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Why Women Must Opt For an Individual Health Cover
[Posted by: InsuringIndia Blog on 04-Apr-2016]
While insurance sector in India has undergone a major metamorphosis in the last decade, there is still a need to change perspectives and increase awareness about health related policies, especially for women. A lot of women tend to leave financial decisions like what insurance to opt for, to the man in their lives – dad, husband or son. And in most cases, women get a medical cover only as part of a family floater. Working female professionals on the other hand have an extra edge because their employer takes care of their medical needs under the group insurance cover. But whether you’re in this category or a homemaker, it is necessary that you opt for an individual health plan because it will take care of your medical needs in a more comprehensive manner. 
In fact, if your healthcare provider can cover women related diseases which may or may not be critical in nature, then you are definitely making a good choice to secure your future. This is because as women grow older, they have special needs, and these don’t get covered in family floater plans. So it becomes very important for a woman to know more about insurance so that she can choose the best health insurance plan. 
What will a woman centric health policy cover which a conventional health policy won’t? 
Changing lifestyle and challenges of modern life at both work and home have ushered in a series of lifestyle diseases that have impacted women across all strata of society. Aside from the fact that you may already have a family history of diseases like stroke, diabetes, heart related ailments, high blood pressure and pre-existing conditions, unlike men there are also a whole set of ailments that are common only to the fairer sex. Though the healthcare policies have evolved with time to address these issues, if you’re working there are chances that your employer may not necessarily have considered this aspect as well. Also, if you are a homemaker, it is pragmatic to opt for women centric health plans anyway, because an illness can manifest anytime. 
It’s notable that insurance companies now offer policies that cater to women’s medical and health needs. In fact, most of the ailments listed below fall in the category of critical illness cover for women and what you need to know is that when you apply for a claim if you’re diagnosed for a critical illness, your insurance company will give you a lump sum payment. Some companies go an extra mile and can allow you to apply for a claim immediately instead of waiting for you to furnish your hospital or medical bills. 
Types of ailments that can strike women 
Breast Cancer 
Fallopian Tube Cancer
Ovarian Cancer
Vaginal Cancer
Cervical Cancer
Burns caused by acid/during an accident/any other mishap
Cancer of uterine lining which is known as endometrial cancer
Tax benefit
You don’t need to be hospitalized to make a claim to your insurance company
It will hold you in good stead if an ailment strikes in your sunset years
It’s your best safety umbrella if you don’t have savings
Note: Read policy documents very carefully and keep an eye out for exclusions. Always opt for buying a policy online as it allows you to compare premium rates, weigh the positives against the negatives of all policies in the insurance market. It’s also easier on the pocket and a more transparent option.

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*This is based on the difference between the highest and lowest premium's for a single person, age 25, looking for an individual health policy with the sum insured of Rs. 5 lakhs.
**This is based on the difference between the highest and lowest premium's for a single person, age 25, looking for a term plan, with the sum insured of Rs. 30 lakhs, and the premium paying term of 30 years.
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