It is no longer the medieval age when women spent all their time indoors, fitting into stereotypical gender roles. With the increasing participation of women in the outdoors and their exposure to the functional external world, it is now high time for women to take charge of their own finances. Health insurance is pivotal to this discussion. It plays a significant role in ensuring that one has financial security at a time of intense pressure or crisis.
Women's Health: A Little Summary
A very valid question that might arise in this context is: Why do women need different health insurance? After all, insurance is not gendered. Well, while it is true that financial matters have nothing to make them biologically disparate, women’s medical issues can actually differ vastly from that of men. This is why it becomes a matter of paramount importance women take things into their own hands and avail of health insurance that is tailor-made to suit their very specific medical scenario.
Maternity Coverage
Say we take into consideration medical issues around maternity. It is a situation that is entirely unique to those assigned females at birth. AFAB (assigned female at birth) individuals hence need a certain kind of coverage. It needs to be adequate for their needs when any issue, complication, or medical scenario around maternity arises. These things will not be something that men’s health insurance will cover. These conditions could be anything, right from a situation arising in the course of carrying a pregnancy to term to a complication arising thereof later.
Read more - Things You Should Know About Maternity Insurance in India
Women-specific Diseases
Other than that, there are plenty of severe illnesses and health conditions that entirely or majorly occur in women exclusively. We can take cases of breast, ovarian, or uterine cancer as examples in this context to illustrate that a number of medical emergencies or long-term disorders that do not involve maternity could also be very central to women. These issues might not be of any significance to a general health insurance plan catering to a man.
Why Should You Have Health Insurance as a Woman?
Apart from the obvious ways in which men’s and women’s health-related needs differ, there are a number of reasons to clearly elaborate on why it is simply a basic need for women to have health insurance.
1. Meet Your Expenses with Zero Worries
Even a slight financial obligation that hits outside of your calculations or what you had foreseen can be a huge burden that might even seem entirely impossible to bear. You will be relieved of such a huge worry if you buy health insurance that provides holistic coverage and is suited to your specific needs. That way, you can comfortably cover your medical emergency without having to compromise or curtail any other financial obligation.
2. Avail the Amenities You Need and Deserve
Expensive health care is often a prerequisite for scenarios like pregnancy, but a holistic health care plan cut out, especially for women, could be just the solution you need to make sure that you are able to get the degree of specialised medical care you need. After all, worrying about affording the urgent care you need should be the last thing on your mind at such a crucial time.
Tax Benefits
The income tax write-off that comes from paying the premium for health insurance is a necessary angle. Section 80D of the Income Tax Act specifies that in the case of women, they can health insurance claim up to INR 25,000 as tax benefits in this context.
Take Your Finances into Your Own Hands
In more ways than one, it is always a good idea for women to take charge of their financial affairs, like their own health insurance, to ensure that they avail of whatever degree of financial security and benefit they are entitled to.
Here's How to Find the Best Options for You
If you are new to the world of finance, it is obvious that things might seem a little overwhelming to you. Here are some guidelines to help you along on your path to financial self-dependence:
1. Do Your Research
Before anything else, you need to be thorough with the basics of your health insurance so that you do not accept less coverage than you deserve. Make sure that your policy covers women-specific diseases such as breast cancer, cervical cancer, etc.
2. Make Educated Comparisons
It is important to take a number of options into consideration and then find the perfect fit for you. For this, your ability to compare and arrive at any decision needs to be guided by an adequately educated cross-checking process.
3. Do not be Late
As many women’s health problems, especially hormonal issues, appear at an early age, it is always a better idea to get health insurance early in the lifetime. This is also crucial because every health insurance has a waiting period and many even do not cover already existing health issues.
4. Make Informed Choices
Whether it is about choosing the insurance amount or about selecting your premium-related details to suit your convenience, make sure you have looked through everything before putting your signature down anywhere. Before you make a long-term commitment like health insurance, you have to be informed enough.
5. Figure Out the Claim’s Procedure
The claims process is perhaps one of the most important organs of buying and availing the benefits of your health insurance. Always go for cashless hospitalisation to avoid problems with reimbursements. Also, have a clear idea about the cashless network hospital.
6. Ensure Your Ancillary Benefits
Health insurance plans often come with vested benefits, but people tend to miss out on them because of inadequate knowledge about them. All you need to do is read the fine print to remain updated on what you are really entitled to.
Final Take
Women are slowly reclaiming the world, and it is high time for you to ensure that you, as a powerful woman, live your life on your own terms. It is not just convenient but also rewarding to find the right kind of health insurance for you. For women, it is extremely beneficial to buy women’s health insurance that actually caters to their specific and differentiated needs.
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