How to Buy Women Health Insurance Policy? 8 Points You Should Never Ignore

Health insurance is as important for women as it is for men.

But only 20% of women aged between 15 and 49 are covered by health insurance, according to the National Family Health Survey (NFHS-4).

Shocked to know this? It’s true.

What could be the reasons?

Is this because women are supposed to be healthier than men? Are they better than men when it comes to money? Or is it because of lack of awareness of women health insurance?

We shouldn’t put the health of women at stake. Women should be provided with the right health policy.

But finding a health insurance plan that suits a woman is tedious. We shouldn’t choose a policy with the sole objective of saving tax.

Here's a checklist you need to tick before you buy a health insurance policy for a woman.

Requirements

Give the health of the women the priority when buying health insurance. Let it determine the type of insurance she needs. If buying a women plan for a family, then consider the number of family members and their age.

For a young family, a basic cover for Rs. 5 Lakh can be ideal. If the family has senior citizens, a larger floater cover is the right bet. If the woman is planning a baby within two years, better choose a plan with maternity benefits. Moreover, check the family’s medical history, and any pre-existing diseases before buying a policy.

Cashless Network

As per the IRDAI, the average claim payout, when it comes to reimbursement settlements, is only half that of cashless claim disbursal for the same disease category. Though insurance companies may dispute this, you should stay focused on the insurers’ network of hospitals that can let you have a cashless claim settlement.

Experts at InsuranceDekho can help you collect correct information about the insurers and cashless treatment facilities. Or you can get the information on insurers’ website. Check the list of network hospitals and make sure if it includes the hospitals that you often visit. Also, find network hospitals in the city you often travel. Going for cashless treatment saves you the trouble of collecting all the documents, submitting them to the insurer.

Maternity Benefits

Medical costs are soaring the sky high. Pregnancy expenses have skyrocketed. It’s important to choose a policy with maternity expense benefits. To buy a health policy, ascertain four key points:

• Consider the sub-limit;
• Look for the applicable waiting period  
• Ensure if the policy covers outpatient expenses related to maternity
• Check the specific exclusions related to the maternity cover

Track Record of Insurers

When searching for a good woman health insurance policy, consider the experience, service record and financial strength of the insurer.

It’s good to take a look into solvency margins. It is the ability of the insurance provider to pay out claims and premium growth registered by the insurance company. For how long the insurer has been in business is also worth considering.

Pre & Post Hospitalization

Choose an insurance plan which covers pre and post-hospitalisation.

To be precise, when you visit the doctor, you pay him/her consultation fee. Buy medicines and undergo medical tests prescribed by the doctor. Unfortunately, you don’t get well, and you’re hospitalised in a hospital. After 2 or 3 days, you get discharged, and the doctor suggests to take certain medicines and visit him/her for the next few days for a regular check-up. During all these procedures (before, during and after), you have to pay all the medical bills from your own pocket.

The point is, you should look for a policy that provides coverage for the expenses incurred pre-hospitalisation, during hospitalisation and post-hospitalisaton. Fortunately, there are health insurance policies that cover these aspects.

Medical checkup:

The next thing is to choose the health insurance that provides you with the free medical check-up option. The medical check-up has no bearing on the premium when policies come up for renewal.

Co-payment

Co-payment means your insurer doesn’t pay out 100% of the medical costs. You need to pay a certain amount from your pocket. Look for a policy which has no co-payment option.

Claim Process

The simple and fast claim process is better for you. So, consider it when choosing a plan for a woman. Quality customer support is an additional advantage.

Also Read

Why Health Insurance Is Important for Women?

HDFC Ergo Introduces My:Health Woman Suraksha Plan Specially Designed for Women

Over to You

Women take the entire responsibility of households. And today, they’re taking up leading roles in almost every sector. They are at a higher risk of illness than men. They’re more likely to suffer from chronic health conditions. They tend to visit doctors more frequently. So, buying them health insurance is a must.

To understand which policy will suit your lady, call InsuranceDekho at 1800-120-5698.