- Income Protection: If you’re an earning woman, your income may support household expenses, children’s education, or even EMIs. Life insurance ensures that these goals don’t get derailed in your absence.
- Unpaid Work Has Value: Even homemakers create huge financial value. Replacing domestic work, child care, and household management has a significant cost — insurance provides a safety net.
- Growing Responsibilities: Women increasingly shoulder dual roles — income earners + caregivers. Adequate coverage protects both financial and emotional responsibilities.
- Wealth Planning: Insurance is not just protection, it’s also a tax-efficient tool for wealth transfer and legacy building.
- Insurance penetration among women in India remains very low — surveys show less than 40% of working women have any life cover.
- Average life cover for insured women is often less than 50% of men’s coverage.
- The life insurance industry itself is now recognising this gap, with insurers launching dedicated women-centric plans covering critical illnesses, maternity benefits, and lower premiums.
- Working woman with ₹10 lakh annual income → Ideal life cover = ₹1–1.5 crore.
- Homemaker managing a household of 4 → Replacement cost estimated at ₹25,000–₹40,000/month. Over 15 years, this adds up to a financial impact of ₹50–75 lakh.
- Term Insurance: Highest coverage at lowest cost. Every woman with financial dependents should consider this first.
- Child Plans: Ensures your child’s education is secure even if something happens to you.
- Health + Critical Illness Riders: Women face unique health risks (like breast/ovarian cancer). Riders provide additional financial protection.
- Wealth-Building Plans (ULIPs/Endowment): If you want insurance + investment in one.
- Lower Premiums: Women generally pay 10–15% lower premiums than men for the same age and cover.
- Health Advantage: Buying early locks in lower premiums before age-related health issues begin.
- Longer Protection: Securing insurance early means coverage through your most financially active years.
- Calculate your financial contribution (income + unpaid work).
- Choose a sum assured that covers dependents for at least 10–15 years.
- Start with term insurance and add riders or child plans as needed.
- Review coverage every 3–5 years as your responsibilities grow.
Ready to Take the First Step?
Whether you’re a salaried professional, businesswoman, or homemaker, life insurance is your financial shield. Don’t leave your family’s future unprotected.
- IRDAI & industry reports on women and insurance coverage (2024)
- World Bank & NITI Aayog data on female workforce participation
- Media insights on women-centric insurance plans and premium benefits