Top 5 Benefits of Buying Health Insurance for Women

Women are the primary caretakers of our society, and vital pillars for their families. Be it a working woman or a homemaker, they juggle the manifold responsibilities with ease. It is no wonder then that health issues in women negatively impact not only the individual woman and her family, but also the society at large. Though both men and women face health-related issues, women are more prone to certain health ailments.

According to a report by National Institute of Child Health and Human Development, women are much more vulnerable to a host of health issues, like cardiovascular ailments, hypertension, osteoarthritis, diabetes, depression, STDs and UTIs. Alongside, women-specific diseases, like cervical and breast cancer are also on the rise. As per a report published in Lancet, by 2020, breast cancer will become the most common type of cancer- the second being cervical cancer - among women in the country. Women are also susceptible to Non-Communicable Diseases (NCDs), heart attacks, stroke and respiratory diseases.

Because of these grim reports, it has become imperative to underline that health issues in women require special consideration. Various health insurance companies now extend coverage to conditions like breast cancer, cervical cancer to ensure that women’s treatment is also covered. This provides health security to women by extending financial coverage for a wide array of common and women-specific diseases. 

Understanding the Urgent Need for Women to invest in Health Insurance:

Health insurance can provide a comprehensive solution to safeguard women’s health and ease the financial burden of meeting the cost of treatment. Without a health insurance policy, medical expenditure can leave a woman’s financial situation in shambles. As per data from the Central Statistical Organisation (CSO), the average retail healthcare inflation in the country increased sharply from 4.39% in 2017-18 to 7.14% in 2018-19. With rising hospital expenses, it becomes necessary for women to invest in insurance. Fortunately, before buying health insurance policy, you can now compare health insurance plans, and zero in on the policy that suits you the best. The right age for health insurance  is when you are still young and in good health. It can help women avail a comprehensive insurance plan at lower health insurance premiums. 

Can an active lifestyle help with health issues in women?

Stress and a sedentary lifestyle are among the major contributors for health issues in women. Regular workout for housewives who rarely indulge in physical activities, like brisk walking - can ward off many lifestyle diseases. Along with an active lifestyle, a healthy diet can go a long way in preventing diseases.

Top 5 Benefits of Health Insurance: 

1. Flexibility in Choosing a Plan:

The foremost benefit of health insurance is that you can choose from a wide variety of policies. You can select an individual health insurance plan or a family health insurance plan. Alongside, you can also choose from health insurance plans, for specific needs. These include critical illness insurance and personal accident policy. A critical illness insurance policy will provide you a lump sum amount in the case of being diagnosed with a wide array of life-threatening medical conditions. These include cancer, heart attack, kidney failure, stroke, multiple sclerosis, permanent paralysis of limbs among other conditions. A personal accident policy will provide financial support in the case of partial/permanent/temporary disability too. Women can also enhance the health insurance coverage by availing a top-up plan. Women can also choose to avail critical illness insurance, which provides coverage for the cost of treatment of various types of cancer. Alongside, you can also zero in on a plan, which covers a host of women-specific diseases.  

2. Access to Best Medical Facilities:

Another health insurance benefit is that women receive access to the best medical facilities via comprehensive hospitalisation coverage. An independent woman can conveniently receive cashless hospitalisation cover at the insurer’s network hospital. Here, the insurance company directly settles the medical bills and cost of hospitalisation with the hospital, and out of pocket expenses are minimal in most cases. You can also claim reimbursement, in the case of availing medical treatment at a non-network hospital. The best medical facilities will ensure a speedy recovery.  

3. Financial Coverage for a Wide Range of Medical Expenses:

Among the benefits of health insurance is coverage for a gamut of medical costs, like pre and post hospitalisation expenses, day care expenses like, chemotherapy and dialysis and 500+ other procedures. A woman’s health insurance coverage can also include OPD and diagnostic services, no sub-limit on room rent, access to alternative treatment, No Claims Bonus (NCB), in-built travel assistance and a high-value sum insured. Besides, it can also cover a wide range of professional fees and hospital-related service charges. 

4. Peace of Mind:

Among the manifold benefits of health insurance plans is that the plan will ensure complete peace of mind, in the case of an unexpected medical emergency. Women can enjoy the financial security, besides a hassle-free and seamless claim settlement process. A woman, availing a personal health policy, can also get access to the feature of assured, lifetime renewability, even if a claim has been made in the previous policy year. 

5. Tax Saving Benefits:

Along with providing health security, health insurance for women will also provide the benefit of tax exemption under Section 80D of the Income Tax Act, 1961.  A woman taxpayer can claim an annual deduction of Rs 15,000 from her taxable income for health insurance premiums for self, spouse and dependent children. 

Conclusion:

Among the plethora of health insurance plans available in the market, it can be difficult to choose the right women health insurance plan. You can zero in the health insurance plans by Niva Bupa, which provides comprehensive and robust coverage. What’s more, you can choose from a range of plans such as individual plans, family floater plans, wellness plans, top-up plans and plans for specific need.