Why Women Need To Invest In Health Insurance Plans
Women have now bolstered their roles in almost every sphere of life. However, they still tend to neglect their health as well as procrastinate on buying health insurance, simply due to juggling between their responsibilities at work and at home. Also, women tend to view health insurance as a financial matter and therefore entrust this task to their spouse or parent. But since medical emergencies come unannounced and do not pick a gender, it's time for women to take health insurance into their hands. Women need healthcare because of longer life expectancies, and hence a comprehensive health insurance plan becomes an absolute must.
A health insurance plan tailored to women’s needs which covers maternity and includes IVF & IUI treatments, Breast Cancer Screening, Cervical Cancer Screening, Cervical Cancer Vaccination, Ovarian Cancer Screening, Osteoporosis Screening, Gynecological Consultation, Psychiatric and Psychological Consultations, is what modern women need to consider investing in.
The significance of being covered
Let’s explore and understand why women should purchase individual health insurance plan for themselves.
Financial independence and peace of mind: Spending for a minor or significant medical procedure can wreak havoc on anyone’s finances. Women who are responsible for their as well as their household’s finances will be able to better handle any medical emergencies that arise inevitably or due to any unforeseen events if they have a health insurance policy in place. Their savings will be secured because the medical bills will be reimbursed by the insurance company, thereby, helping them gain financial independence. Moreover, with the right health insurance plan in place women can save themselves the hassle of rushing from pillar to post during medical emergencies. Health insurance provides a sense of financial stability that, in turn, brings peace of mind to an individual.
Freedom from high maternity costs: Women can avoid maternity expenditures and other costs by having separate health insurance coverage on their side. Regular check-ups, ultrasounds, prescriptions, hospitalisation, pre- & postnatal care and other expenses can be expensive. Women's health insurance can assist alleviate this financial strain.
Save on chronic diseases’ expenditure: Life-threatening conditions such as ovarian cancer, vaginal cancer, fallopian tube cancer, breast cancer, uterine & cervical cancer, irreversible limb paralysis, burns, multi-trauma and others have a significant financial impact on everyone. Women, in particular, can breathe a sigh of relief from the entire cost of treatment when they are covered by critical illness cover and specialized packages for women that offers annual screenings, vaccination, consultations and receive a predefined sum to support income loss that critical illness covers promise on a diagnosis.
Ease of lifetime access to quality health care: Health insurance allows everyone, regardless of one’s financial status, to have lifetime access to quality healthcare and advanced medical treatments and simultaneously saves them from exorbitant medical expenses. Any woman can get the best medical treatment in India or Abroad by choosing a comprehensive health insurance plan that offers a high level of protection with Sum Insured ranging from Rs 50 lakh to Rs 3 crore to secure her healthcare requirements at every stage of life.
Early bird gets the worm: Health insurance for women should be purchased when they are young, when their health is at its best and they are free of any medical complications. The benefits of being an early bird include a lower premium cost. At the same time, the health insurance policy provides complete coverage.
Tax-saving advantages: Aside from health protection, health insurance coverage can help insurers save up to Rs 25,000 on taxes under Section 80D of the Indian Income-tax Act against the premium paid. This takes into its ambit the yearly premiums paid for self, children, spouse, parents and any other dependents covered by the health insurance policy.
What should women consider before buying a health insurance plan
It is important to have a strategic approach when buying health insurance. Since there are so many health insurance plans in the market today, women should compare policies and understand the benefits and limitations, as well as the premium. They must look for insurance that covers serious conditions such as breast cancer, cervical cancer, ovarian cancer, maternity and infertility, as well as both pre and post-hospitalisation expenses to keep themselves clear of financial burden for lifetime.
Since there is no one-size-fits-all, it is important to look into one's unique requirements when deciding the coverage. Search for the right policy that has fewer sub-limits, co-payments, deductibles, caps on expenses and so on. Also, look at the claims' status of insurance companies when purchasing a policy. Women should search for a company that has a simple claim process and the one that they can trust to provide compensation in case of an unfortunate happening. This can save them a lot of time and effort.
It is critical for women to prioritise and take care of their health. Dealing with these concerns without health insurance can cause financial stress and deplete savings. As a result, women must seek out a health insurance plan that is tailored to their specific healthcare requirements so that it is easier for them to get financial assistance when they are in need. Make meaningful, lasting improvements to your health and wellbeing by investing in health insurance is an investment you need to put on high priority.
.jpg)
