Women Rank Term Insurance as the Top Insurance Solution to Secure their Child’s Future: Bajaj Allianz Life Women Term Survey 2025

–          73% mothers are concerned about funding their child’s education in their absence

–          61% mothers worry about ensuring their child’s financial stability in case of unexpected life events

Bengaluru, 18 June, 2025: Bajaj Allianz Life insurance, one of India’s leading private life insurers, unveiled insightful findings from its latest study, Bajaj Allianz Life Women Term Survey in collaboration with Pixis Global and Quals.AI. The survey deployed a combination of qualitative and quantitative methodologies covering over 1,000 salaried and self-employed women across metro, tier 1, and tier 2 cities. It assessed their top financial priorities, preparedness for emergencies, and approach to long-term financial security.

The survey highlights a significant shift in financial priorities – with children’s future, education expenses, and health surfacing as top concerns. Term insurance emerged as the preferred financial product for women to secure their child’s future. 53% women expressed concern about unexpected health expenses impacting their family’s savings, showing growing awareness around health-related risks. Reflecting this, 87% found Critical Illness cover highly appealing, and 50% considered built-in Health Management Services an essential feature in their term plan. Additionally, women also consider child education benefits as an essential part in a term plan. These insights underline how financially independent women today are looking for insurance that not only protects life but also supports long-term health and family wellbeing.

Tarun Chugh, MD & CEO, Bajaj Allianz Life insurance, said, “The findings from Bajaj Allianz Life’s Women Term Survey 2025 highlights that women view term insurance as more than just a life cover. They see it as a comprehensive financial solution that aligns with their well-defined financial priorities. Their expectations from a term plan include coverage for children’s financial future, health-related expenses, critical illnesses and overall financial security for the family. These insights will continue to guide us in creating solutions that address the specific needs of our women customers to meet their long-term financial goals.”

KEY SURVEY FINDINGS:

• 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.

The survey underscores the need for tailored term insurance solutions that align with women’s evolving financial aspirations. By addressing existing gaps and enhancing term plans with the features women seek, Bajaj Allianz Life aims to empower them with financial confidence and financial security for their families.