive clause is imposed, only if the age of the female is up to 30 years and if she does not have an income attracting Income Tax.