Are you planning to purchase a women-specific medical insurance cowl? Think about selecting a normal medical insurance plan that features maternity advantages as an alternative. Including a separate maternity cowl can considerably increase your annual premiums all through the coverage’s length.

A survey performed by Enterprise Normal revealed that 67.33% of workers confirmed their employers present medical insurance particularly addressing the medical necessities of feminine employees. In distinction, 32.47% reported a scarcity of such protection. Due to this fact, in case your employer’s insurance coverage plan satisfactorily addresses your wants, sticking with it could be the wiser selection, particularly when finances limitations are a priority.

Enterprise Normal lists out 5 the reason why women-specific medical insurance just isn’t value your cash

1. Maternity advantages included: Complete well being plans now generally incorporate maternity advantages, protecting supply bills, new child care from day one, pre and postnatal bills, ICU remedies for the new child, and vaccinations.

2. Help past maternity: Some insurance policies lengthen to cowl infertility remedies and adoption, acknowledging the varied paths to motherhood.

3. Normal well being plans are complete, protecting any hospitalisation

4. Vital sickness plans present fastened advantages for women-specific ailments like breast or cervical most cancers.

5. Maternity cowl will increase annual premiums throughout the coverage time period.

“A normal well being plan covers any hospitalisation, making it complete. All vital sickness plans provide a set profit for ailments particular to girls, corresponding to breast or cervical most cancers,” Kapil Mehta, co-founder of SecureNow says. He factors out the restrictions of women-only plans, which could exclude non-women-specific vital diseases.

Siddharth Singhal, Enterprise Head – Well being Insurance coverage at Policybazaar.com factors out some great benefits of complete protection tailor-made to girls’s distinctive wants, together with maternity and new child care bills, decreased ready intervals for maternity advantages, and protection for infertility remedies and most cancers.

“The insurance coverage market is now providing plans tailor-made for girls, recognising their particular well being wants. As an illustration, Star Ladies Care covers a mom’s keep on the hospital if her youngster underneath 12 is hospitalised, addressing a big concern for moms”, Singhal says.

“Having insurance coverage protection helps alleviate the monetary burden related to well being care wants, from continual circumstances to being pregnant problems,” he explains.

The extent of insurance coverage protection supplied for maternity prices is low, affecting the general profit.

“The introduction of those complete plans meets the growing demand amongst working moms and ladies for extra inclusive medical insurance choices,” says Singhal.

Advantages of medical insurance coverage for girls

Regardless of which plan girls select, prioritising medical insurance is essential. Right here’s why:

Entry to high quality medical services

— With a medical insurance coverage, girls can entry high medical services with out worrying about prices.

— Community hospitals provide cashless hospitalisation, making certain swift and environment friendly therapy.

Safety towards medical bills

— Minor remedies can considerably influence financial savings; medical insurance provides a security web.

— Insurance coverage ensures financial savings stay untouched by protecting medical bills.

Tax benefits

— Medical insurance provides tax advantages underneath Part 80D of the Indian Revenue-tax Act.

— Tax exemption limits range between particular person and household plans.

Tip for girls to pick finest medical insurance coverage

— Go for insurance policies protecting each pre and post-hospitalisation bills.

— Choose plans providing maternity advantages and new child child protection.

— Think about plans with minimal ready intervals if planning a household quickly.

Age issue

— Buying insurance coverage earlier than reaching 30 is advisable as a result of decrease danger of life-style ailments.

— Early buy additionally mitigates points associated to pre-existing circumstances.

Declare settlement ratio

— Select insurers with excessive declare settlement ratios, indicating reliability and effectivity.

— Confirm ratios on the IRDA web site or particular insurer’s platforms, corresponding to United Healthcare India.

Most cancers protection: Search for insurance policies particularly protecting breast and cervical most cancers, vital for girls’s well being.

Hospital choice

— Prioritise insurance policies providing cashless therapy at community hospitals for a hassle-free expertise.

— Make sure the insurer’s community contains hospitals conveniently positioned close to you.

Medical insurance protection issues for girls. It is a crucial consider making well being care reasonably priced and accessible. In truth, a examine by Paisa Bazaar, titled “Ladies’s Well being Insurance coverage Developments FY’23 Vs FY’24,” reveals a big uptick of 43% within the variety of girls choosing standalone medical insurance insurance policies. The info highlights a surge from 15% to 24% in girls selecting protection quantities exceeding Rs 25 lakh, alongside a lower of seven% in these deciding on decrease sums. This pattern not solely marks the democratisation of well being care entry throughout numerous cities but additionally underscores the rising consciousness and prioritisation of medical insurance amongst girls.

First Printed: Apr 08 2024 | 4:00 PM IST