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Though housewives may not have a formal income, their contributions to household management hold substantial economic value. From Read more overseeing daily expenses to caring for children, their role is crucial to the family’s well-being. Yes, housewives should be covered under a term insurance plan.
A well-structured insurance policy for housewives offers financial protection to the family in case of her untimely demise. Term insurance for homemakers in India ensures continued financial stability by covering essential costs such as childcare, education, or domestic support, thereby supporting long-term financial planning for the entire household. Read less
Though housewives may not have a formal income, their contributions Read more to household management hold substantial economic value. From overseeing daily expenses to caring for children, their role is crucial to the family’s well-being. Yes, housewives should be covered under a term insurance plan.
A well-structured insurance policy for housewives offers financial protection to the family in case of her untimely demise. Term insurance for homemakers in India ensures continued financial stability by covering essential costs such as childcare, education, or domestic support, thereby supporting long-term financial planning for the entire household. Read less
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Get Life Cover of ₹1 Crore by paying a premium of
₹7,085/month (for 30 years)
₹8,287/month
Save ₹1,202 with discounts
Includes 10% digital + 8.5% salaried discount on 1st year premium
Excludes GST
Our sales representative will connect with you soon to assist further
Tata AIA Life Insurance Sampoorna Raksha Promise (A Non-Linked Non-Participating, Pure Risk, Individual Life Insurance Plan) • UIN: 110N160V7
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A Term plan for housewives, also known as homemaker life insurance or non-working spouse insurance, offers vital financial protection to the family in case of her untimely demise. Although she doesn’t earn money, her household role carries immense economic value. A term plan for housewives safeguards this contribution with:
Tata AIA
Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V07)
While a housewife may not earn an income, her contributions have significant financial value. Term insurance ensures financial stability for the family in her absence.
Financial Protection:Managing Medical Emergencies:Planning Investments:Term insurance for housewives comes with features like high coverage, optional riders, flexible premiums, and payout customization making it a valuable part of any family's financial plan.
Provides substantial financial protection to the family in the event of the housewife’s untimely demise. The sum assured can be calculated based on household responsibilities, inflation, and future needs. Helps cover daily expenses, debt, and long-term goals through a lump sum death benefit.
Term insurance is cost-effective, especially when purchased early. Premiums are lower for women under the Tata AIA Sampoorna Raksha Promise plan. Starting early with a longer policy term further reduces premium costs due to lower life risk.
Optional riders5 provide additional financial safety against health-related risks. Choose from multiple riders for coverage against critical illness, terminal illness, or disability. Benefits can be paid as a lump sum, regular income, or a mix, helping manage medical and recovery expenses.
Customize the policy to align with changing financial needs. Options to increase coverage at life milestones, select limited or regular premium payment terms, and opt for lump sum or staggered payouts. Ensures continued protection tailored to the family’s evolving responsibilities.
These features ensure that homemakers are financially safeguarded, and their contributions are recognized through long-term security for their loved ones.
Though housewives may not earn a salary, their contributions hold immense economic and emotional value. Term insurance ensures financial continuity for the family in their absence while offering added tax and investment benefits.
Save on taxes6 while securing your family’s future. Section 80C: Premiums paid for term insurance are eligible for tax deductions up to ₹1.5 lakh under the Income Tax Act, 1961. Section 10(10D): Death and maturity benefits from the policy are tax-free, subject to terms and conditions.
Provides lasting security during key life stages. Choose a long policy term to ensure consistent protection for the family against financial shocks.
You can get back the premiums paid3, if you outlive the policy. Under this feature, all paid premiums (excluding charges) are returned as a maturity benefit, adding savings value to the cover.
Support your child's dreams, no matter what. The sum assured can be used for higher education, marriage, or overall child development, ensuring continuity in life plans.
Use the payout for meaningful milestones. Term insurance proceeds can be used to start a business, buy assets, or invest for long-term wealth creation after clearing debts.
You can get online support from insurers. Compare term plans, calculate premiums, purchase policies, or file claims—anytime, from anywhere, saving time and effort. These benefits make term insurance for homemakers in India an essential part of every family’s financial safety net.
The table below briefly outlines the different types of term insurance plans available for housewives.
Types of Term Plans for Housewife |
Benefits |
Level Premium |
In level term insurance, the premium remains constant throughout the policy tenure. It does not increase with age or other risk-related factors. |
Increasing Term Insurance |
In an increasing term insurance plan for a housewife, both the sum assured and the premium gradually rise at key life milestones, such as the birth of a child or planning for the child’s higher education. |
Decreasing Term Insurance |
In a decreasing term insurance plan, the policyholder can reduce the sum assured based on evolving family needs. For example, if children are financially independent and able to take on family responsibilities such as debt repayment, the sum assured and the premium can be reduced. |
Term Insurance with Return of Premium3 |
If the goal of buying term insurance for a housewife is to ensure financial protection while also receiving maturity benefits, then a return of premium term plan is a suitable option. It refunds the total premium paid (excluding taxes and charges) at maturity, subject to policy conditions. |
Before purchasing a product, it is important to consider certain factors to find the suitable term insurance for a housewife.
Purchasing a term insurance plan at an early age is preferable, as the premium amount increases with age. Buying early helps lock in lower premiums, making it more affordable in the long term.
Purchasing a term insurance plan for a housewife is a straightforward process that offers financial protection to the family in the event of her untimely demise. Here’s a step-by-step overview:
Assess Coverage Needs: Begin by evaluating the financial responsibilities the housewife manages. Estimate the required sum assured based on future expenses such as childcare, household support, and long-term financial goals. Compare Policy Options: Explore and compare term insurance plans available online. Look for plans that offer high coverage, flexible tenure, optional riders5, and affordable premiums.Complete the Application: Once the right plan is selected, fill in the online application form with personal details such as age, lifestyle habits, health history, and nominee information. These details are essential for risk assessment and premium calculation.Review and Accept the Quote: After submitting the application, the insurer will provide a premium quote. Review the terms carefully. If satisfied, proceed by making the premium payment through a secure online mode.Policy Issuance and Confirmation: Upon successful payment, the policy will be issued and confirmation will be shared with the policyholder. The plan becomes active, offering life cover and additional benefits such as tax savings, optional riders5, and long-term security. Renewal and Support: Most term plans are renewable and can be continued based on evolving financial needs. Additionally, insurers offer dedicated customer support to assist with queries, claims, or policy modifications. By following these simple steps, housewives can ensure their family remains financially protected while also gaining peace of mind.
Term insurance for housewife in India is a crucial financial safeguard against rising household expenses and increasing health-related risks. It offers not only life cover but also additional benefits that support the family's long-term financial stability. With multiple types of term insurance plans available, each offering flexible features, it is important to assess the family's financial needs, compare available options, and choose the suitable plan to ensure comprehensive protection for the non-earning spouse.
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Yes, housewives can buy term insurance if they meet the insurer’s eligibility criteria, such as age (typically 18–65 years) and basic financial underwriting requirements.
Yes, non-salaried individuals like homemakers, freelancers, or business owners can buy term insurance by providing alternate income proofs such as the spouse’s income or household financial documents.
Yes, a husband can buy a term insurance policy for his wife with her consent. She must be life insured, and the husband can be the proposer and nominee.
Yes, riders5 like critical illness, waiver of premium, or accidental death benefit can be added for enhanced protection. These are optional and help increase the policy's scope.
Yes, couples can opt for joint term plans offering shared coverage under a single policy. While cost-effective, these plans generally pay out only once on the first policyholder’s death.
A joint-term insurance plan covers both spouses under one policy. It pays a lump sum on the first death and is more affordable than two separate plans.
Joint-term plans may have lower premiums than two individual policies but typically offer a single payout, making separate coverage more comprehensive in some cases.
Usually, insurers allow you to purchase a term insurance policy up to 65 years of age for housewives, though this may vary by insurer and policy type.
A housewife may consider a cover depending on the liabilities, number of dependents, and future family expenses.
For non-working women, term insurance with critical illness riders5 or savings-linked plans provides affordable coverage and added financial benefits for future planning.
A term plan provides accidental coverage for a housewife only if an accidental death rider5 is included. Standard plans may not cover accidental death unless this optional rider^ is selected during policy purchase.
Riders5 enhance base policy coverage, helping protect against specific life risks:
Critical Illness: Covers major health conditions
Accidental Death: Additional payout on accident
Waiver of Premium: No premium if disabled
Yes, employment status of the spouse may affect the term insurance eligibility and sum assured limits. For non-earning spouses, insurers may require income proof of the husband to determine coverage eligibility.
Only if your plan supports spouse inclusion or offers joint cover. If not, you may need a separate policy or switch to a joint-term plan.
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Disclaimer
1Illustrated Premium is the monthly premium excluding taxes for 20 yr. old female, Standard Life, Non-Smoker for ₹ 1 Cr. Sum Assured with Policy Term of 20 yrs. (Regular Pay) under Life Promise Option with first year premium discount for digital purchase and salaried person. Please refer Benefit Illustration for more details. Premium is subject to applicable taxes, cesses & levies which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium. Tata AIA Life shall have the right to claim, deduct, adjust, recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy. Kindly refer the sales illustration for the exact premium.
2As per the duly approved product design and terms & conditions of the product, this product offers first year digital discount of 10% and first year Salaried discount of 8.5% for Limited Pay/Regular Pay. For Single Pay, 1% digital discount and 1% salaried discount will be provided in the first year.
3Under Life Promise Plus Option, an amount equal to the 100% of the Total Premiums Paid (excluding loading for modal premiums) shall be payable at the end of the Policy Term, provided the life assured survives till maturity and the policy is not terminated earlier.
4Not applicable under PoS, Applicable for specific plan options. Please refer brochure for additional details.
5Rider is not mandatory and is available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/ branch.
Tata AIA Life Insurance Non-Linked Comprehensive Protection Rider (UIN:110B033V04 or any other later version) - A Non-Linked, Non- Participating Individual Health Rider, Tata AIA Vitality Protect (A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V04 or any other later version), Tata AIA Vitality Health (A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V03 or any other later version) are available under this plan.
6Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
This product is underwritten by Tata AIA Life Insurance Company Ltd. This plan is not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
Insurance cover is available under this product. For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale.
In case of sub-standard lives, extra premiums will be charged as per our underwriting guidelines.
Buying a Life Insurance policy is a long-term commitment. An early termination of the policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the insurance company and this document is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
L&C/Advt/2025/Jul/2779
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