""
RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Does a Non-Working Spouse Need Term Insurance?

down-arrow
Does Non-Working Spouse need Term Insurance?
November 30, 2023

The dynamics between a working and a non-working spouse isn’t unlike that of Superman and Batman from Justice League. The working spouse gets the spotlight like superman. Thanks to the visibility offered by a promising career and the respect granted by society for earning a handsome income, the working spouse is always the cynosure of all eyes. However a non-working spouse works in the shadows like Batman and hardly gets credit for fulfilling responsibilities, let alone going the extra mile.

Let us look at what a non-working spouse has to do:

  • Manages house

    When one spouse is working, the other manages the house. Keeping the house clean, washing the utensils and clothes, drying the clothes – there are chores abound. In many cases, it is a back breaking and physically demanding responsibility. Even with the availability of appliances such as washing machine, vacuum cleaner or dish washers one does have to invest a minimum number of hours in managing a house.

  • Cooking

    A good cook in a decent area in a leading metropolis like Mumbai will charge nothing less than Rs 5,000 per month. Whereas the non-working spouse cooks for free. And it isn’t just about cooking 3 meals a day, but also whipping up snacks or milkshakes or other beverages when guests come home.

  • Takes care of children

    The spouse who manages the home, also ends up spending the most time with children. Picking up the children after a long day, mentoring them, ensuring that they are receiving proper nourishment, resolving emotional conflicts etc. These tasks are both laborious and exhaustive.

  • Teaches children

    The cost of tuition classes can go up to one lakh per year per child. But a non-working spouse ends up teaching children for free. This certainly isn’t an easy task as the parent will have to brush up one’s own knowledge by reading up and then teach the children. The parent will also need to make sure that only correct information is passed on.

  • Ferries children around

    In a single day, a typical Indian child spends more than 2 to 3 hours in pursuing extracurricular activities after spending the usual 8 hours in school. These undertakings may include tuitions, football coaching, swimming class etc. Some families may have a driver with a car to ferry the child around. However in most cases the non-working spouse is also involved in dropping off and fetching the child to and fro from the school as well as from these other centers of activities.

  • Emotional companionship

    What is highly underrated, almost to the point of ignorance, is the emotional support offered by the non-working spouse to all the members of the household. The non-working spouse has to be available for comforting the working spouse, caring for the children as well as being there for the senior parents.

    The non-working spouse is holding a responsibility that doesn’t offer salary, bonus, perks, promotions or favourable recommendations. Holidays? What are those? In fact, the term non-working spouse itself is a misnomer and should be renamed as always working spouse. In most cases in India, the ‘always working spouse’ is a woman. Imagine if the ‘always working spouse’ is no more. Keeping the emotional damage completely aside, one can account for a financial implications. Estimate could be Rs 8,000 per month per child for tuition, Rs 8,000 per month for a dependable nanny, Rs 5000 per month for a good cook, Rs 4000 per month for a maid who can clean the house. This works out to be around Rs 25,000 per month which is equivalent to an yearly spend of Rs 3 lakhs. Many reading this would agree that the amount is on the lower side of the spectrum. A term insurance cover, such as HDFC Life Click2Protect Life for your ‘always working spouse’, will at least help you tide over the financial damages of her absence.

Similar Articles

Buy Term Insurance

 

Calculate Premium

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Difference Between Term Insurance and Life Insurance

Difference Between Term Insurance and Life Insurance

Which is the best in terms of premiums, maturity benefits & death benefits? Read to compare benefits of term insurance & life insurance before buying a plan!

How to Choose the Right Term Policy Period?

Eligibility Criteria for Buying Term Insurance in India

Term Insurance Age Limit

Term life insurance age limit is the age range for buying a term plan. In India, you can start at 18 years, and the maximum age is usually up to 65 years.

Term Insurance Age Limit
The Perfect Partnership: In Cricket and Life Previous
Term Insurance Lapse and Its Effect on Future Coverage and Premiums Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches