Tata AIA Life Insurance has launched a term insurance plan called “Shubh Shakti” specifically designed for women. The plan aims to empower women to safeguard themselves and their loved ones while continuing to thrive in their personal and professional journeys. Traditionally, the term life insurance industry has been male-centric, ignoring the unique challenges women face. However, with the increasing number of women in the workforce and as financial decision-makers, there is a growing need for a solution that addresses their unique financial needs and challenges.
The plan offers a range of benefits, including a premium holiday during pregnancy, lower premiums for women, and special health benefits such as women-specific care, vaccination support, and access to specialist consultations. It also provides child education protection, waiver of premium on husband’s or accidental death, and a comprehensive wellness program called Tata AIA Health Buddy.
Tata AIA Health Buddy offers rewards for regular health checks and achieving fitness goals, health and wellness benefits for the entire family, personalized diet tips, and activity targets. The plan also provides a 15% lower premium for women, with additional lifetime discounts on digital purchases and salaried profiles.
The launch of Shubh Shakti is a response to the growing awareness and shift towards greater financial independence among women. A recent survey by Tata AIA revealed that 89% of married women still rely on their husbands for financial planning, while only 44% take independent financial decisions. The plan aims to bridge this gap and provide women with a comprehensive protection solution that caters to their unique needs and challenges.
According to Gayatri Nathan, Chief Compliance Officer at Tata AIA, “Shubh Shakti is a celebration of women’s strength, empowering them to secure their family’s future, invest in their health, and lead a life free from worry.” The plan is designed to be flexible, comprehensive, and supportive across the various roles that women play in their lives, including as mothers, daughters, partners, and professionals.
Overall, Shubh Shakti is a holistic protection plan that addresses the unique needs and challenges of women, providing them with a comprehensive solution that safeguards their health, wealth, and family’s financial security. With Shubh Shakti, women can continue to dream, live confidently, and lead their families towards a secure, healthy, and financially independent future.