A term insurance plan for a housewife can provide huge life coverage compared to other financial investments. The family can calculate the required sum based on their financial needs. For example, one can evaluate the expenses required to be managed in the absence of the policyholder, account for the inflation rate and choose the required life cover. The lump sum death benefit will help the family pay for the expenses and reduce the financial crisis in the absence of the housewife.

Term life insurance for a housewife is available at an affordable premium rate. In addition, our Tata AIA Sampoorna Raksha Promise (Tata AIA Sampoorna Raksha Promise - Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V0) term insurance plan provides a lower premium rate for term insurance for women. Furthermore, if the term plan for the housewife is purchased early in her life with a longer policy term, the premium becomes even more affordable. It is because, at an early age, the probability of having a serious illness that can cause death is less, reducing the life risk and further the premium.

Optional riders are one of the most important features of term insurance for a housewife in India. There are different types of add-on riders. For example, At Tata AIA, we provide add-on riders^ such as Tata AIA Vitality Protect - A Non-Linked, Non- Participating Individual Health rider (UIN:110B046V03) and Tata AIA Vitality Health - A Non-Linked, Non- Participating Individual Health rider (UIN:110B045V02) for financial assistance during a critical illness, terminal illness, disability, etc. The benefit can be provided as a lump sum or fixed regular income for a defined period or as a combination of the lump sum and regular income. 

The fund can be used to pay for hospitalisation and medical expenses if the housewife is affected due to a critical illness, terminal illness, etc. This financial benefit is in addition to the life cover and is available anytime during the policy tenure.

Flexibility is an important feature in the term insurance for women. It helps in customizing the product based on individual financial requirements. For example, the sum assured can be increased at different milestones in life, premiums can be paid for a limited term or regularly throughout the policy tenure, payouts can be received as a regular income for a defined period, etc.

In term insurance with a level premium, the premium will remain constant throughout the policy tenure. It is not subject to age with the increase in age or other related factors. 

In an increasing term insurance plan for a housewife, the sum assured, and the corresponding premium will increase at different milestones in their life, such as when they are blessed with children, plan for their child's higher education, etc.,

In decreasing term insurance, the policyholder can decrease the sum assured based on the changing family conditions. For example, suppose the children are well settled and planning to take up the responsibilities of clearing off the family's debts. In that case, the sum assured can be reduced, resulting in reduced premiums.

If the objective of purchasing term insurance for a housewife is to ensure financial security while saving funds for the future, term insurance with the return of premium is a suitable option. It can refund the premium paid for the term insurance policy as a maturity benefit subject to the policy conditions.