Married Women’s Property Act insurance query


Who all are eligible for MWP insurance?




In India, any married man is allowed to take a Life Insurance policy under the Married Women’s Property (MWP) Act. In most cases, even divorced persons and widowers are allowed to buy a policy under the MWP Act. Also, a married woman can buy a Life Insurance policy under the MWP rules. She can buy it in her name making her children as beneficiaries. In this case, the husband will receive any proceeds from the policy. This is because it will be considered as part of the wife’s assets.

What is the use of the MWP Act? The Act originally mentioned that the income of a married woman in India will be considered her own property. Later the MWP Act was amended to state that the proceeds of a husband’s insurance policy will be the property of the wife. So, according to the rules, proceeds from a husband’s insurance policy ‘will not be subject to the control of the husband, his creditors, or form a part of his estate’.

What does this mean? If a married man buys a Life Insurance policy using the MWP addendum, the proceeds from such a policy will be property of his beneficiaries (mostly his wife and children) and will not be treated as part of his estate. So, the proceeds from a policy issued under the MWP rules cannot be used to repay a husband’s debt or other liabilities.

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BB Expert