Prices Increasing soon Prices Increasing Soon

How Important is Term Insurance for Non-working Spouse in India? 

Well, let us just begin with a common question. Who is a non-working spouse? To answer it generally, the non-working spouse is someone who is staying at home, taking care of the household, doing the cleanliness, cooking for the family, taking care of the children, ageing parents, and so forth.
Believe it or not!

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

A non-working spouse in India has a more tiresome job compared to a working spouse. A working spouse is getting paid while a non-working spouse is not.

The non-working spouse has a responsibility that ideally not offers any salary, perks, benefits, bonus or any other recommendations. Therefore, having term insurance for non-working spouse in India is important.

Why Term Insurance for Non-working Spouse in India?

In India, covering the non-working spouse is not considered important. Often we forget, to consider the financial value of house care, child care and various domestic services that the non-working spouse takes care of.

In India, mostly the non-working spouse is a woman and it might be unimaginable to account for the financial implication in case of the absence. Term insurance for non-working spouse in India will be helpful as it ensures that the family will be able to tide over the financial damage in case of any unfortunate event.

Is it Possible to Get Term Insurance for Non-working Spouse in India?

The life insurance companies realize that taking care of a household is as important as earning income for the house to meet the everyday expenses. Mostly, the life insurance that is offered to the non-working spouse is on the premise of the coverage and the income of the counterpart earning.

Mostly the insurance covers allow adding the spouse within the same policy by simply paying an additional premium amount.

When determining the amount of coverage required for the spouse, the needs will be different. When it comes to calculating the amount, just ask one question what would be the cost to get onboard someone to replace the spouse and perform all those tasks that the non-working spouse keeps on doing throughout the day.

Next, compute the number as a yearly cost and then multiply by the number of years approximately the services would be required. Let us consider that one would require it for 5 years worth of the income replacement till the time things are balanced out.

Yes, insurance is important to secure the family's future in terms of finances; however, the safety net is not complete until the non-working spouse has adequate insurance cover taking care of the financial needs overall. Well, for anyone who is a housewife, it is important to understand the importance of term insurance in 2022.

Offers Coverage at Cost-effective Premium

The term insurance plan is one of the purest forms of financial safety for the family. It provides coverage to the nominee in case of an unfortunate event. The term insurance plans compared to any life insurance product is simple and easy to understand. It offers high coverage, at a nominal term insurance premium. Besides, the females are most entitled to receive a premium rebate depending on the insurance company.

Joint Life Cover

When comes to a joint life cover then both the partners are equal owners of the plan. In case anything happens to any one of the partners, then the surviving partner is entitled to receive the death benefit. In this manner, both the partner is protected against any untoward exigency that might arise.

Regardless, of whether a working or a non-working spouse in India, a term insurance plan is important for the financial safety of loved ones. The term cover for the working spouse will cover the family from the risk of losing earning member. Term insurance for non-working spouse in India ensures that the family does not have to bear an extra financial strain in case of any adversity.

Wrapping it Up

The non-working spouse in India is a misnomer wherein they have their duties and a safety net is important. Right from handling the household chores, child care, to cooking, and so forth, the non-working spouse does not get any holiday.  A non-working spouse helps to reduce these unnecessary expenses.

Imagining a life without a life partner is not easy. In case the non-working spouse passes away suddenly, the loss is inevitable both emotionally and financially. Term insurance for non-working spouse in India will be of great help. A term insurance plan will also help to save taxes on the premiums under Section 80C of the IT Act.

With the right term insurance policy in place, stay prepared for any adversity. We are living in times of uncertainty. Remember, adversity does not come with prior notice.

Different types of Plans


Premium By Age

Term insurance articles

  • Recent Article
  • Popular Articles
22 Feb 2024

Tata AIA 50 Lakh Term Insurance

Ensuring the financial well-being of your family requires

Read more
22 Feb 2024

SBI Life 75 Lakh Term Insurance

SBI Life Insurance Company offers a variety of sum assured to

Read more
22 Feb 2024

Kotak 50 Lakh Term Insurance

Securing your family's financial future involves detailed

Read more
22 Feb 2024

SBI Life 70 Lakh Term Insurance

Many people are confused about the ideal life cover amount and

Read more
22 Feb 2024

PNB 50 Lakh Term Insurance

Securing your family's financial stability involves thoughtful

Read more
07 Mar 2014

1 Crore Term Insurance - Buy ₹1 Cr Term Insurance Plan...

Term insurance is a type of insurance plan that offers financial security to your loved ones in the event of your

Read more
12 Jun 2018

Claim Settlement Ratio of Term Insurance Plan Providers

Claim Settlement Ratio (CSR) is an important parameter in the selection of an insurance policy. If you are going

Read more
27 Jun 2018

What Is Difference Between Term Insurance And Life Insurance

Life insurance plans help you create wealth, protect your family for the entire policy term, and save on your

Read more
24 Mar 2020

LIC Term Insurance 1 Crore

LIC of India offers various plans to help you secure the financial future of your loved ones. To ensure your

Read more
20 Aug 2014

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL