Insurance Every Woman Should Consider

Why women, including homemakers, need health and life insurance, what maternity and critical illness cover offer, and how to choose wisely.

Insurance protects against financial shocks. Women’s needs are sometimes overlooked.

Health insurance

Own cover or inclusion in a family floater is essential.
Maternity cover: many policies include it only after a waiting period, often two to four years, so buying early matters.
Critical illness cover: pays a lump sum on diagnosis of serious illnesses, including some cancers that affect women.

Life insurance for earning women

If others depend on your income, a term insurance policy provides a lump sum to your family if you die. Women often get lower premiums than men because of longer life expectancy.

Life insurance for homemakers

A homemaker’s work, such as childcare, cooking and household management, has large economic value. If she dies, the family may need to pay for help. Some insurers offer term cover for homemakers, often linked to the spouse’s income.

Personal accident cover

Low-cost policies, including the government’s PM Suraksha Bima Yojana, provide accident cover.

Avoid

Expensive investment-cum-insurance policies bought mainly for tax.
Policies without understanding exclusions.

Nominees

Ensure you are a nominee on family policies, and name nominees on your own.

The maternity waiting period

A woman plans to have a child in two years. She buys a health policy with maternity cover now, so the waiting period is completed by the time she needs it.

Thinking homemakers don't need insurance

A homemaker's work has economic value, and her health costs can be large.

Key takeaways

Women need health insurance, ideally bought early for maternity cover.
Term insurance protects dependants and is often cheaper for women.
Homemakers' work has economic value worth insuring.
Avoid costly combined products and check nominees.