Yes. A homemaker can buy a term insurance policy from insurers regulated by the Insurance Regulatory and Development Authority of india (IRDAI).
However:
Coverage is usually linked to the financial protection needed for the family
Some insurers may require additional checks compared to salaried applicants
Key Factors Insurers Consider
1. Husband’s / Family Income
Even though the homemaker has no personal income:
Insurers assess household income
Policy amount is based on the family's financial dependency
👉 Example: Higher earning spouse → higher eligible cover for homemaker
2. Existing Financial Dependents
Insurers check:
Number of children
Dependents (elderly parents, etc.)
Loans or liabilities
More dependents → higher required cover → may increase scrutiny
3. Medical history (Very Important)
Homemakers must undergo:
Medical tests (especially for higher sum assured)
Health disclosure (BP, diabetes, thyroid, etc.)
Medical condition is often the most important underwriting factor
4. Age of Applicant
Younger homemakers (20–40) → easier approval, lower premium
Older applicants → stricter underwriting and higher premiums
5. Sum Assured (Coverage Amount)
Most insurers:
Allow coverage based on family income multiple or future needs
May cap coverage for non-earning applicants unless justified
6. Policy Ownership Structure
Options include:
Homemaker as the policyholder (self-owned policy)
Or sometimes policy is taken jointly or under spouse financial planning
7. Insurer-Specific Rules
Different insurers have different approaches:
Some offer full term plans to homemakers
Others may limit sum assured or require spouse income proof
Why Term Insurance for Homemakers Makes Sense
Even without income, homemakers provide:
Childcare value
Household management
Support services that would cost money to replace
So term insurance helps:
Protect family financially in case of untimely death
Cover childcare, domestic help, and future education costs
Typical Coverage Range
Depending on insurer and profile:
₹25 lakh to ₹1 crore+ is commonly available
Higher amounts require stronger financial justification and medical clearance
Simple Summary
Homemakers are eligible for term insurance, but approval depends on:
Family income (main factor)
Health condition
Age
Dependents
Insurer underwriting rules
Disclaimer:
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.
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