Term insurance is a pure protection policy that provides coverage against death. Many insurance buyers in India prefer buying term insurance over other life insurance policies mainly because it offers high coverage at a nominal cost; the premium for term insurance plans is the lowest amongst all life insurance plans in the market. 
 
Typically, the earning members of the household purchase life insurance to safeguard the financial future of their family members against unforeseen risks. However, we ignore buying life insurance for homemakers.
 
The homemakers may not be the earning member of the family, but they play a vital role in running the household. They take care of every family member, manage the monthly budget, and tend to everyone’s needs. They work tirelessly throughout the day without taking any leaves. They put in all the work without expecting any reward or returns. The family often takes the homemaker’s work for granted and realise their true worth only in case of their unfortunate demise.

Benefits of term insurance for homemakers
· Since term Insurance is a pure protection policy, it offers substantial life cover at a nominal premium. Also, most insurance companies offer special discounts on premiums for homemakers (women). 
 
· The sooner you buy a term insurance policy, the lower the premium will be. Thus, by investing early in a term plan, you will get coverage at a lower price for the policy tenure, which could last for about 25 to 30 years.

· Most homemakers take care of everyone’s needs in the family and yet ignore their own health and medical needs due to high treatment costs. However, a term life insurance policy with health add-ons or riders can help them get the necessary financial help if they are diagnosed with any critical illness.
 
· Buying a term insurance policy for the homemaker would help you get additional tax benefits under the Income Tax Act, 1961. The premium you pay for term insurance is deductible, and you can reduce your overall annual tax liability. You can consult your tax or financial advisor to understand how to get the maximum tax benefit.
 
· Another significant benefit of buying a term insurance policy for the homemaker of your house is that it gives them peace of mind. They can be assured that, even in their absence, the family would be financially protected and can use the death benefit to keep the house running without any hassles.

What coverage amount should you choose while buying a life insurance policy for homemakers?
It's crucial to take your time to prudently calculate the coverage amount while buying term insurance for the homemaker of your house. You can do this by identifying the various costs you may incur in the event of the homemaker’s demise. However, you must know that as per the underwriting guidelines in India, the life cover of a homemaker cannot be more than the working spouse.

Final Thoughts
Thus, investing in term insurance for homemakers is pivotal as it would help secure the financial needs of your family in the hour of need. With a life insurance cover, you can lower the financial burden and stress.