Term insurance necessity for women, add critical illness cover: Experts

One in every three policies is sold to a woman in India, reveals a recent State Bank of India Ecowrap report. But according to PolicyBazaar, the trend witnessed on its platform is that women account for only around 15 per cent of term policy buyers.

Most insurance experts concur that women don’t buy term insurance — one policy that can provide adequate protection — in large enough numbers.

Working woman’s apathy

Working women often fail to purchase adequate term cover. “Most women who buy term insurance are single mothers or single women. Within families, the situation that largely prevails is