How can you safeguard insurance money from outside liabilities?

Life insurance policy is a financial tool availed in order to protect the income of dependents of life insured in case of his untimely demise. There are few things to be kept in mind while taking a life insurance policy under Married Women's Property Act, 1874.: Term life insurance policy can be taken under Married Women's Property Act. Keep in mind that you cannot convert a normal life insurance policy to Married Women's Property Act later on. A life insurance policy marked under Married Women's Property Act cannot be converted to a normal policy under any circumstances. The beneficiaries of the life insurance policy taken under Married Women's Property Act cannot be amended in any way.