Why Homemakers Need Medical Retirement Planning Today

December 6, 2025

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Meera is 50 years old. For the last three decades, she has been the emotional anchor of her family, cooking meals on time, helping her children through exams, managing festivals, balancing budgets, and ensuring her home always felt like home. Beside caring for her husband and children, Meera spent years caring for her in-laws, ensuring they received timely medicines, meals suited to their health needs, and emotional support - responsibilities silently carried by millions of homemakers.

Her children are now grown up and beginning their own careers and families. Her husband is nearing retirement. Life is slowing down but Meera’s body reminds her that years of daily physical work came without a break. The mild knee pain she once ignored now demands attention. Studies show many women her age may require a knee replacement within 10–15 years, and such procedures can cost several lakhs, increasing every year due to medical inflation.

As Meera waits for her evening tea to brew, a thought crosses her mind:

“I spent all my life planning everything for everyone. But who planned for me?”

Homemakers dedicate their lives to supporting their families, yet their own financial security is often overlooked. They also often remain financially dependent and are frequently left out of family savings decisions. This blog outlines practical, actionable steps families can adopt - from securing independent health insurance to building long-term investment plans – to ensure true financial security for homemakers.

Why Meera’s Story Isn’t Uncommon

Women like Meera - homemakers in India and across the world dedicate their lives to their families. Yet, while their contribution is priceless, it rarely converts into financial independence or security. They lack a steady source of income, preventing them from building personal savings or a retirement corpus.

Unlike salaried individuals, homemakers do not receive:

● Provident funds

● Employer medical insurance

● Gratuity

● Pension income

They rely fully on family support, often without personal savings or decision-making power in finances.

And with medical costs rising 12–14% every year, especially for lifestyle diseases like diabetes and hypertension, the financial gap becomes dangerous. Life expectancy for women now crosses 70 years, meaning they spend decades without steady income post their spouse’s retirement.

This makes financial and medical planning not just important - urgent.

The Hidden Retirement Gap: What Most Indian Families Overlook

Cultural norms assume "family will take care", but financial realities diverge with urbanisation and nuclear families weakening traditional support. Homemakers are frequently excluded from financial discussions, unaware of investments or policies. They miss provident funds, gratuity, or employer health insurance that salaried earners receive automatically.

Unforeseen events like widowhood, spouse illness, separation, or job loss amplify risks, leaving no fallback. Recognising homemaking as valuable work deserving long-term planning is essential, especially as India's retirement readiness index improved only to 48 in 2025, with many underestimating needs beyond ₹1 crore, according to a study by Kantar Insights.

Why Medical Planning for Homemakers Cannot Wait

Families prioritise insuring earners first, neglecting homemakers despite their central role. Hospitalisation, diagnostics and medications for lifestyle illnesses can cost up to several lakhs per episode, rapidly depleting savings. Homemakers often skip preventive check-ups to focus on family, leading to late detections and escalated costs from treatable conditions turning critical.

Critical illnesses like cancer or heart disease drain finances, and their claims average to around ₹70,558 per incident, up 11% yearly. So, getting an early independent policy locks lower premiums and wider coverage for homemakers, tax-deductible under Section 80D of the old tax regime, ensuring autonomy.

Practical Steps Families Can Take Today

Below are some of the practical steps that families can take to ensure that their homemakers have a stable income after retirement:

A. Get Health Insurance in the Homemaker’s Name

An independent policy guarantees coverage even if the earner's plan lapses. Aim for a ₹10–15 lakh sum insured in metros, with add-ons like critical illness riders, room rent waivers, and no-claim bonuses for cost efficiency.

B. Set Up a Simple Retirement Corpus

Systematic Investment Plans (SIPs) in mutual funds offer an accessible entry point for homemakers, with hybrid conservative funds that suit low-risk profiles by blending equity growth and debt stability. Starting early harnesses compounding: ₹5,000 monthly at 12% return could grow to almost ₹94 lakhs over 25 years. Options like the National Pension System (NPS) provide tax benefits and flexibility, making them ideal for women building long-term wealth, even without a salary.

C. Build an Emergency Medical Fund

Allocate 6-12 months of essential living expenses (₹3-6 lakh for average families) into liquid or short-term debt funds for quick access without penalties. This buffer covers deductibles, OPD costs, or insurance gaps, preventing debt during crises when medical inflation outpaces general inflation.

D. Include Homemakers in Financial Planning

Do not forget to open joint accounts and update nominees on all policies and investments for seamless access. Educate on finances via simple apps, insurance claims, and tools like UPI/net banking. This inclusion fosters independence and preparedness.

E. The Conversation India Must Start: From Appreciation to Action

Homemakers' undervalued contributions, equivalent to full-time jobs, demand recognition through financial safeguards. Empowerment brings dignity, independence, and security, reducing family burdens. Planning is not charity but a responsible strategy, as early starters in their 30s show higher confidence.

A Secure Homemaker Means a Secure Family

A financially secure homemaker means a financially secure family. Homemakers deserve the same financial protection as every other contributor. Rising medical costs and longer life expectancies make delaying planning risky. Families should start the conversation now. Begin with independent health insurance. Add retirement savings through SIPs or pension plans. Include homemakers in all financial decisions. Economic empowerment ensures stability and dignity for the entire family.

-Nini Prasad

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Why Homemakers Need Medical Retirement Planning Today

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