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Health Insurance For Women And Its Importance: Expectations vs. Reality

Health Insurance for Women and its Importance

Health Insurance for Women continues to be an issue. Numerous studies have found that women are underinsured despite contributing to the home and sharing job obligations. Ultimately, the answer boils down to the necessity for insurance customization. When it comes to insurance, there is no such thing as a “one-size-fits-all” solution. Health insurance policies must be tailored to the life phases and health demands of female policyholders.

As men and women have extremely different health issues and treatment demands, women should preferably choose health insurance policies that are highly customized and give broad coverage, such as-

  • Breast Cancer Screening
  • Ovarian Cancer Screening
  • Osteoporosis Screening
  • Psychiatric and Psychological Consultations
  • Cervical Cancer Screening
  • Gynecological Consultations
  • Cervical Cancer Vaccination and other such healthcare

Why is it Important to Buy Health Insurance for Women?

According to the World Cancer Report, more women than males were diagnosed with cancer in India. One of the reasons women require more healthcare services than men is that the expenses of maternity care and treatment have risen quickly.

Women are also more prone to hypertension, diabetes, or polycystic ovary syndrome as lifestyles have changed over the last few decades, which can put financial burdens on medical treatment unless you have an all-around health insurance plan providing extensive coverage and access to quality healthcare worldwide to prevent financial stress.

What a Health Insurance for Women should cover?

Many plans for health insurance meet specified requirements. However, you should seek complete coverage-

  • Maternity expenses
  • Personal accident cover
  • Hospitalization and post-hospitalization expenses
  • Women-specific critical illnesses cover
  • Breast cancer
  • Fallopian tube cancer
  • Ovarian cancer
  • Cervical cancer

it is also important to look for benefits like a loyalty bonus or a premium waiver benefit in the insurance plan because if God forbid that one suffers permanent partial or total disablement, or is diagnosed with critical illnesses, such comprehensive health plans will mostly waive the renewal premium of one year when the primary insured who also is the proposer is affected by a contingency covered.

Things to Keep in Mind While Buying Health Insurance for Women

Be ready for the unexpected: With a health insurance shield, you will be prepared for unexpected future health problems. A sudden medical emergency may bring additional weight to your shoulder without health protection.

Economic alternatives are not enough: you find a selection of basic health plans covering fundamental and minor illnesses when buying a health insurance policy. This insurance may be less expensive, but the coverage supplied is not enough. In emergencies of health care, appropriate coverage must be avoided in the financial crisis.

Purchase personal health insurance: The duration of your company-sponsored or employer-sponsored health insurance policy coverage is directly connected to your time with the organization. When your affiliation with the organization ends, your health insurance coverage expires. In the event of a personal health insurance policy, your insurance coverage is valid as long as you pay the policy payment.

Inflation: If you do not have appropriate health insurance coverage, hospital and medical costs might deplete your savings and drive you into a financial crisis. Medical inflation is rising at an alarming rate, and health insurance coverage may protect your finances.

Tax Benefits: Aside from providing insurance coverage against medical emergencies, a health insurance policy provides you with the benefit of a tax deduction under Section 80D of the Income Tax Act of 1961. Tax breaks of up to Rs. 25,000 are available.

Readers are advised not to rely on the contents of the article as conclusive and should research further or consult an expert in this regard. This article is issued in the general public interest and meant for general information purposes only.

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Written by Hardik Tokas

Hardik Tokas is a law graduate from GGSIPU, Delhi. He is an analytical thinker, an active team player who is proactive in legal research and writing, and has highly motivated enthusiasm for business, start-ups, and entrepreneurship. He has the vision to deliver excellent support to the visionary entrepreneurs and educate them in all legal compliances of applicable laws considering their business level and long term growth. He is a goal-oriented professional and a valuable member of the organization.

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