After many women-focused health insurance plans being rolled out by many companies, term plans, too, are being launched to target female folks.
Tata AIA Life Insurance recently launched Shubh Shakti, a term insurance plan designed for women with several interesting features and add-ons.
From premium waivers for specific periods after childbirth, waiver of premium in case of husband’s accidental death, children’s education protection, discounts on premiums, single mother discounts, a host of out-patient benefits are made available for policyholders. Early payout and waiver of premium on terminal illness are add-ons.
As health and term insurance policies are the only two covers worth having, and in fact are critical from a financial stability point of view for most of us, it is important to understand this new term insurance offering to decipher its merits.
Catering to women
The basic premise of a term insurance is that it covers your family’s financial requirements in your absence. That essence remains even in this policy. Some add-ons make it a tad more interesting.
Women policyholders who are pregnant can opt for pausing their premium payments for up to 12 months. However, the policy continues to be operative and offers continuity. When women take maternity leave and rejoin after 6-12 months of delivery, this waiver would be of some relief.
Next, if the policyholder’s husband passes away due to an accident during the premium payment term, all future premiums are waived. The coverage continues to remain active, thus covering future risks. This feature is especially useful in case of homemakers or those women who make small sums via side hustles.
One key interesting feature is the child education protection add-on. For a small addition in premium, your child would get a monthly payout of ₹5,000 or ₹10,000 till the age of 21 or 25 (depending on your choice), apart from the lumpsum amount upon death. This feature gives a reasonable cashflow that could take care of key expenses of your child when he/she is a student.
Under the Health Buddy Enhance benefits, the term insurance offers a set of interesting OPD features. These include annual health checks: thyroid, cholesterol, complete blood count, and additional tests for anaemia, PCOS and so forth. In-clinic and tele-consultations are offered with neurologists, endocrinologists, urologists, diabetologists and cardiologists. There is a wallet for vaccinations covering cervical cancer, flu, hepatitis and shingles.
Discounts are available on lab tests and medicines, and counselling is available for IVF, PCOD and weight management.
There are limits on the number of times each of the above OPF are allowed for policyholders.
Shubh Shakti offers a 15 per cent discount on premiums for women compared to men for every year of the policy payment term. There is an additional 1 per cent discount on premiums offered to single women.
What it costs
For a non-smoking 30-year-old woman, a life cover of ₹1 crore till the age of 65 is available for a premium of ₹12,044 annually, according to data from Policybazaar for the Tata AIA Shubh Shakti term insurance Sampoorna Raksha Promise.
This premium includes all the add-ons (free and paid) available. The paid ones include extra payout on accidental disability (₹31), extra payout on accidental death (₹51), extra monthly income of ₹5,000 for the child (₹563) and waiver of premium on spouse’s accidental death. OPD benefits of up to ₹64,100 per year are available to women policyholders according to Policybazaar data.
Should you buy?
A term insurance is essential for both men and women. For women – both working and homemaker – it is critical to have term insurance to cover life risks.
With many interesting add-ons and also several out-patient benefits such as expert consultations and period checkups, Tata AIA Shubh Shakti checks all the right boxes.
The premiums are reasonably priced. For the same ₹1 crore cover, Policybazaar data (for a 30-year-old non-smoking woman) shows that a policy for 35 years would mean annual premiums of ₹12,900 to as high as ₹20,000 charged by most other insurers for the first year. From the second year, these insurers charge ₹14,500 to ₹22,000.
For the first year, Tata AIA Shubh Shakti charges ₹12,044. But from the second year, the annual premium goes up to ₹14,542 (with all the paid add-ons).
Shubh Shakti is reasonably priced at the relatively lower end of the premium range compared to what peers offer. The policy can be worthwhile for women looking for term covers.
Working women would especially find it attractive due to the add-ons and waivers.
Published on August 16, 2025
