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Importance of Health Insurance for Women

Jagrity Sharma Jagrity Sharma 12 November 2019

A Health insurance policy for women can ensure protection, not just for themselves, but also for their dear ones. Here’s a list of some more reasons why it is vital for every woman to have health insurance in India.

Health Insurance for Women

From films to politics, women are making progress in all walks of life. They are breaking the glass ceiling across different sectors while managing their homes and families with ease. Women are considered to be natural caregivers. However, in this journey of caring for others, women often forget to look after themselves.

While everyone needs a health insurance policy, every woman, whether she is a homemaker or working in an office – needs it. Here are some reasons why is it important for women to have health insurance.

Increasing heart-related ailments

Heart diseases among women in India are on the rise. According to research, approximately 50% of the women in India are at risk of heart problems. Heart-related illnesses are expensive to treat, with expenses running into lakhs at times. Hence, dealing with a heart disease without a health insurance policy can have a significant impact on your finances.

A rise in critical illnesses

As per the World Cancer Report, in India, a higher number of women were diagnosed with cancer as compared to men. Breast cancer had the most occurrences, followed by cervical cancer. We’re aware of the fact that cancer is an expensive disease to treat and can derail your savings completely. There have been instances where people had to sell off their properties and valuables and even take loans to treat such critical illnesses. Having a comprehensive health insurance policy, along with a critical illness cover will reduce your financial burden considerably.

A rise in maternity expenses

One of the reasons women need more healthcare services than men is because of maternity healthcare. With caesarean deliveries on the rise in the country, maternity treatment costs have increased rapidly. After a caesarean delivery, the mother stays in the hospital for three to five days on an average. Even in case of normal delivery, the delivery cost can go up to Rs. 50,000. A health insurance policy helps women and their families to manage maternity healthcare expenses.

Changing lifestyle

Over the past few decades, women have become more prone to diseases such as hypertension, diabetes, polycystic ovary syndrome due to changing lifestyles. They are not only managing their households but also their work and families, which increases the stress factor. This has contributed to the rise in these illnesses. Since women have to seek regular healthcare facility, it is wise to have a health insurance policy to manage their finances better.

As women grow older, they become prone to illnesses. Treatment of any disease is important as any delay on the part of the patient can worsen the medical condition. Moreover, since most health insurance plans have a waiting period for pre-existing ailments, women should not delay purchasing health insurance. A health insurance policy will not only help women to manage their finances in case of medical emergencies, but also enable them to pay more attention to their health. It is wisely said that a healthy woman is truly an empowered woman.

Things to keep in mind while buying a health insurance policy:

Prepare for the unexpected: Having a shield of health insurance prepares you for unexpected health issues that you may face in the future. Without a health cover, a sudden medical emergency can put an added burden on your shoulder.

Economic options are not adequate: When you buy a health insurance policy, you come across a variety of basic health plans that offer coverage for basic and minor diseases. These policies might be cheaper, but the coverage offered would not be sufficient. It is important to avoid a financial crisis during health care emergencies by buying adequate coverage.

Buy personal health insurance: The validity of your company sponsored or employer health insurance policy coverage is directly related to your working tenure with the organisation. As soon as your association with the organisation is over, the health insurance policy lapses. In case of personal health insurance policy, as long as you are paying policy premium, your insurance cover is valid.

Inflation: When you don’t have adequate health insurance cover, hospital and medical bills can wipe away your savings and push you towards financial crises. The medical inflation is increasing at an alarming rate and a health insurance policy can ensure your financial safety.

Be an early bird: Women should buy health insurance policy when they are young. Their health is good, and they are free from any medical complexities. The perk of buying health insurance early is that the premium is lower with comprehensive coverage. As you grow old, the cost of health insurance increases and coverage decreases correspondingly.

Income tax benefit: Apart from providing insurance cover against the medical emergency, a health insurance policy offers you the benefit of tax deduction under Section 80D of the Income Tax Act, 1961. Tax benefits of up to Rs. 25,000 are given.

Final Thoughts

A woman may be the breadwinner of the family or a homemaker, but there is no doubt that a household cannot function without her. Therefore, her health and her safety are of the utmost importance to everyone in the family. It is important that when in need, she gets the best health care facility that is out there to protect her and her family.

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Jagrity Sharma
Written by Jagrity Sharma
A bibliophile who hates alliterations, but loves cream, comics and content immensely! On another note, a content marketer who leverages the power of words to explain...almost anything!