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Insurance Policy for Housewife In India

With a term plan for housewives, you can prevent your family's emotional and financial well-being in your absence. Here is all you need to know about insurance for housewives in India.

  • Oct 29, 2021

Housewives - also known as homemakers, are genuinely the perfect managers of any household even though they do not work for any organisation per se. From taking care of children and parents, managing household finances, to monitoring the daily chores of the house, there is no denying the fact that they form an integral part of the family. While they may not be the breadwinners of the house, their contribution should be most accounted for. With no financial backup, it becomes of utmost significance for housewives to invest in life insurance policies. A term plan for housewives not only provides a safety net for themselves but also serves as a savings and investment tool for their future.

Can a housewife take term insurance even if she does not have a stable income?

This is one of the most commonly asked questions when it comes to buying the best life insurance policy for a woman. Read along to find the answer to this and other similar queries you have in your mind and prepare yourself to make an informed choice.

Why housewife need insurance?

With the rising health care and living costs and the increase in cases of terminal illnesses, the need to insure non-earning family members increases manifolds. Unfortunately, the Insurance Regulatory and Development Authority of India (IRDAI) does not allow non-earning individuals to buy insurance plans. However, a term plan with a spouse cover comes to the rescue in such scenarios. With a term insurance for housewives, you can prevent jeopardising your family’s emotional and financial well-being in your absence. The remuneration from the coverage can be used to maintain the house, provide for your children’s education and look after their health and well-being.

Perks of Term Insurance For Housewife

  • Joint Cover Benefit
  • Joint term insurance plan gives the advantage of extending coverage to your husband as an active policyholder. The surviving spouse is, thus, entitled to the insurance payout if one of you passes away, offering a strong financial buffer for your family.

  • Lesser Premium Cost
  • As housewives are non-earning members, a term plan for housewives comes with affordable premiums, being extremely inexpensive while providing a good return on investment.

  • Secure Your Children’s Future
  • The best life insurance policy for housewife offers benefits for her children’s well-being, enabling them to guarantee their children’s bright future without having a considerable financial burden. Buying term insurance for housewives empowers you to secure your children’s future.

  • The Rider Addition
  • The provision to add riders (add-on benefits) to a term plan with spouse cover is one lucrative reason to invest in an insurance policy for housewives.

  • Tax Exemption
  • Insurance policy for housewives also falls under the tax benefit framework mentioned under Section 80C, Section 80D, and Section 10(10D) of the Income Tax Act, 1961.

7 reasons why housewife should be a life insurance plan

Having answered the question, “can a housewife take term insurance?” you now know that housewives play a crucial role in making their family’s lives more financially stable and secure. With the assistance of term plans, they can ensure their family’s prosperity even after they are no longer around. So, opt for the best life insurance policy for a woman to protect her loved ones until the end of time and beyond.

Kotak e-Term

Download Brochure


  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435


- A Consumer Education Initiative series by Kotak Life

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