The Importance of Health Insurance for Women in Today’s World

Posted by raghavendra on April 1st, 2021

In today's article, let's talk about the architects of society. The caregivers. The sacrificial. The strong. All synonymous to what women in today's day and age are known to be. 

In every sphere, women from diverse backgrounds are emerging to be navigators! We must applaud and safeguard them at all costs for the ones constantly in a relentless effort to break through the glass ceiling. Women exhibit strength from within, constantly on the run, continually caring for everyone around them. However, a holistic approach toward their health is overlooked. We, at Cover 360, are here to help add a badge of safety by helping women address a dire need, health insurance, primarily catering to their unique requirements.

Irrespective of the fact that she is a stay at home mom or a working professional, everyone, every woman, needs to have a health insurance policy.

Don't believe us? Here's a quick fact.

The insurance market has started incorporating and building insurance plans that cater to women-specific needs and illnesses. Extra benefits like maternal coverage and child care are covered in these specific health insurance catering to women. There are plans for every age group and various life cycles while upholding the handful of roles of being a woman. Let's dive a bit further and look at the benefits of purchasing a women's health insurance plan: 

  • The facility of cashless hospitalisation at the insurance company's network hospital chain.
  • Coverage of pre and post medical costs
  • Health check-up coverage at authorised centres under most plans
  • Maternity and child care benefits inclusive vaccination and pre-natal and post-natal expenditures.
  • Coverage of extended family of the insurer under some plans
  • As per Business Standard, 3 in 5 women in India in their mid-30s are at high risk of heart disease. Coverage against critical illnesses, like breast cancer, cervical cancer, spondylitis, heart attack, stroke, and kidney failure
  • Easy availing of tax benefits under Section 80D
  • Women in their 30s are more at risk of diseases

With that being said, if you are a woman reading this or know a strong someone who must get a secured under a medical women's health insurance, here are 5 factors to ironclad your consideration:

Women Are Prone to Ailments as They Age

According to research published by the World Health Organisation (WHO)

In 2018, India's life expectancy was 67.4 for males and 70.3 for females. While women outlive men as per this global statistic, they are known to be at a higher risk of being tormented by critical diseases and inability. While genetics and lifestyle patterns play an essential role, health insurance purchase as/for women builds a safety net for natural caregivers. 

Deriving Health Insurance Benefits in The 30s

The National Osteoporosis Foundation ascertains the risks of osteoporosis and bone disorders increase in women once they reach the age of 30 because they tend to have less bone tissue than men.

The 30s is the age when women are at a higher risk of illness. This is the perfect time for women to safeguard themselves from critical ailments and shed financial burden during critical life events like gestation.

Safeguarding Motherhood Financially 

Today's hustle-bustle has roped in all genders equally to contribute toward the economy. With rising roles and pay parity in the corporate ecosystem, women are giving due importance to career and personal growth. Entering parenthood in their 30's has become a common decision. To secure women's health conditions and take avid care of the financial resources they work hard to accumulate over the years, medical women's health insurance can be highly beneficial. With rising hospitalisation costs and given the recurring clinical visits post gestation, women's health insurance can cover a magnitude of monetary commitments.

Tax Benefits To Redeem

Under Section 80D of the Indian Tax Policy, Women can redeem tax benefits against all the health insurance premium payments. While an added advantage of securing a woman's health insurance in the 30s can be beneficial for reducing your partner's tax burden, this is just another perk you receive apart from the core medical/health plan coverage.

On Parting Thoughts

Women have an eye for detail. While considering your health insurance purchase, it is advisable to take a good look at the terms of the policy, the insurer reputation, and claim settlement ratio, amongst other things. Having a brief understanding of exclusions, waiting periods, and the extent of coverage will help you as a woman and your immediate family during emergency times. The final sign off requires the keen eye for detail and attention capacity that women naturally exhibit.

Cover 360 is a complete health insurance services platform that offers all the information, comparison facility and easy buying options for the best of women's health insurance policies in India. The trustworthy one-stop solution makes health insurance policy comparison more effortless than ever. It helps you to reach the right insurance products that complement your pricing needs, treatment coverage, and relevant add-on requirement holistically. 

The women's health insurance policy purchase on Cover 360 comes with the added perk of ease of claim redressals, so you can sit back and relax and enjoy a hassle-free experience.

For the natural caregivers and the building blocks of our nation, Cover 360 is always here for all your insurance requirements on the medical front!

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Joined: February 22nd, 2021
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