Last Updated:June 19, 2025, 13:14 IST
A Bajaj Allianz study shows 46% of Indian women prefer term insurance for their child’s future.
61% mothers consider ensuring their child’s financial stability in case of unforeseen
events as their primary concern.
A recent study by Bajaj Allianz Life Insurance reveals that a growing number of Indian women consider term insurance as the most effective financial solution to secure their child’s future. The “Women Term Survey 2025″, conducted in collaboration with Pixis Global and Quals.AI, surveyed over 1,000 salaried and self-employed women across metro, Tier 1, and Tier 2 cities.
The study highlights that 73% of mothers are concerned about funding their child’s education in their absence, while 61% worry about ensuring their child’s financial stability in case of unforeseen life events. Term insurance has emerged as the preferred product to address these concerns, with 46% of women opting for it to secure their child’s future.
Health expenses and critical illnesses are also top of mind for many women. Over 53% worry that unexpected medical costs could affect family savings, and 87% find critical illness coverage in term plans highly appealing. Additionally, 93% of mothers expressed high interest in a “Child Income Security” feature in term plans.
Other preferred features include flexibility to increase coverage, maturity benefits, and built-in health management services. However, women also pointed out gaps in current offerings such as lack of flexibility, absence of maturity benefits, and complex claim processes. Affordable premiums and better rider options for health and critical illness are also on the wish list.
Key Highlights:
• Children’s Financial Future is a Top Financial Priority:
o 61% mothers consider ensuring their child’s financial stability in case of unforeseen events as their primary concern.
o Income stability (61%), health expenses (53%), retirement planning (54%), and child’s education (57%) emerged amongst the top financial priorities.
• Term Insurance Emerges as the Preferred Choice for Child’s Financial Security
o 46% of women prefer investing in term insurance to secure their child’s financial future, making it the most preferred financial product for this goal.
• Women worry about unexpected health and medical expenses impacting savings
o 87% women find ‘Critical Illness Coverage’ features in term insurance highly appealing.
o 57% women consider “Built in HMS and Health/CI cover” as an essential feature in a term plan
• High Interest in Child Income Protection Feature in Term
o 93% mothers find the ‘Child Income Security’ feature in a term plan as highly appealing
• Other Features Women Want in Term Insurance
o 51% want flexibility and maturity benefits—with the ability to increase coverage as life events unfold.
o 33% mothers consider financial benefits for child’s education to be essential in term plans.
o 28% women want term plans with high Life Cover
• Perceived Gaps in Current Term Plans
o Women noted lack of flexibility to adjust coverage, absence of maturity benefits, and complex claim processes as major deterrents.
o Affordable premiums and health/CI coverage riders were highly desired enhancements.
Tarun Chugh, MD & CEO of Bajaj Allianz Life, said, “Women today expect more from their term plans – not just life cover, but complete financial security for their family. Our goal is to build solutions that reflect their evolving needs.”
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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