Married Women Property Act, 1874


The Married Women’s Property (MWP) Act was enacted with a view to protecting the properties of women against the creditors and stated that the earnings of a married woman in India are to be considered as her separate property.


A 50-year-old housewife with three children has just discovered that her husband’s business is not doing well and he has to take a huge amount of loans. Fortunately, they have an insurance policy that will mature soon and the proceeds will tide them over.

Soon after, the business goes bankrupt and the family is left without a steady source of income. Their only hope was the insurance policy proceeds which is now the legal property of her husband’s creditors.

To save your family from such a turmoil by using a legal safeguard. Insurances under the MWP Act ensures emotional peace as well as the well-being of your loved ones (dependents) when your personal finances are in crisis.

How to get the benefits of this Act:

A married man residing in India can avail benefit under this Act by taking an insurance policy u/s 6 for the benefit of his wife or children or both simply by filling in an MWP addendum while applying for insurance, without formally creating a settlement deed or a trust separately.

# Married man can be of any religion and includes a widower or even divorcee.
# Beneficiaries: His wife or children or both but, no other family members can claim to the policy benefits.

This benefit can only be obtained while taking the policy and any addition or changes in the endorsement of the policy are not allowed, which means that even the husband (the insured) cannot change the beneficiaries of the policy later on.

Structuring Personal Wealth:
Once the policy is bought under the MWP Act, it means that any insurance policy taken by the husband and endorsed in favor of his wife or children will always be their property.

The proceeds of a life insurance policy under the MWP Act cannot be claimed by creditors, relatives (even parents and siblings), or cannot form a part of the husband’s estate.
Therefore, this is a fool-proof way to ensure that there is financial stability, and the future of your wife and children are protected.

All the benefits shall be payable only to the beneficiaries. Benefits which are applicable under the policy such as:

  1. Maturity, 
  2. Survival benefits, 
  3. Paid-Up policy proceeds, 
  4. Partial Withdrawal, 
  5. Surrender proceeds, and 
  6. Death benefit proceeds.

None of the husband’s creditors have any right over the policy proceeds and even the husband won’t be entitled to the survival benefits of the policy.

Hence, the government of India promoting entrepreneurship among the citizens of the country, and many youths are going for a self-employed way.
There is a need to spread awareness of these provisions which would help in protecting the financial interests of our dear ones

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