When discussing financial independence for women in India, the conversation usually revolves around equal pay, entrepreneurship, or breaking into male-dominated industries. But even after all these discussions, one of the most overlooked aspects of women’s empowerment is financial security: the ability to safeguard oneself and one’s family from unexpected risks. That’s where a term insurance plan becomes crucial.
Why So Many Women Still Miss Out on Life Insurance
Despite women increasingly contributing to household income, their share of policyholders is still lower than men’s. The good news is that the gap is slowly reducing, especially among working women. There are reasons for this gap:
- Perceptions and visibility: Women are often seen as dependents rather than providers, and the contributions of homemakers aren’t always recognised in financial terms. This means they may get left out of planning and insurance decisions.
- Gender pay gap: Reports continue to highlight the gender pay gap in India. Because of these income differences, insurance premiums can sometimes feel harder for women to manage.
How GST-Free Individual Term Insurance Makes a Difference
Removing GST might just seem like a minor change made to insurance policies, but its impact is not one to be underestimated. For women, it makes stepping into financial protection a little easier.
| Before (With GST) | Now (GST-Free) | What It Means For Women |
| Premiums were higher because 18% GST was added | You only pay the base premium amount | Policies are more affordable |
| Insurance would get pushed aside for other expenses | Easier to fit into monthly budgets | More women can include it without cutting essentials |
| Fewer women bought policies | More women encouraged to get covered | Plays a role in narrowing the insurance gap for women |
Why Term Insurance Matters for Every Woman
Many people still think of life insurance as something meant only for the main earner in the family, based on old ideas of men as providers. But today, reality looks very different.
Women as primary earners: In many households, women’s salaries keep the home running. Imagine the scenario of a single mother raising two children, or a young woman supporting her parents. Without insurance, her family could face financial difficulties in her absence. With a term insurance policy, however, they gain a safety net.
Entrepreneurial women: Women running small businesses or startups face risks that can affect their families if unprotected.
Homemakers as contributors: When a homemaker is no longer there, families often have to bear the costs of childcare, household help, and the emotional strain. Term insurance helps acknowledge and protect the value of this unseen work.
Making Term Insurance Simple and Accessible
A lot of women still don’t know how term insurance works or how much cover they actually need. That’s where awareness drives, financial literacy, and easy-to-use tools can really help. For example, women can be guided to:
- Calculate coverage needs based on current expenses, dependents, and future goals.
- Compare policies to see what suits their stage of life, whether they’re single, married, parents, or caregivers.
Stories That Show How Insurance Changes Lives
Beyond numbers and policies, stories play a powerful role. Consider the case of a woman entrepreneur whose small business loans were cleared by an insurance payout, allowing her family to continue operations after her passing. Or the young IT professional whose parents could maintain their lifestyle because she had secured a term policy early.
These narratives not only normalise women buying insurance but also show insurance as an act of love and foresight, not just financial planning.
Wrapping Up
It affirms that women’s lives, contributions, and futures deserve equal safeguarding. Financial security is not just about surviving crises; it’s about enabling women to take risks, pursue dreams, and live without constant fear of leaving their families unprotected.
Zero GST on individual term insurance makes protection more affordable and underlines the importance of financial security for all, including women in every role. For every woman, whether a salaried professional, a homemaker, a single mother, or a business owner, insurance is more than just a policy. It’s a promise: that her life, labour, and love will continue to support her family, even in her absence. It’s a promise: that her life, labour, and love will continue to support her family, even in her absence.
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