ABSLI Data Reveals India's Life Insurance Gender Gap: Women Pay More, Get Less

• New data from Aditya Birla Sun Life Insurance (ABSLI) reveals a significant gender gap in India's life insurance adoption, with women accounting for only 28% of policyholders compared to 71% for men.
• Despite lower representation, women policyholders demonstrate higher financial discipline, paying an average annual premium of ₹1,28,000, which is 18% higher than men's average of ₹1,08,000.
• However, women's average base sum assured (₹17.2 lakh) is lower than men's (₹19.77 lakh), often due to product choices like savings-oriented plans and limited pay structures, influenced by career breaks and maternity.
• ABSLI notes that bridging this gap requires targeted awareness campaigns, simpler digital processes, and product designs that better address women's evolving financial needs and life stages.

Why It Matters: Highlights a significant gender gap in life insurance, impacting women's financial security.