Women Prefer Term Insurance As Top Solution To Secure Their Child’s Future: Survey

Bajaj Allianz Life Insurance, a prominent private life insurer in India, has shared insights from its recent study, the Bajaj Allianz Life Women Term Survey. Conducted with Pixis Global and Quals.AI, the survey involved over 1,000 salaried and self-employed women from metro, tier 1, and tier 2 cities. It explored their financial priorities, emergency preparedness, and long-term financial security strategies.

Children's future emerged as a top concern for many mothers. A significant 73% of mothers expressed anxiety about funding their child's education in their absence. Furthermore, 61% worried about ensuring their child's financial stability in case of unforeseen life events. These findings highlight the importance placed on securing children's futures.

Term Insurance: A Preferred Choice

Term insurance has become a popular choice among women for securing their child's financial future. The survey revealed that 46% of women prefer investing in term insurance for this purpose. This makes it the most favoured financial product for ensuring children's financial security.

Health-related expenses are another major concern for women. About 53% of respondents were worried about unexpected health costs affecting family savings. Reflecting this concern, 87% found Critical Illness cover appealing, while half considered built-in Health Management Services essential in their term plans.

Child Income Protection: A Key Feature

The 'Child Income Security' feature in term plans is highly appealing to mothers, with 93% expressing interest. Additionally, 33% of mothers consider financial benefits for child education essential in term plans. These features are crucial as they align with women's priorities regarding their children's future.

Flexibility and maturity benefits are also desired by many women. Around 51% want the ability to increase coverage as life events unfold. Meanwhile, 28% seek term plans offering high life cover to ensure comprehensive protection for their families.

Addressing Gaps in Current Plans

The survey identified perceived gaps in existing term plans that need addressing. Women noted the lack of flexibility to adjust coverage and absence of maturity benefits as major deterrents. Complex claim processes were also highlighted as an issue needing improvement.

Affordable premiums and health/CI coverage riders were among the enhancements women desired most. By addressing these gaps and enhancing term plans with sought-after features, Bajaj Allianz Life aims to empower women with financial confidence and security for their families.

"The findings from Bajaj Allianz Life's Women Term Survey 2025 highlight that women view term insurance as more than just a life cover," said Tarun Chugh, MD & CEO of Bajaj Allianz Life Insurance. "They see it as a comprehensive financial solution that aligns with their well-defined financial priorities."

The survey underscores the evolving financial aspirations of financially independent women today. They seek insurance solutions that not only protect life but also support long-term health and family wellbeing. This shift reflects a growing awareness around health-related risks and the need for comprehensive coverage.