Health Insurance Plans for Women in India

Women today are confident, strong-willed and aware of their rights and responsibilities. Spreading their reach in almost all sectors from corporate to defense services, they are shouldering significant duties with an amazing sense of ease.

Speaking of all things progressive, a well-rounded health insurance for women can be a good way to further steer women in the direction towards progress. With the cases of women health issues constantly on the rise, the need for this financial product grows strong every day.

Here’s a take on what all positive changes health insurance for women can bring –

Benefits of Health Insurance for women in India

Cashless hospitalization

Working closely with a network of hospitals, many top health insurance companies allow you to avail treatment without having to pay for it. All you have to have to do is mention the policy number and the network hospital you are getting the treatment from; and your insurance provider takes care of the medical expenses for you. The cashless hospitalization option saves you a lot of hassle like arranging documentation and claim settlement. Besides, you do not even have to worry about immediate cash requirement when medical emergencies occur.

Pre and Post hospitalization treatment

Depending upon the plan purchased, health insurances also allow you a coverage period of over 30-60 days for pre and post-hospitalization medical expenses. Under this coveragecomes the cost of medical care taken during a specified time period before the date of hospitalization, to a certain number of days after your discharge.

Ambulatory charges covered

While some health insurance plans cover the cost of transporting you to the hospital, a few offer this as an add-on. It is best that you check this with your health insurance provider before making the purchase.

OPD expenses

Although initially policy buyers would need to be hospitalized for atleast a period of 24 hours for them to claim compensation, most health insurance plans these days cover outpatient department (OPD) expenses too. This saves from having to get admitted to avail benefits.

No Claim Bonus

A No Claim Bonus or NCB is an advantage that most health insurance providers give to their customers for staying fit throughout the policy year. As is suggested from the name, this bonus can be availed by policyholders at the end of a policy year, given that they have filed no claims during the time. The form in which this benefit is awarded may vary from company to company.

Tax benefits

Under section 80D of the Income Tax Act, 1961, health insurance policies enable the policyholder to receive certain tax benefits on their insurance plans. Consequently, you get a tax rebate on the premium that you pay for your individual or family floater health insurance.

Common exclusions of health insurance for women in India

Maternity and related healthcare

and related factors such as childbirth, pre and post-natal care are generally not covered under most health insurance plans in India. Besides this, other issues related to pregnancy and childbirth, such as infertility or abortion, are also among the exclusions. However, some specific healthcare plans, in order to provide maximum benefit to women, do include these features within the policy coverage.

Cosmetic surgeries and dental treatments

Even though it may sound unreal, the number of people opting for aesthetic enhancement is on the increase. However, before you head forth to get a plastic surgery donein the hope that your insurance policy will take care of it, do note that most health insurance covers do not include this feature.

Besides, dental treatments, right from root canal to implants are commonly excluded from the coverage too, since they are also considered cosmetic in nature.

Pre-existing diseases

Buyers must make it a point to declare their pre-existing diseases if any, right at the time of purchasing the policy. As is the common practice, pre-existing diseases are only covered after the completion of the specified lock-in period. The lock-in period for pre-existing diseases can be somewhere between 2-4 years from the date of policy purchase.

Diagnostic expenses

The cost for carrying out diagnoses, including laboratory tests or imaging, are also not covered under most health insurance plans, even though these can be quite expensive. However, if these diagnostics result in a hospitalization, your insurance provider will bear the costs.

Alternative treatments

Many insurance companies exclude the coverage for health treatments done using alternative therapies. The simple reason behind this is because alternative treatment measures such as Ayurveda, Unani or Naturopathy cannot help ascertain exact coverage and also have varying costs.

Which one should you buy?

For Unmarried women – For single women pursuing a career or already working jobs, an individual comprehensive health insurance policy will be perfect. Such a plan covers the cost of hospitalization, room rent, physician’s fee, surgeries, and so on. The policyholder can also get her parents and immediate family members added to the health insurance policy.

For Married women– The right kind of health insurance plan for a married woman would be a family floater that also has maternity health coverage. Such a plan would cover the cost of hospitalization and treatments not just for her but also her spouse and children. Comparing various health insurance plans can help you identify the best plan for yourself and your family.

For senior women–Elderly women must opt for a senior citizen health insurance plan, since these are designed to best meet the healthcare needs of people above 60 years of age. When purchasing the plan, the buyer must look for pre and post-hospitalization benefits like nursing, lifetime renewal options etc. They must settle for a plan that has a small waiting period, and covers pre-existing diseases too. Opting for a critical illness cover along with the standard insurance policy will provide them more safety and benefits.

Critical Illness plans in India whichcover Cancer Treatment

  • Bajaj Allianz Critical Illness Cover
  • HDFC Ergo critical illness cover
  • Reliance Critical Illness
  • MaxBupaCritiCare
  • SBI Critical illness
  • Apollo Munich Optima Vital
  • Religare Assure
  • Bharti AXA Smart Critical Illness insurance plan

With the Indian population suffering from life-threatening diseases, including cardiovascular and mental disorders, and women-specific illnesses such as breast cancer hitting females of tender ages too, a health insurance policy is indispensable at this point in time.

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