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How Ladies Can Benefit From Women-Centric Health Insurance Plans

Adhil Shetty
Photo: www.freepik.com

Women in India are today donning many hats. They are juggling their work lives and their family lives successfully. However, despite being at the forefront of all the major family matters, including financial ones, they often tend to ignore their own needs. Foremost amongst them is the need to take care of their own health and well-being. As per the National Sample Survey Office (NSSO) 2016 data, women in India are more at risk of falling sick compared to men owing to nutritional deficiency and stress. This has resulted in a substantial increase in the morbidity rate for females in India.

So, with a rise in lifestyle-led diseases, it becomes important for women to take some crucial financial steps like owning health insurance. This would help them be financially prepared to deal with the rising healthcare and hospitalisation costs. Many insurance companies offer specialised insurance plans catering to the special needs of women. Take a look at some benefits which various women health insurance plans offer:

Children Education

Many insurers offer women-centric plans that offer the benefit of bearing child education in case of a critical illness diagnosis. If you have bought the apt health insurance plan with children education benefit, not only will the costs of your treatment be taken care of, but a portion of expenses of your children’s future education will also be covered.

Cover For Loss Of Job

Under critical illness cover, you will be paid a lump sum upon the diagnosis of a covered critical illness. This payout will help compensate for the loss of income or employment during the treatment of your critical illness.

Congenital Disability Benefit

According to research by The National Center for Biotechnology Information, close to 4.8 lakh, children are detected with congenital disabilities such as down syndrome, cerebral palsy, and Fragile X syndrome at birth. Unfortunately, the cost of treatment of such conditions are extremely high, but there are health insurance plans in India which provide up to 50% of the sum insured to you if your child is born with a congenital disability.

Cosmetic Reconstruction Surgery

Cosmetic reconstruction surgery helps in correcting any facial or bodily abnormality which could have occurred due to an injury, disease, birth defect, etc. Cosmetic reconstruction surgery can be performed to improve bodily function or correct the deformity. Some examples of cosmetic reconstruction surgery can be breast reconstruction following mastectomy for breast cancer, cleft lip and palate repair. There are women-centric health insurance plans that cover the costs of such surgeries.

Newborn Baby Cover

There are various health insurance policies available in the market today which provide maternity cover and take care of both the pre-natal and post-natal expenses. However, there are various other costs that you will incur while taking care of your newborn baby. You will come across health insurance policies, where a cover for the medical expenses of your newborn baby is provided for 90 days from the date of birth of the child. Once the 90 days are over, you will have to pay an additional premium following which the baby automatically becomes the member of the health insurance policy and is eligible to receive its benefits.

Menopause Cover

Your body undergoes various hormonal changes as you grow old. One of the discomforts that you will encounter with age is menopause where your various reproductive organs no longer function at its best. In such cases, the treatment of menopause becomes important. Unfortunately, not only is the treatment costly, but you also face problems getting a cover for the same. However, if you conduct thorough research, you will come across health insurance plans which cover the cost of treatment of menopause. You can opt for proper medication and therapy without having to worry about the cost.

These are the lesser-known benefits that various health insurance policies in India provide to women. Though there is a possibility of such plans being expensive compared to conventional health insurance plans, the savings from claiming such benefits are incomparable. Before you take a women-centric plan, you should weigh in all your options.

The author is CEO, BankBazaar.com