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When we think of financial protection, the primary focus often goes to the earning members of the family. However, housewives, who play a crucial role in managing households and ensuring the well-being of the family, are just as important. The responsibilities they shoulder—whether it’s running a home, managing expenses, or caring for children, have significant value, even if not tied to a pay cheque. That’s why term insurance for housewife is an essential part of family financial planning. It ensures that in their absence, the family remains financially secure, covering important expenses like childcare, education, household support, and more.
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Term insurance for housewives is a type of life insurance plan that guarantees payment to the family of the housewife in case of an unfortunate event with the housewife. This guaranteed payout is provided to the nominee/beneficiary in exchange for the policyholder’s timely premium payment. It offers high coverage at low premiums, ensuring that the family’s financial needs are met. Several payout options are available, such as lump sum, regular income, or a combination, allowing families to manage finances effectively. This term insurance plan ensures that the household continues to function smoothly, even without the crucial contributions of a housewife.
The following are the best term insurance plans for housewives available in India in 2025. You can compare the term insurance plan for housewife based on their premiums, sum assured, benefits offered, or the requirement of your husband’s income proof to find the right term insurance plan without income proof for yourself.
| Term Plan for Housewife | Sum Assured | Husband’s Income Proof | |
| HDFC Life Click 2 Protect Super | 50 Lacs | Not Required | |
| Axis Max Smart Term Plan Plus | 25 Lacs - 50 Lacs | Not Required | |
| Tata AIA Sampoorna Raksha Promise | 50 Lacs | Not Required | |
| Bajaj Allianz Life eTouch II | 50 Lacs | Not Required | |
| PNB MetLife Saral Jeevan Bima | 25 Lacs | Required |
* The above table represents the plans available for a 25 year old, non-smoker housewife looking for a 50 lakh life cover, with the husband’s annual income between 10-15 Lakhs, covering her till 60 years of age.
Term Plans
Term insurance plan is definitely the need of the hour for housewives. Considering the increasing prevalence of diseases among women, such as PCOD (polycystic ovarian syndrome) and breast cancer, housewives may need term insurance to ensure their families are financially secure in case of an unforeseen death.
The term insurance plan for housewife can provide a guaranteed cover amount to help the nominees with expenses such as education and existing loans.
It supports your financial planning by offering the beneficiary/nominee a guaranteed amount to deal with important expenses.
It is ideal in terms of providing a corpus for family members.
Not only that, but several life insurance companies offer special benefits for female customers, like Max Life introduced its Term plan for Housewife and Bajaj Allianz provides health management systems up to 36.5K via health checkups, including cancer screenings, diabetic, thyroid, and lipid profile tests, OPD consultations, nutrition, diet, and psychologist consultations, and medicine network discounts.
You can choose the term insurance plan in the following ways:
Choose the Adequate Cover: Since the life cover is the amount that will be paid to your family in your absence, you should choose a cover large enough to cover their needs financially. It is highly recommended that you should check your financial plans.
Check Claim Settlement Ratio: The Claim Settlement Ratio (CSR) is an important consideration when buying a term insurance plan. The CSR is calculated easily by dividing the total number of death claims received by the insurance company by the number of death claims that were settled.
Select the Right Type of Plan: Select the right type of term insurance plan, as this will ensure your family receives the benefit amount and offer the premiums back at the maturity of the policy.
To find the term insurance plan for housewife, consider these key factors:
Type of Term Plan: Options like return of premium, increasing sum assured, and decreasing sum assured offer different benefits. Choose a term insurance for housewife that offers enough coverage to support your family’s lifestyle and key goals, such as children’s education or marriage.
Claim Settlement Ratio (CSR): Select an insurer with a high CSR over several years to ensure your family’s claim is easily settled in case of any unfortunate event.
Add-Ons:: Consider add-ons like critical illness cover based on your health and family history. Add-ons provide extra financial protection but may increase premiums, so choose them wisely.
Premium vs. Coverage: Compare premium rates from different insurers to find a plan that balances affordability with adequate life cover. Look at the benefits and quotes to ensure the housewife term insurance plan fits your family’s needs without straining your budget.
Some of the benefits of housewife term insurance are as follows:
Fixed Sum Assured: A housewife's contribution to the family, though not financially measured, is invaluable. The cost of hiring help to manage household tasks is often overlooked but can strain the family budget. This unexpected expense may lead to financial pressure. A term plan for housewife ensures a steady income for the family in her absence, helping them manage finances smoothly and achieve future goals without added stress.
Financial Safety for family: A housewife may not have a large financial contribution to the family, but her contributions in different areas are invaluable. Purchasing term insurance for housewife guarantees financial stability by offering a death benefit that could save your loved ones. This payment can help the family in managing financial constraints and covering important future expenses.
Affordable premiums: The premiums for term insurance for housewives are highly affordable, starting from just ₹412 for a 1 Crore term insurance cover. You can always use the term insurance calculator in order to calculate your insurance premium amount for your chosen term plan.
Life Stage Cover Enhancements: With a term insurance for housewives, you can increase coverage as your family grows. As new members join the family, financial needs also rise—especially for goals like children's education and marriage. To keep up with these changes, it's important to adjust the sum assured so that your coverage is enough for the family’s growing needs. This option ensures that your plan adapts to inflation and the family’s changing financial demands.
Cover for Spouse: The spouse is usually the primary earner in the family. If the spouse passes away unexpectedly, it can cause financial stress. A term plan for housewife can ensure coverage for the spouse, providing financial security in case of their untimely death.
Critical Illness Coverage: Serious illnesses like heart disease, cancer, or kidney failure can lead to large medical expenses. By adding a critical illness rider to the term plan, you get a lump-sum payout if diagnosed with a covered illness. For housewives, the plan can include coverage for women-specific illnesses, such as cervical or breast cancer, ensuring added protection.
Flexibility: One important component of term insurance for women is flexibility. It helps in customization of products as per budget needs. For example, you can easily choose to pay the premiums in a convenient mode like single, limited, or regular pay term with monthly, annual, semi-annual, or quarterly premium pay mode. You can also select the payout option as a lump sum, monthly, monthly + lump sum, or increasing monthly income.
Tax Benefits: You can claim term insurance tax benefits as per the prevailing tax laws under sections 80C and 10(10D) of the Income Tax Act, 1961. You should always consult with your financial advisor to see the tax benefits you can avail with your term insurance.
Peace of Mind: The family can lead a stress-free life, and the children can use the payout to pay for their long-term goals, like pursuing higher education or getting married.
Benefits for Children: The financial benefit from the term insurance plan for housewife can be helpful in planning for the future of their child, including their marriage, higher education, and other expenses. This will guarantee a stress free life from financial constraints for her children.
Term insurance for housewife offers several advantages that help secure your family's financial future. Here's how it can support your loved ones:
Financial Protection
The primary benefit of term insurance is providing financial security in case of the policyholder's unfortunate passing. The payout can help your family manage daily expenses, medical bills, and other financial obligations.
Income Replacement
Term insurance can replace the income of the main earner by offering the payout as monthly installments. This helps the family manage living costs and maintain financial stability in the absence of the primary income source.
Debt Repayment
If you have any outstanding debts, a term insurance payout can ease the burden on your family. It can be used to repay loans or mortgages, preventing financial stress during difficult times.
Achieving Financial Goals
Term insurance can also help fulfill long-term financial goals, such as funding your child's education or their future wedding. It ensures that the family's dreams are not compromised, even in your absence.
Spouse’s Retirement
If the spouse is dependent, a term insurance payout can offer financial independence in the long term. It provides them with funds to ensure a comfortable retirement, even if the main earner is no longer around.
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Here are some of the features of the term plan for housewife:
You can purchase a high sum assured amount at very low premium rates. This is mainly because a term plan for housewife is a pure protection policy with no component of investment. The entire premium amount is used to provide the life cover that is paid to the nominee upon demise during the policy tenure.
The term insurance for housewife has increased additional term cover benefits. This feature gives policyholders the option to increase the policy coverage during the policy term, considering the husband has also opted for a term plan. The housewife term insurance offers benefits for the well-being of their children, enabling them to guarantee their child’s bright future without any financial stress. For example, If a husband has a term cover of 1 crore and then the wife buys a term plan for housewife for a life cover of 50 Lakhs. Then, the total sum of 1.5 crores will help in securing your children’s future.
Another benefit that most of the life insurers provide is waiver of premium. This feature waives off the premium payment if the policyholder becomes critically ill, injured, or physically impaired. These are the situations in which the policyholder will not be required to pay the premium amount.
A term plan also offers the return of premium option, wherein the premium amount paid will be returned by the insurer subject to the plan terms and conditions as a maturity payout to the policyholder.
The term plan for housewife can easily be bought for a longer policy term, ensuring family’s financial protection at any time.
An individual can now easily access various term plans, assess their features and choose the best term insurance for housewife. In addition to this, buying a term plan, paying a premium amount, submitting a claim, and other processes are quite easy and cost-effective.
Terminal Illness: Terminal illness payout, or accelerated death payout, is offered by insurance companies when the life assured is diagnosed with a condition likely to lead to death within 6 months from the date of diagnosis during the policy term. However, if the diagnosis occurs within the last 12-18 months of the policy, early payout may be excluded since death could happen after the policy ends. In such cases, death benefits are still provided to the family, but an early payout isn't an option.
Waiver of Premium: Another benefit offered by numerous life insurance companies in India is the waiver of premium riders. This feature, as the name suggests, waives all the remaining premiums in case of a critical illness or permanent disability. In other words, there are circumstances where the policyholder is not obligated to make premium payments. This becomes relevant when an accident or disability prevents the policyholder from meeting premium obligations.
Critical Illness Rider: If the policyholder is diagnosed with a critical illness, such as heart stroke, cancer, the critical illness rider offers an additional or accelerated payout that helps the policyholder pay for the treatment costs or medical expenses. This is an optional benefit that can be added to the base plan at nominal premiums.
Accidental Death Benefit: By opting for additional riders, a housewife's term life insurance policy can include coverage against death caused by accidents. The policyholder can add the accidental death benefit rider to enhance the coverage of the base term plan. If an accident leads to the untimely demise of the policyholder, the term insurance rider will provide an additional payout.
Comparing term insurance for housewife helps you find the plan that suits your family’s needs while staying within your budget. Different plans offer varying benefits, such as coverage amounts, premium rates, and flexible payout options like lump sum or regular income. By comparing, you can choose the right plan with the most value, including additional features like critical illness riders or premium waivers. This ensures your family’s financial protection is well-rounded and tailored to your unique requirements.
There are different types of term plan for housewife explained in this table in brief:
| Types of Term Plan for Housewife | Benefits |
| Regular Term Plans | Level or regular term plan for housewife only offer death benefits, and no benefit is payable on the maturity of the policy |
| Term Return of Premiums | This term insurance for housewives returns all the premiums paid during the policy term back on survival, and on death, the death benefit is paid |
Term insurance plan for housewife is crucial for ensuring financial stability and security for the family in the event of unforeseen circumstances. Even though housewives may not contribute financially, their role is irreplaceable, and term insurance recognizes their value. Here are three reasons why term insurance for housewives is essential:
Financial Security for the Family
In the absence of a housewife, managing household expenses, childcare, and other responsibilities can become challenging. Term insurance for housewife ensures the family has the financial resources to cope with these challenges without compromising their quality of life.
Covers Non-Monetary Contributions
Housewives play a key role in managing the home, raising children, and supporting the family. While these contributions are not financially measured, term insurance compensates for their value, ensuring the family can afford professional help if needed.
Affordable Premiums for High Coverage
Housewives can secure significant life cover at affordable premiums, making it easier for families to include term insurance in their financial planning. This ensures long-term protection without burdening the household budget.
To find the term insurance plan for housewife, consider these key factors:
Type of Term Plan: Options like return of premium, increasing sum assured, and decreasing sum assured offer different benefits. Choose a term insurance for housewife that offers enough coverage to support your family’s lifestyle and key goals, such as children’s education or marriage.
Claim Settlement Ratio (CSR): Select an insurer with a high CSR over several years to ensure your family’s claim is easily settled in case of any unfortunate event.
Add-Ons:: Consider add-ons like critical illness cover based on your health and family history. Add-ons provide extra financial protection but may increase premiums, so choose them wisely.
Premium vs. Coverage: Compare premium rates from different insurers to find a plan that balances affordability with adequate life cover. Look at the benefits and quotes to ensure the housewife term insurance plan fits your family’s needs without straining your budget.
Here is a step-to-step guide on how to buy a term plan for housewife from Policybazaar:
Step 1: Visit Policybazaar and go to the term insurance for housewife page
Step 2: Fill in all the required details like name, contact number, and date of birth. Then, click on ‘View Plans’.
Step 3: Answer the basic questions about occupation type, annual income, educational qualification, and smoking habits.
Step 4: After submitting all this information, a list of all available term insurance plans for housewife will be displayed
Step 5: Select the term insurance plan for housewife and then proceed to pay.
Here are some of the things you should look into before buying a housewife term insurance:
Make sure the life cover chosen is adequate: Always check if the sum assured amount is sufficient to secure your family members in case of an unfortunate incident. As per the general thumb rule, you can consider the cover amount to be 3-5 times the annual salary of the husband.
Consider your expenses: Consider the child's education plans, loans, liabilities, and family expenses before deciding the life cover for term insurance for housewives.
Check Claim Settlement Ratio (CSR): Choose a reliable insurer that has a high claim settlement ratio (CSR) and guarantees a quick claim settlement process, so that your dependents do not suffer.
Wife can use Husband’s Income Proof: A working wife can easily buy term insurance for women using her income proof and other documents requested by the insurer.
Current medical condition: The family can decide if adding a health rider is important by taking into account the health of a housewife and the medical history of her family.
Keep the Type of Term Plan in Mind: There are different types of term insurance plan for housewives that are offered when purchasing term insurance. You should choose the term plan that suits your requirements and financial objectives among these options due to their difference in features.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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