Married Women’s Property Act Insurance

Empower and Protect your family in your absence.

What exactly is this ?

When you buy a life insurance policy, you aim to secure the financial future of your wife and children in your absence.

However, if there are any outstanding loans to any creditors, they will have prior claim to the money before your beneficiary nominee.

Any life insurance policy taken by the husband on his own name and registered under the married women’s property act 1874, section 6 in favor of his wife or children or any of them, will always be their property.

Neither the parents of the husband nor his creditors can recover any part from the benefit.


Who can opt for life insurance under the MWP Act?

  • Business persons with a high component of loans.

  • Proprietors and partnership firms which are in losses and unlimited liability.

  • People who live in joint families where there can be many claimants in the family.

  • Salaried people who have high loan components and liabilities.

  • Any person who has insecurity that the relatives or any other person, may claim the benefit from insurance claim in fraudulent way.

When you buy a life insurance policy under MWP act, then only your wife and children will be able to make the claim.

Nominees mentioned in the MWPA life insurance remain unchanged for the whole policy tenure.

Who can apply for a policy under MWPA?

  • Any married man

  • Any divorced man or widower (only for children)

Who all will be covered under MWP Act?

  • Only your wife

  • Only your children (both natural as well as legally adopted)

  • Your wife and children together (Share can be defined)

Pros and cons of MWP Act


  • The needs of the policyholder’s family are given priority.

  • The MWP Act is applicable to every married woman irrespective of religion.

  • Life cover is used to protect the needs of family and not for any other purpose.

  • There is no requirement of creating a trust separately for your children

  • MWP Act empowers women by providing them with financial security.


  • The policyholder’s debt cannot be paid with the claim benefit

  • There is no option to change beneficiaries.

  • The policyholder needs consent from adult nominees in writing to make changes in the policy.

  • The risk of misuse is higher.


  • Policy owner is eligible for benefit under section 80C for premium paid.

Death Benefit

  • The benefits received by beneficiaries from the policy registered under MWPA are tax free under section 10(10D) subject to conditions prescribed therein.


  • Income tax benefits would be available as per prevailing income tax laws and subject to fulfillment of conditions stipulated therein. Income tax laws are subject to change from time to time. Financial Fitness does assume responsibility on tax implications mentioned anywhere on the page. Please consult your own tax advisor to know the tax benefit available to you.


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