Women face greater financial risks than men, yet insurance products often fail to meet their needs. In many parts of Asia and the Pacific, only about half of women receive social protection benefits, and fewer than one in three contribute to a pension plan.
This lack of coverage leaves women vulnerable. Lower wages, unpaid caregiving duties, and interrupted careers reduce their lifetime earnings. By the time they retire, women’s income is usually 25% to 33% less than men’s—even though they tend to live longer. Without proper insurance, families risk falling into poverty due to illness, disasters, or old age.
Traditionally, insurance has been built around a man’s steady, full-time career. Premiums often assume women are more expensive to insure. Many policies exclude coverage for maternity or fertility care. In some cases, a non-working wife gets only half the coverage based on her husband’s salary.
Other barriers include lack of information and formal employment. For example, a vegetable seller in Manila or a sari weaver in Jaipur might never meet an insurance agent. Complex policies go unread, beneficiaries are unaware, and many insurance payouts remain unclaimed.
Despite these challenges, some practical solutions are already making a difference.
In India, the Pradhan Mantri Jeevan Jyoti Bima Yojana offers low-cost life insurance with automatic premium payments from bank accounts. It still provides a meaningful death benefit.
In Japan, female agents are tailoring insurance products to cover conditions like breast cancer. In Kenya and the Philippines, companies like Linda Jamii and CARD MRI bundle affordable health, life, and disaster protection for women with low incomes.
In disaster-prone regions such as Bangladesh and Nepal, micro-insurance for crops and livestock helps women recover after floods or cyclones. In India, parametric insurance pays women automatically during extreme heatwaves, replacing lost income without needing to file complex claims.
These examples show what inclusive insurance can look like. Regulators can support progress by requiring clearer information, making sure policies follow gig workers, and rewarding companies that design products with women’s needs in mind.
Insurers must also move past outdated assumptions. They should use real-time data to create fair pricing for part-time and interrupted careers, and include maternity and fertility coverage as standard.
Technology companies can help too. With proper consent and strong privacy protections, femtech tools—like fertility apps and pregnancy monitors—can support smarter underwriting. Automation should ensure that insurance policies are only issued once beneficiary information is fully completed and verified.
Education is key. Women need to know not just how to buy insurance, but how to make claims and access benefits in emergencies. Families should regularly update policy details, keep documents in a safe place, and make sure everyone knows where to find them.
Community support is vital. Local health workers, microfinance groups, women’s organizations, and door-to-door campaigns can make insurance understandable and accessible, especially in rural areas.
This isn’t charity—it’s smart economics. The SheForShield Report says that properly serving women could generate $1.7 trillion in new premium revenue each year by 2030.
More importantly, women with insurance are less likely to pull children out of school, drain their savings, or rely on relatives during a crisis. A fair insurance system supports stronger families, more resilient communities, and economies that value women’s financial power.
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