In many parts of the world, including India, women have a longer life expectancy than men. According to WHO data published in 2021, Indian men’s life expectancy was 69.5 years while for women it was 72.2 years . Women live longer than men but they can also be more at risk of chronic diseases and disability.
A woman, whether she is a working woman or a homemaker, requires an individual health insurance. Health insurance provided by the employer or as a dependent in their husband’s group insurance policy is not enough in today’s day and age where hospitalization and treatments costs are spiralling out of control.
In this article, we will try to find out about the importance of a health insurance policy for a woman and what are the factors which should be considered while choosing a woman health insurance plan. We will discuss things such as inclusions, exclusions, coverage, critical illness cover, and other policy terms and conditions that you should look for in an ideal women’s health insurance plan.
Coverage of Diseases:
There are some diseases and disorders that are more specific to women. For instance, women are more prone to reproductive disorders, breast cancer, cervical cancer and ovarian cancer.
Breast cancer is the number one type of cancer in India. Cervical cancer is the second most common disorder in Indian women. According to a study by Globocon 2020, every four minutes in India, a woman is diagnosed with breast cancer. That means around 1,78,000 new cases are being diagnosed every year. Another alarming thing is that the survival rate for breast cancer is very low in our country. A study published in the Journal of Carcinogenesis disclosed that the 5- and 10-year breast cancer-specific survival (BCSS) was 79% and 70% respectively.
Therefore, a comprehensive women's health insurance plan that offers coverage for various types of cancer is a must for women today. Future Generali Cancer Protect Plan is a good health insurance policy for women as it caters to minor and major stages of cancer which includes women specific diseases, risks and ensures that the policyholder receives the coverage amount, whether cancer is detected at a minor stage. Please read exact terms, conditions, and exclusions of the product for details.
Maximum Critical Illness Cover:
Given that you will be more prone to a myriad of health problems as you grow older, it’s important that you select a women’s health insurance plan that offers comprehensive critical illness cover and includes coverage for a large number of diseases.
Future Generali Heart and Health Insurance Plan is one of the most comprehensive critical illness covers available in the market today. It covers up to 59 critical illnesses and surgical procedures including heart and cancer related ailments. Further, it also offers four flexible plan options to choose from basis your needs.
Simple Claim Process and Good Claims Settlement Ratio:
It’s important that the claim process is easy, hassle free and fast when you need financial protection during treatment and hospitalization. Learn about the claim process even before you take the final decision to buy it. One of the best yardsticks to check the ease of claim settlement is to find out the insurer’s claims settlement ratio (CSR). CSR is the ratio of total claims made by policyholders and the total claims settled by the insurance company.
Maximum Coverage:
Aim for maximum coverage with minimum premium. The best way to ensure this is to get health insurance while you are young, perhaps in your thirties. For example, Anita (32 years) chose the Future Generali Heart and Health Insurance Plan and her monthly premium was just Rs 237 (including GST). She decided on a cover amount of Rs 5,00,000 for an insurance term of 15 years. Thus you see, if you choose the right health plan it can be very cost efficient.
Apart from the above, check that your insurer provides cover for all the stages of the illness – minor, moderate and major stages. Check for lump sum pay out, waiver of premium benefit and multiple claim benefit when you buy women’s health insurance with critical illness cover.
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