“She doesn’t earn, why insure her?”
Wrong thinking. A housewife’s work has real value. If she’s not there, you’ll spend lakhs replacing what she does.
Let me show you how to calculate term insurance premiums for a housewife and why it matters.
Why a Housewife Needs Insurance
Her work isn’t paid, but it’s valuable.
What she does daily:
Makes three meals. Cleans the whole house. Washes clothes and dishes. Helps kids with homework. Looks after elderly parents. Manages all household shopping.
What it costs to replace her:
Maid for cleaning: 12,000 monthly. Someone to cook: 10,000 monthly. Help with children: 15,000 monthly. Driver for school: 8,000 monthly.
Add it up: 45,000 every month. That’s 5.4 lakhs per year!
Your kids need 15 years to grow up. Total replacement cost: Over 80 lakhs.
Now you see why “term insurance for housewife” isn’t optional.
What Changes Your Premium
Your age matters most:
Younger women pay much less. At 30, you’ll pay way less than someone who’s 45.
How much cover do you want:
50 lakhs costs less than 1 crore. Simple math.
How many years:
Want 20 years of protection? Costs more than 10 years. A longer time means a higher payment.
Your health:
Healthy? Pay less. Got diabetes or BP? Premium goes up.
Smoking:
Don’t smoke? Great, lower cost. Smoke? Get ready to pay double.
Extra features:
Plain term insurance for a housewife is cheap. Add extras, price increases.
Step 1: How Much Cover
Two ways to figure this out.
Count what it costs to replace her work:
Help at home costs 5-6 lakhs yearly. Kids become independent in 15 years. So you need 75-90 lakhs. Round it to 1 crore to be safe.
Add up what the family will need:
Education for kids: 30-40 lakhs. Parents’ care: 20-30 lakhs. Running home for 10 years: 30-40 lakhs. Total comes to 80 lakhs-1.1 crore.
My advice: Don’t go below 50 lakhs. If possible, take 75 lakhs to 1 crore.
Step 2: Pick Time Period
How long should this protection last?
Check your youngest kid’s age. Got a little one who’s 5? You need at least 15-20 years of cover.
When does your husband retire? If he’s 35 and works till 60, that’s 25 years you need coverage.
Easy guide: Kids under 5: Get 25-30 years. Kids in school (5-12): Take 15-20 years. Teenage kids: Go for 10-15 years.
Yes, longer costs more. But family stays protected longer, too.
Step 3: Your Health Matters
Health changes what you pay to calculate the term insurance premium.
Healthy means cheaper: No sugar, no BP, no ongoing illness. Normal weight. Not taking medicines. No operations in the past.
Problems cost more: Diabetes or blood pressure? Add 20-40% to the cost. Overweight? Pay extra. Thyroid or PCOD? Slight increase. Had surgery? Depends on what kind.
Your habits count: Use tobacco? Almost double the price. Drink heavily? Costs go up.
Tell the truth about everything. Lie now, family suffers when they claim later.
Step 4: Get Price Quotes Online
Time to actually calculate term insurance premium using websites.
Find comparison sites:
Type “term insurance calculator” or “housewife term insurance calculator” in Google. Lots of sites will show up.
Fill in your info:
How old are you? You’re female (women pay 10-15% less, lucky you). Cover amount: 50 lakhs or 1 crore. Years: 20 or 25, as you decided. Smoke or not. Income: Write “homemaker” or zero.
See the prices:
The screen shows what different companies charge per year. Look at 5-6 companies and compare.
Step 5: Extra Protection Options
Plain term insurance for a housewife covers death. These additions give more.
Critical illness: Get money if you get cancer, a heart attack, or kidney failure. Adds 1,500-3,000 yearly for 25 lakh.
Accident cover: Extra money if death is from an accident. Another 800-1,500 per year. Useful if the family travels a lot.
Premium waiver: Husband becomes disabled and can’t pay? They waive future payments, but you stay covered. Costs 500-1,000 yearly.
Add these costs to the term insurance premium if you want them.
Step 6: Compare Companies
Got quotes? Don’t just pick the cheapest.
Check how many claims they pay:
Should be 95% or more. This tells you if the company actually pays when needed.
Financial strength: The Company should have a solvency ratio above 1.5. Means they’re stable.
Read what customers say: Is claiming easy, or do they create problems?
Example:
Company A: Charges 11,500 yearly, pays 98% of claims. Company B: Charges 10,800 yearly, pays 92% of claims.
Company A is better even though costlier. That extra 6% claim payment matters when your family needs money.
Apply on the website: Most let you apply for term insurance for a housewife online. Send papers, do a medical test if they ask, and get your policy.
Do It Now
You know how to calculate the term insurance premium for a housewife. Time to act, not think more.
Go to comparison sites. Put your details. See prices. Pick good company. Apply today. Check prices today. Buy it this week. Protect your family now.
Term insurance for a housewife isn’t extra or optional. It’s a basic necessity. Treat it that way.
