According to the insurer, 91% of its women policyholders are working professionals and 7% are homemakers. Despite being fewer in number, women who purchase insurance often demonstrate higher financial discipline: their average annual premium is ₹1,28,000, around 18% higher than the ₹1,08,000 paid by men.
However, their average base sum assured (₹17.2 lakh) remains lower than that of men (₹19.77 lakh), resulting in comparatively reduced long-term cover.
ABSLI attributes this mismatch to women’s product choices. Over 80% of their policies are Traditional or ULIP savings-oriented plans, while 93% follow Limited Pay structures — preferences shaped by career breaks, maternity considerations and a focus on liquidity and short-term financial goals.
Women also show selective adoption of insurance riders. Their highest attachment rates are reported in Accidental Death Benefit Plus (81%), followed by Comprehensive Critical Illness (21%), Critical Illness (7%), and Waiver of Premium on Critical Illness (6%). While these trends reflect awareness of key risks, uptake of broader protection options remains limited.
Industry leaders believe that bridging this gender gap will require targeted awareness, simpler digital journeys and product designs that address women’s evolving roles.
“We have a responsibility to make protection inclusive and accessible,” said Kamlesh Rao, MD & CEO, ABSLI. “Women are central to household financial decisions, and ensuring that they are adequately insured is key to building a stronger, more secure future for families and for India.”
ABSLI notes that increasing financial literacy, customising protection-led offerings, and supporting advisors with clearer guidance on riders and term plans will be essential steps in strengthening women’s participation in life insurance.
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