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Life Insurance for Housewives

Updated On Jun 28, 2021

‘’Religion is preserved by wealth; knowledge by diligent practice; a king by conciliatory words; and a home by a dutiful housewife.’’

The quote by the famous philosopher and economist Chanakya asserts the importance of a housewife's role in turning a house into a home. Here, a life insurance policy's multiple benefits can help fulfil her personal needs and family goals. Moreover, it is essential to ensure protection in the face of an unfortunate event. Read on to know more about why a homemaker should have a life insurance policy.

Responsibilities of a Homemaker

Although the list of a housewife's responsibilities is exhaustive,  there are few duties that every homemaker fulfils -

  • Manages the House - From cooking the food, cleaning the house, doing laundry to paying utility bills, managing expenses and regulating the family budget, a housewife does all kinds of chores to ensure the smooth sailing of the family. 
  • Raises the Children - Deemed as the most important role of a housewife, many women quit their jobs to become housewives and raise their children. They take care of all the activities like feeding the kids, school homework and projects and doctor and dentist appointments etc. 
  • Fixes the House - A housewife is hoped to have the skills of an electrician, plumber, carpenter etc to repair minor leaks and check a blown fuse.

All the points mentioned above advocate the importance of a housewife. And, in the case of an unfortunate event, besides the emotional trauma, the financial budget of the house might collapse as well. A caretaker or someone who can help perform these duties would have to be employed which will cause a financial strain on the pockets. Here, a life insurance policy can help in somewhat mitigating the cost.  

Life Insurance Policies for Housewives

Here is a list of options which can be considered while choosing a life insurance policy for a housewife.

1. Whole Life Insurance Policy

A whole life insurance policy will offer life coverage for the entire life of the housewife, even if she lives for up to 100 years. Moreover, she will even get maturity benefits after the completion of the policy duration. 

2. Unit Linked Insurance Policy (ULIPs)

As ULIPs provide dual benefits of life cover protection and investment opportunities under a single policy plan, it makes for an ideal plan for housewives. Under this plan, she can keep a certain amount of the paid premium as coverage and invest the remaining portion in debt, or equity or both, to secure the family’s future and save for children’s education, marriage etc.

3. Endowment Policy

The housewives with the endowment policy plan enjoy a twofold advantage of a life cover and savings. She is even provided with the maturity benefit after the policy term-end. Moreover, in the face of an unfortunate event, her nominee will be paid the sum assured along with some bonus estimated through the number of years she lived within the policy duration. 

4. Money Back Life Insurance Policy

The housewife is provided with a percentage of sum assured at uniform intervals within the policy term-end. This regular income helps fulfil her long term aspirations and goals. Moreover, if she survives the policy term-end, she can enjoy the maturity benefits with the remaining amount from the aggregate and the accumulated bonus. However, if she dies within the policy duration, her nominee will be paid the entire sum assured, regardless of the previously paid instalments. 


A housewife's job is often belittled in our patriarchal society. However, it is essential to understand their value with changing times. A suitable life insurance policy can be the first step to acknowledge and validate your wife’s struggles and sacrifices. Thus, gift her the right plan at reasonable prices which meets her requirements and future goals. 

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.        

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