Finally, Women Start Buying Health Insurance in India!

A lot has changed in the health insurance field in the last few years. Be it the number of new policies being introduced or claims approved and rejected, everything keeps on changing in the health insurance sector on a regular basis.

A major positive change in the past few years is the growth in the number of women opting for health insurance. Yes, women from all across the country have finally understood the importance of health insurance and come up to invest in a health insurance policy that suits their medical needs to a tee.

According to the latest survey, around 6 out of 10 women are now choosing health plans with higher sum insured in upwards of Rs. 5 Lakh. Women of age range starting from 25 years up to 45 years are prioritising their health above everything else. 

Why health insurance is so important for women?

The prominence of health insurance is massive for women. It is crucial for women of today’s time to choose one of the best health insurance policies early in life so that they can take proper care of themselves without encountering the stage of financial instability. 

As per the findings of a study, the average lifespan of women in India is 69 years. Women having an ideal health insurance policy by their side don’t have to worry about ensuring their financial protection while being physically and mentally weak during a medical emergency as their health insurance policy is there to handle all. 

While many young girls have opted for a health insurance policy with their parents while working, many married women have selected the best individual policy for themselves in the past few years. 

The trend should follow in the coming years as well!

Why women should purchase separate health insurance for themselves?

Women investing in separate health insurance was very rare in the past. However, with the passage of time, women have understood that their investment in a separate health insurance policy is extremely important. 

One of the major reasons women should come up and start investing in a separate health insurance plan is sedentary lifestyle & critical diseases and the expenses that accompany. Nowadays, it is vital for women to have themselves secured against high medical expenses that are incurred due to health issues caused because of sedentary lifestyle as well as other ailments such as cardiovascular diseases, breast cancer, osteoporosis, heart ailments, and others. 

Buying a separate health insurance plan is also needed so that women can ensure financial stability at the time of childbirth. Needless to say, be it normal delivery or a cesarean section, childbirth has become extremely expensive in today’s time. Having a separate plan for themselves at a time like such comes across as a major advantage, not only for a woman, but also for other members of her family. 

What do women health insurance plans cover in the first place?

Women-centric health insurance plans are of great use. Since women tend to become ignorant of their health issues, these women specific health insurance plans let them take charge of their health condition as well as financial stability by providing cover for a number of features. The expenses that women health insurance plans cover include - 

• Maternity expenses
• Newborn baby expenses
• Personal accident cover
• Pre hospitalisation and post hospitalisation charges
• Treatment for critical illnesses 
• Livelihood benefit in case of accidental death or permanent disability

What are the benefits related to women health insurance?

When women invest in the best health insurance plan as per their specific needs, they gain: 

• Financial independence for healthcare - Choosing a health insurance policy allows women to be more confident in themselves. This confidence supports them to face the health condition without any concerns related to financial stability or loss of job. What’s best is that they do not have to depend on anyone, but themselves and their health insurance policy to get their best possible treatment done. 
   
• Freedom from maternity costs and other expenses associated with the childbirth - Having a health insurance policy by their side saves women from maternity costs and associated expenses. Women health insurance helps in eliminating financial burden that one can experience from regular check-ups, ultrasounds, medicines, hospitalisation, pre and postnatal care, and many more. Needless to say, without an insurance cover, these costs can heavily impact the savings of a family within no time. 
   
• Critical illness expenditure - Life-threatening diseases such as ovarian cancer, vaginal cancer, fallopian tube cancer, breast cancer, uterine/cervical cancer, permanent paralysis of limbs, burns, multitrauma, and others have a huge impact on any individual. Talking specifically about women, when secured with critical illness coverage for women, they can take a sigh of relief from the entire cost of treatment on receiving the lump sum amount that critical illness covers promise on diagnosis. 
   
• Tax benefits - Health insurance purchase comes along with tax benefits under Section 80D of the Income Tax Act, 1961 for women as well. An amount up to Rs. 25,000 on health insurance premium for self, spouse, parents or children can be claimed. This tax benefit increases to Rs. 50,000 when the health insurance premium is being paid for senior citizen parents. 

What all should women consider before buying a health insurance plan?

First and foremost, women should analyse their specific requirements. The need for maternity coverage, any family member suffering from critical illness and many others qualify for the analysis part. Once women uncover their expectations from their health insurance policy, they should start searching for ideal plans. 

After choosing a perfect policy against multiple options offering numerous health insurance benefits, women should undergo a medical checkup if asked by the insurer. Then, have a detailed look at the policy reviews, inclusions, exclusions, terms & conditions, etc., before making the payment. 

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Conclusion 

Having said that, are you ready to make your first women health insurance purchase? 

If interested in learning more about women health insurance and policies offered, feel free to visit our website.