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On insurance, Policybazaar in its report says 39 per cent of term insurance purchases are made by homemakers, and 44 per cent of women choose over Rs 1 crore term insurance cover.
International Women’s Day 2025: Over 40 per cent of total investments by women come from Tier 1 cities (compared to 32 per cent for men).
International Women’s Day 2025: A third of women’s investments go towards towards retirement and their children’s future, according to a report by Policybazaar. On insurance, it said 39 per cent of term insurance purchases are made by homemakers, and 44 per cent of women choose over Rs 1 crore term insurance cover.
Women aged above 40 years prefer over Rs 25 lakh sum insured in health insurance, with many using super top-ups for affordability, according the Policybazaar report.
Women & Term Life Insurance
The percentage of women purchasing term insurance has risen to 18% this fiscal year, reflecting a significant shift in financial responsibility. This upward trend is fuelled by greater workforce participation, evolving gender roles in financial decision-making, and increased accessibility of digital financial tools.
The report said salaried women is the largest and fastest-growing group, showing a shift towards independent financial planning, especially among professionals with corporate-backed insurance.
Women in the age bracket of 31-40 are driving the term insurance uptake (48 per cent).
90% Women Prefer Monthly Premium Payments
Women overwhelmingly prefer monthly premium payments (90 per cent), indicating a strong preference for cash flow flexibility, better budget management and avoiding large upfront costs.
Term Insurance Uptake Is Highest In Metros
Women in metro cities such as Delhi, Bangalore, Mumbai, Pune, Chennai, and Hyderabad lead in term insurance adoption, driven by higher financial literacy and greater disposable income, said the report.
70-75% Women Now Opt For Over Rs 10 Lakh Sum Insured
A growing number of women are choosing higher health insurance coverage to safeguard against medical inflation. Nearly 70-75 per cent now opt for over Rs 10 lakh sum insured, signalling a shift toward comprehensive financial protection, it added.
Health Coverage Needs Evolve With Age
Women’s health insurance preferences shift as they age:
20s-30s: In this age group, women opt for maternity benefits and wellness programs, focusing on reproductive health and preventive care.
40s-50s: Prefer over Rs 25 lakh sum insured, recognizing rising medical costs and hospitalisation expenses.
Above 50: Seek comprehensive coverage with critical illness riders, prioritising chronic disease management and shorter waiting periods for pre-existing conditions.
18% of Total Investments in ULIPs Are By Women
According to the Policybazaar report, women’s allocation to Unit Linked Insurance Plans (ULIPs) has steadily increased, now accounting for 18 per cent of total investments in ULIPs as of February 2025. This shift highlights preference for long-term wealth accumulation and inclination towards investing in market-driven instruments.
Women Prefer Shorter Pay Terms With Longer Investment Durations
Many women balance affordability with long-term financial growth, with nearly 50% of investment-linked policies following a 5-pay term with a 20-year policy duration, it said.
Investment Uptake Is Strongest In Tier-1 Cities
Over 40 per cent of total investments by women come from Tier 1 cities (compared to 32 per cent for men). Investment participation in Tier 2 and Tier 3 cities remains lower, highlighting the need for more financial literacy initiatives.