Archive · 9 Aug 2025
Term Insurance Uptake Rises, But Coverage Gap Remains for Women
Imagine insurance is like a safety net for families.
More women are working and earning money, but not enough of them have this safety net (term insurance).
Even though more women are buying it, it's still a small number.
Insurance companies are now offering special plans just for women.
These plans offer benefits like help with childcare, money if you get sick, and support for children's education.
This is because women often have multiple roles.
These plans help protect them and their families.
Women's participation in the workforce is increasing, but life insurance coverage lags.
Women account for only 11% of term insurance buyers, despite an 80% increase in the last two years.
44% of insured women opt for a cover of ₹1 crore or more.
Many prefer plans with child income, critical illness benefits, and maternity benefits.
Insurers are now offering tailored insurance products for women, with specific benefits.
- Who
- Women, insurance companies, and industry experts
- What
- Uptake of term insurance among women is increasing, yet a coverage gap persists.
- When
- The Female Labour Force Participation Rate (FLFPR) rose from FY18 to FY24.
- Where
- India
- Why
- To provide financial security and protection tailored to women's needs.
- FLFPR FY18
- 23.3%
- FLFPR FY24
- 41.7%
- Women Term Insurance Buyers
- 11%
- Increase in Women Buyers (last 2 years)
- 80%
- Cover of ₹1 crore or more
- 44%
- Women favoring child income & critical illness
- 90%