SOURCE : NEW18 NEWS
Last Updated:May 10, 2025, 09:30 IST
Mother’s Day 2025: Term plans are evolving to support India’s working mothers—balancing ambition, caregiving, and long-term security
Term Insurance for new-age mothers
Mother’s Day 2025: While financial planning for women in India is still in a nascent stage, what matters most is that the journey has begun, and it’s gaining ground. When women, especially working mothers, plan their financial future, it often extends well beyond personal milestones. It’s about long-term security for their families, resilience against life’s uncertainties and building a legacy. Their approach to money is shaped by the dual lens of career ambition as well as caregiving. In response to these evolving needs, the insurance industry has gradually adapted and continues to innovate.
Product innovation in term insurance is no longer just about adding new features but also about rethinking how relevant those features are to new-age women. As more women assert control over their financial futures, there’s a growing need for inclusive, flexible, data-driven insurance solutions. In the case of working mothers, their absence can bring not just emotional loss, but also a very real financial disruption. Recognising their irreplaceable role, today’s term insurance products are moving towards offering holistic protection that mirrors their multitasking roles.
Recommended Stories
Women Get Higher Coverage At A Lower Cost
While no one can be absolutely safe from life’s uncertainties, the smartest thing one can do is to be financially prepared. The good news is that it’s economically more reasonable for women to be able to do so as compared to men. The reason? Data has consistently indicated that women tend to lead longer, healthier lives. In other words, they have a lower risk profile. This translates to lower chances of filing a claim, which results in significant savings – up to 30% to be precise. So, it’s not only more financially responsible but also more affordable for women to secure their future.
These forward-looking measures have been made possible with new-age AI and ML precision. This empowers more women to be aware and confident in their financial choices. Our recent data states that 44 % of women who buy term insurance now opt for a cover of Rs 1 crore or higher. The percentage of women buying term insurance has gone up by 18% this financial year. Of these, 49% are salaried women, while homemakers make up 39%. While there’s a long way to go, these figures do offer a silver lining when it comes to the women’s financial protection landscape.
Term Insurance Plans Offering Inclusive Features For Women
New-age term insurance plans are now available that provide comprehensive protection against life’s uncertainties, including critical illnesses. These features are designed keeping in mind the unique responsibilities and financial commitments of working mothers:
Now, there are plans that offer childcare benefits wherein a regular income stream flows in for the child’s educational expenses in case of an unfortunate death of the insured, along with giving a lump sum benefit to the nominee.
Authored By: Varun Agarwal, Head, Term Insurance, Policybazaar.com
Disclaimer:The views expressed in this article are those of the author and do not represent the stand of this publication.
- First Published:
May 10, 2025, 09:30 IST
