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Why Women Need to Buy an Individual Health Insurance Policy?

Published On Nov 21, 2019, Updated On Dec 09, 2020

According to a survey, only 39% of women have health insurance. 22% of the total female population brought insurance product for self whereas the rest are covered under the products purchased by male family members or employers.

Women getting coverage as a dependent or by an employer in case she is a professional, is a common scenario. But what happens if she or her spouse loses the job, or God forbid, some unfortunate event occurs? 

As per a recent report, nearly 76% of insurance policies offered by employers bring along room rent limit or co-payment clauses. 

So, as important is getting health insurance for women, equally important is seeking an individual health insurance cover

Why you need more than just your corporate cover?

Corporate insurance is never enough. So if you are relying on the corporate health insurance plan, then that might not always be the best idea. Corporate insurance plans look attractive but do not always serve you with comprehensive coverage. Which is why purchasing an individual health insurance plan is paramount. 

Read further to gain clarity on why you must prefer an individual health insurance plan even if you are already covered under a corporate plan-

1. A sedentary lifestyle and critical illnesses 

As women age, their coverage utilisation pattern change. And one of the major reasons for this evolution is the sedentary lifestyle. Due to which, health issues in women have not only grown in number but have also become more complex. Some issues that they are most prone to include heart ailments, cardiovascular diseases, osteoporosis, and breast cancer. 

As per a recent study, women are more prone to chronic illnesses requiring ongoing medical treatment, as compared to men. Which is why being covered under a relevant health insurance plan becomes so important for them. No matter which illness affects them, they will always be secured financially.  

Another reason for women to seek health insurance is skyrocketing healthcare expenses in India. Having an individual health insurance plan will get them covered against most common diseases which they are prone to. It has been noted that the claim size for most common diseases rises with an increase in age. 

2. Maternity benefit and health insurance

Motherhood holds a special place in every woman’s life. But shooting medical expenses are making it a costly affair for the couples in the present times. The fact that they are more inclined towards the cesarean section in comparison to normal delivery, has a direct impact on their hospital bills.  

The question is-are maternity expenses covered under health insurance policies for women? 

Yes, they do. Not as an exclusive insurance product, but maternity cover can be purchased as an add-on benefit in India that brings along some terms and conditions. For instance, waiting period, limits on maternity spend, etc. So, if you are planning to become parents in the near future, then this benefit shall benefit you in a similar manner as a discount coupon.   

Unsurprisingly, women become more prone to complex diseases as their age increases. Which is why it is important that they seek comprehensive cover and not just rely on group health policies to financially secure themselves for the old age. 

You can choose from some best women-centric health insurance plans available in the market like TATA AIG Wellsurance Woman and Bajaj Allianz Critical Illness Insurance. After all, women are a beautiful creation of God, taking care of whom is the duty of all! 

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