Braveheart Rukhsana shot one of the LeT militants to dead and injured another, after they barged into her house on Sep 27, 2009.
She was later appointed as a police officer in Jammu and Kashmir. State Governor N N Vohra recommended Rukshana for the award.
Narendra Kaushik who hails from New Delhi will also be the posthumously rewarded with the Jeevan Raksha Padak.
Seven people have approved by President Pratibha Patil for the 'Uttam Jeevan Raksha Padak', out of which three will be posthumously awarded.
The president has approved 44 people for the 'Jeevan Raksha Padak'. Nine out of the 44 people will be awarded posthumously.
The recipients will be given a cash prize of Rs 75,000, Rs 45,000 and Rs 30,000 respectively, including medal and a certificate signed by the Home Minister.