3 Basic Insurance Policies Women Should Learn About

Indian women must learn about different insurance plans covering health, life, and vehicles, providing financial security.

Supporting Indian women with insurance is crucial. Women should be aware of different plans covering health, life, and vehicles, providing financial security.

Today, when we speak about women’s empowerment, India has made significant progress in workforce diversity, gender pay, and gender equality, but there is still a long road to achieving financial inclusion.

With recent debates on a 70-hour working week, I would like to draw attention to a topic that remains unaddressed: women’s healthcare and insurance plans for the same.

It is still common for men to make most financial decisions in a household, including insurance, and insurance penetration for both rural and urban women is still a concern. Key reasons for this are the typecasting of gender roles and, more importantly, a lack of education.

The notion that men are the main breadwinners for the family makes the entire focus on insurance marketing male-dominated. And women make up around 48% of the total population. Therefore, it is the need of the hour to develop and execute a 360-degree action plan for the same.

3 types of insurance policies women in India should have

Key types of insurance for women in India are as follows, and all of these are being addressed by insurance providers in the country.

Health Insurance

It is not just a financial risk, but also a proactive measure to manage one’s well-being. Nowadays, insurers provide routine check-ups, mental well-being sessions, and telephonic doctor consultations.

Health insurance provides invaluable benefits, covering medical expenses and ensuring access to quality healthcare. It safeguards against high treatment costs, offering financial security. Regular check-ups, mental health support, and telemedicine enhance overall well-being. Health insurance promotes a healthier lifestyle and peace of mind, contributing to a better quality of life.

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Read more: Health Insurance Plans For Indian Women

Life/Term insurance

It will safeguard dependants/children’s future and is an obvious choice for women with children. Life insurance covers the insured and their family in the case of the insured’s death, while term insurance provides coverage during a chosen period only.

This financial support ensures your family’s stability and peace of mind during a challenging time. Additionally, certain life insurance policies may accumulate cash value over time, offering a savings component that can be accessed or borrowed against if needed. Life insurance thus serves as a long-term investment in your family’s well-being and financial security.

Read more: Should I Purchase Term Insurance To Save Taxes?

Motor insurance

Legal importance for family/self-owned vehicles; Motor insurance protects vehicles from financial loss due to accidents or theft. It ensures coverage for repair or replacement costs, offering financial security to vehicle owners.

Motor insurance offers essential benefits by providing financial protection for your vehicle. It covers repair or replacement costs in case of accidents or theft, ensuring you don’t bear the entire financial burden.

It also fulfils legal requirements, offering peace of mind and safeguarding your financial interests in unexpected situations on the road.

Read more: How Will Modifying Your Bike Impact Its Insurance Premium?


All the above can be customized based on factors like profession, gender, income, age, etc. Women are often more vulnerable than men to economic and health risks, and having insurance coverage will provide the required financial security and peace of mind.

Hence, Indian women must learn about different insurance plans covering health, life, and vehicles, providing financial security.

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Image source: CanvaPro

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About the Author


Megha Bansal (ex Mckinsey and ex Aon) with nearly two decades of experience in these global organisations. Served on the G20/ B20 financial inclusion taskforce during India's presidency 2022-23. Passionate about communication/financial read more...

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