Why house wives are the backbone of the society?

During her Budget 2023 speech, Finance Minister Nirmala Sitharaman Ji emphasized the importance of women's financial independence. She also mentioned the creation of 81 lakh self-help groups for rural women under the Deendayal Antyodaya Yojana National Rural Livelihood Mission, which aims to economically empower women.

Despite various initiatives in recent years to empower women economically, homemakers have been largely overlooked. In 2021, a three-judge bench of the Supreme Court of India recognized that the labour, services, and sacrifices of homemakers significantly contribute to the economic well-being of families and the nation, even though they have traditionally been excluded from economic analyses.

How Women are the Backbone of our Society?

Men and women all over the world head out each day to their respective places of work in order to give a good life for themselves and their families. This not only contributes to their personal wellbeing, but it also contributes to the overall economy.

Homemaking and other domestic work have long contributed to the social and economic well-being of any society. Housewives have served as the managers of household operations, taking control and care of the home. Despite their important role in society, they are always underestimated.

Prior to you writing off the idea of buying a life cover for your wife, we want you to have a look at the following duties which are both crucial and unmatched. Afterward, you will be able to settle on why her role is more than worthy of a life insurance.

She is the multi-tasker who dons the hat of a cook, housekeeper, laundry person, and more. Just because your wife is not bringing home the bacon, it doesn’t mean she isn’t contributing to the family’s income. She is the one who takes care of the children and all your needs and indirectly playing a very crucial role in the society by giving her valuable input.

That’s where you should think about a Term Insurance Plan. It can be the best gift to your wife so that; she can protect your children and parents from future financial crisis in her absence.

For example, women between the ages of 20-55 years, with a minimum annual family income of INR 6 Lakhs, can purchase these personalized Term Insurance plan with suitable covers. The sum assured will range from INR 30-45 Lakhs. This acknowledges the substantial contribution of women to their family's income. As per recent research, a homemaker's daily responsibilities of cooking, cleaning, tutoring, and managing household chores would amount to a minimum of INR 50,000-60,000 per month. Additionally, the emotional support and guidance they provide are priceless.

A housewife does a lot of work that hardly gets noticed. Proper life coverage for homemakers should always be an imperative part of the budget of a family.

In the unfortunate event of a homemaker's passing, the family is likely to feel helpless. These personalized Term Insurance Plans enable women to prepare for such a situation and establish a safety net for their family. Above all, this is a small step towards recognizing the significant socio-economic contribution of homemakers and giving them the acknowledgment they deserve.

Siddhant Dubey - Writer & Photographer

Siddhant works as a freelance content writer who is interested in a wide range of spheres from photography and personal finance to cooking. He is also an aspiring photographer striving to showcase life around him through his vision.