women's health insurance plans

Why women in India Need to Take an Individual Health Insurance Plan?

Meet Anushka, like most women in India today are empowered as they maintain a balance both at home and work. Anushka is career-driven and won’t shy away from achieving her goals. However, for Anushka and countless other women when it is regarding their health, women often don’t take it seriously and when a critical illness strikes, they are unable to take care of themselves, their families, or their career. 

To safeguard the medical needs of the women of India, insurance companies have introduced health insurance plans that are women-centric and address their medical requirements efficiently. 

If you are a woman caught up in your professional and personal life, we recommend you sign up for an individual health insurance plan right away. 

Meanwhile, we’ll answer some of these important questions for you: 

  • Why do women need a health insurance policy specially catering to their needs?
  • What are the benefits of women’s health insurance plans and policies?
  • Points to consider when buying Health Insurance Plans for Women in India
  • What are the best Health Insurance Plans for Women in India
  • What are the top Health Insurance Plans for Women in India?

Why do women need a health insurance policy specially catering to their needs?

Here are a few reasons why health insurance for women is a must-have for their sole coverage needs –

  • Specific illnesses, like- breast cancer, cancer of the reproductive system, etc. are specific to women. When these diseases occur, the expenses on their treatments are quite steep, to say the least. In case of no health insurance plan, women may face a financial burden in meeting the treatment expenses and thus health insurance for women covering these specific illnesses becomes necessary.
  • Women have the privilege of bearing a child and yet their maternity expenses are huge. On top of it,  if there are any complications at the time of childbirth,  medical expenses might add on. To cover these maternity expenses, dedicated maternity plans based on women’s health insurance plans are a must.
  • Also, women can claim a tax benefit on their premiums that they pay for their health insurance policy. Section 80D of the Income Tax Act, 1961, enables them to avail a deduction of up to Rs.25,000 on the premiums paid for a women’s health insurance policy. This assists women reduce their taxable income and consequently, their tax liability.

Benefits of women’s health insurance plans and policies

Now that we know that women need dedicated women’s health insurance plans, below are some of the benefits which can be availed from such plans.

  • Women enjoy optimal coverage against the illnesses or diseases which they specifically face.
  • Women can avail quality healthcare facilities without compromising on the quality of care when they have dedicated women’s health insurance policy covering their specific medical expenses
  • Women can get coverage against illnesses which are women specific, when they buy women’s health insurance plans. A general policy might not offer any such coverage
  • Women can claim additional tax benefits and plan their taxes with a women’s health insurance plan.

Health Insurance Plans for Women in India

Having known the needs and constraints of Indian women especially the working ones, few health insurance companies have come up with health insurance as online policies that are designed specifically for women in India. Many of the online health insurances covers provide protection against certain critical illnesses including different types of cancers that in specific affect women only. While buying health insurance online in India, women should consider a few other aspects apart from the list of diseases it covers. Here are the aspects of health insurance that needs to be considered.

  • Waiting period for any pre-existing disease
  • Waiting period for maternity coverage
  • Coverage for OPD expenses
  • Value added services on offer
  • Age, room and treatment related limits
  • Network of hospitals with availability of cashless treatment facility

The Best Health Insurance Plans for Women available in India

Finding the best health insurance policy in India for Indian women is not quite simple. The one size fits all criteria doesn’t work in this case. The requirements of women are different with different age and social status, so a health policy can be the best health insurance for a single woman in India but might not work for a married one. Let’s take a dive at what types of health insurance policy suits women in different stages of life.

 Single / Married Women in India

The best available health insurance for a single/married woman is a comprehensive health instance online policy. Depending on their budget, they can also avail critical illness policy alongside the base cover of the policy.

Single Parents in India

Single women parents in India can similarly opt for a comprehensive health insurance plan online that can protect their children too. Single parents should ensure that their chosen health policy covers basic vaccination expenses.

Newly Married Women in India

For a newly married woman in India, can avail a health insurance online plan that offers maternity benefits. Health insurance coverage differs in terms of waiting period for maternity coverage so they should compare health insurance to find out the health insurance plan with least waiting period for maternity coverage.

Women in Indian Joint Families

Family health insurance plans is the best choice for Indian women that live in joint families. There is no lacking of family-floater health insurance plan in India so women should compare health insurance plans online in terms of the coverage, premium, limitations and exclusions and waiting periods as well as other relevant parameters.

Senior Women Citizens

Women in India who are more than 60 years of age can opt for senior citizen health insurance plans which are designed exclusively for them. Elderly women in India must try and get a health cover with lifetime renewal option and post-hospitalisation benefits such as nursing.

Top Health Insurance Plans for Women in India 

When it comes to selecting the top health insurance in India for women, there are two health online insurance plans to look into. These two plans are launched by two reputable insurers in India and offer wide variety of benefits.

      •    Bajaj Allianz Women Specific Critical Illness Policy

  • TATA AIG Woman Health Insurance Plan.

Eligibility

People in the age-group of between 18 years – 65 years are eligible for this health insurance policy. Girl children in the age-group of 3 months – 25 years can readily avail the coverage if they are dependent financially on their parents and if both/one parent is also covered at the same time. The upper limit on age is non-applicable for mentally challenged and unmarried dependent daughters.

Coverage

This Policy is made to offer protection against hospitalisation expenses and accident coverage to women.

Beneficial Features of the two Health Insurance Plans for women-

Benefits and coverage change from a single health insurance provider to another, though there are few common features. Here is a list of common benefits that both health insurance policies for women offer

  • Cashless hospitalisation
  • Pre and post-hospitalisation expenses
  • Maternity benefits
  • Pre and post-natal expenses
  • Coverage for vaccination expenses of new-born babies,
  • In case of critical illnesses like breast cancer – lump-sum pay-out can be availed by the policyholder 
  • Tax benefits

Conclusion

Women in India often put down their own well-being for others, which is why dedicated insurance for them becomes all the more important. Most of the time, they don’t give importance to their own health and they are caught up taking care of their families. But, it is necessary that women in India look after themselves too, especially in the wake of rising life-threatening diseases.

”FAQs:

How can I find the best health insurance plans for women in India?

To find the best of the available health insurances for women, you should always compare and buy a plan online at your own convenience. While comparing, look at the total sum insured, the coverage benefits, premium discounts, add-ons and the premium rate. Choose a plan such that it offers the most comprehensive coverage at the most reasonable rate of premium and that plan can be short listed to qualify as the best health insurance for women.

I am a single mother with kids. Can I buy a family floater health plan in India?

Yes, even while being a single mother you can buy a family floater health plan for yourself and for the kids. When choosing the best health insurance for a single mother, ensure that you choose a reasonable sum insured so that you and your family are well covered. The premium should also be an affordable one so that the policy can be renewed through your lifetime without imposing any financial burden. The coverage benefits of the plan should be suitable according to your needs. Try and compare plans providing best health insurance for single mothers and then buy a suitable policy offering the best benefits.

What is the maximum amount of tax benefit which I can avail if I buy health insurance for women in India?

The tax benefits are up to Rs.25, 000 which increases to Rs.50, 000 if one is aged 60 years and above. Also, if one buys a policy for their senior citizen parents, can claim an additional deduction of up to Rs.25,000 for their policy which would also increase to Rs.50, 000 if their parents are also senior citizens. So, you can claim a maximum tax benefit of up to Rs.1 lakh by getting a women’s health insurance plan.

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