As per a recent survey, securing their children’s financial future is the foremost concern for Indian mothers, with 61% of respondents identifying it as their top financial priority. The study underscores a rising preference for term insurance as a dependable instrument to achieve this goal.

As per the Bajaj Allianz Life Women Term Survey, other key financial priorities for women include income stability (61%), retirement planning (54%), child’s education (57%), and managing health expenses (53%). The findings signal a shift in how women are planning long-term financial security for their families.

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Term insurance emerged as the most preferred financial product for child security, with 46% of women choosing it over other options. Notably, 93% of mothers found the ‘Child Income Security’ feature in term plans highly appealing—highlighting the growing demand for child-centric insurance features.

Unexpected medical costs remain a major worry, with 87% of women valuing critical illness coverage in term plans. Additionally, 57% said they consider built-in health, medical, and CI (critical illness) coverage as essential components of their insurance plans.

The survey also found that 51% of women want flexibility and maturity benefits that allow coverage to increase as life events unfold. 33% look for financial support for children’s education within term plans, and 28% prefer plans with higher life cover to ensure long-term protection.

Despite the growing adoption, women highlighted several gaps in current term insurance offerings. Key deterrents included lack of flexibility in adjusting coverage, the absence of maturity benefits, and complex claim processes. Respondents also voiced a strong need for more affordable premiums and enhanced health or CI coverage through riders.

The findings reflect the evolving financial mindset among women, particularly mothers, as they actively seek tailored, comprehensive insurance solutions to safeguard their children’s future.