Women Health Insurance

Find out about the importance of buying health insurance for women.
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Health insurance plans for women
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3 mins
22-March-2023

Today, women are gradually moving towards financial independence, and having women health insurance is a critical step towards achieving it. A proper financial planning is crucial for a better and healthy future. And making investment choices is one of the starting steps towards achieving financial goals. Health insurance policy for women is one such apt investment you should look for. It ensures you are financially prepared for any medical emergency without affecting your savings.

Read on to know about how a health insurance policy can be beneficial for women, its coverages, and benefits.

What is a women health insurance?

Health insurance plans for women are specifically designed to cater the medical needs of women at every stage of life. These policies cover all medical-related expenses such as hospitalisation, pre-and post-hospitalisation, pregnancy, childbirth and more. Furthermore, you can customise a comprehensive health insurance policy for women as per your needs to get the full benefit of the policy.

Benefits of women’s health insurance policy

Women health insurance policies act as a safety net that enables you to take care of your health without worrying about finances. Here are some benefits of health insurance for women.

● Cashless hospitalisation

Cashless treatment is one of the most preferred services in health insurance policies. It gives you the required backup to undergo any treatment without stressing about the availability of funds. A cashless facility also eliminates the hassle of undergoing lots of paperwork at the hospital. So, you can only focus on your treatment and recovery.

You can avail of this facility at any of the insurer’s network hospitals. Inform the insurer about your planned admission two days before hospitalisation and in case of emergency, within 48-72 hours. The network hospital and insurer will take care of all the formalities and the bills will be settled directly.

● Pre-and post-hospitalisation costs covered

Health insurance policies for women cover the expenses for any doctor consultations, treatments or diagnostic tests taken before and after hospitalisation. This coverage is offered for a specific duration. Most health insurance companies offer pre-and post-hospitalisation coverage for 30-60 days before and 60-90 days after hospitalisation. This may vary from insurer to insurer. Know more about pre-and post-hospitalisation expenses online.

● Covers recurring costs

Women who are 40 years of age or above are more likely to be diagnosed with serious and chronic illnesses. Such conditions call for ongoing medicine, therapies, and chemotherapy. Women's specific health insurance covers the continuous medical expenses associated with treating these conditions. Therefore, it guarantees the finest care possible both now and after retirement.

● Yearly health check-ups

Medical insurance aids in women's fitness. It provides free annual health examinations, which helps keep a track of health records. You can monitor your own health and take preventive steps to stay healthy with these regular check-ups.

● Maternity coverage

Women’s health insurance policies cover the cost of vaccinations, pre-and post-natal care, caesarean sections, and normal delivery. It also covers treatments related to pregnancy (maternity health) complications and medically necessary termination of pregnancy for up to two instances.

● Tax benefits

You can get tax exemption up to Rs. 50,000 under relevant sections of the Income Tax Act for paying health insurance premiums. The taxable amount, however, depends on your age and income.

Eligibility criteria for buying women’s health insurance plans

Here’s the eligibility criteria for buying women’s medical insurance plans.

Category

Eligibility

Age (adults)

18 years to 65 years

Age (dependent children)

91 days to 25 years

Nationality

Indian

Coverage type

Individual/family floater

What is the need of health insurance plans for women?

Women often put the needs of their loved ones before their own. However, it is essential to prioritise their health and well-being by investing in a health insurance plan designed specifically for women.

Women health insurance covers a range of unique medical needs, from routine check-ups and preventive care to reproductive health services. It also includes coverage for pregnancy-related complications and postpartum care.

A women health insurance policy helps to make healthcare more affordable and accessible. Nobody wants to worry about medical bills when coping with a health problem.

So, women must not hesitate to invest in a comprehensive health insurance plan that offers coverage for women-specific health conditions. Peace of mind comes with a well-planned health insurance policy.

Major factors that affect women health insurance

Health insurance for women has become increasingly important, especially considering the rising healthcare costs. When it comes to purchasing women care insurance policy, it's essential to consider a few critical factors that may affect coverage and cost.

  • Age is one of the significant factors that affects health insurance for women. As women age, they are at a higher risk of developing health problems, leading to higher premiums on their policies. Additionally, pre-existing medical conditions such as diabetes or hypertension can impact the cost of health insurance.

  • Lifestyle choices also play a crucial role in determining the health insurance premium. Insurance providers tend to charge higher premiums who have certain lifestyle habits like smoking, drinking alcohol, or having an unhealthy lifestyle.

  • Medical insurance for pregnant women is likely to cost more due to the additional medical attention and care that would be required during pregnancy and childbirth. Women who are planning to start a family should consider investing in a health insurance plan that offers maternity benefits.

  • Single women may need health insurance that offers benefits for preventive care and emergency treatment. The best health insurance for single women would be the one that covers unique healthcare needs. You can customise the health insurance policy as per your needs. The health insurance premium for such policies depends on the coverages and add-ons chosen.

So, by taking these factors into consideration, women can make an informed decision when selecting a health insurance plan.

How to choose an ideal women's health insurance policy

For their specific coverage needs, women should keep certain factors in mind while choosing health insurance plans for women:

  • Illnesses, like breast cancer, reproductive system complications, and more such cases are specific to women. The medical expenses for treating such ailments can be considerable. So, the health insurance policy for women must cover these specific illnesses.

  • For women, the maternity costs are considerable. Additionally, in case of any complications during childbirth, medical expenses may also increase. To cover these maternity expenses, dedicated women’s health insurance plans to cover such expenses are a must.

  • Women can get tax benefits on health insurance premiums. The exemption is available under section 80D of the Income Tax Act, 1961,

Health insurance policy encourages you to access best of the healthcare services without any worry. It largely contributes to your financial independence, as you are equipped to tackle any emergencies or medical requirements. You can choose to buy individual health insurance or a family health insurance policy as per your requirement. Look for a range of comprehensive health insurance policies online on Bajaj Finance Insurance Mall. Bajaj Finance partners with leading health insurance companies to offer comprehensive and affordable health and mediclaim insurance policies.

Frequently asked questions

How does women's health insurance work?

Women's health insurance plans offer coverage for women-specific medical needs such as preventive care, reproductive health services, pregnancy, and postpartum care. You pay a monthly premium to the insurance provider, and in return, they cover the medical expenses as mentioned in the policy document. Depending on the policy, you may have to pay a deductible, or the insurance provider may cover the full cost of treatment.

Which is the best age to get women's health insurance?

There is no specific age to purchase women's health insurance. However, it's recommended to purchase it at a younger age as premiums tend to increase as you age. Additionally, if you have a pre-existing health condition, it might impact your policy's cost, so you should consider purchasing it at a younger age.

Is maternity cover included in health insurance plans for women?

Yes, most health insurance plans for women include maternity cover. However, the extent of coverage may vary from policy to policy, so it's crucial to read the terms and conditions carefully before purchasing a policy. You can also opt for maternity add-on cover if not included in the health insurance plan for women.

Is there a waiting period for women's health insurance?

Yes, most health insurance policies have a waiting period of 1-3 years. During this time, you may not be able to access certain benefits such as maternity coverage. However, preventive care benefits are usually available without a waiting period.

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Disclaimer

Bajaj Finance Ltd. (BFL) is merely a distributor of third party products from Assistance Services providers such as CPP Assistance Services Pvt Ltd, Bajaj Finserv Health Ltd.(BFHL), AWP Assistance India Pvt. Ltd. (Allianz), Doc Online Health India Pvt Ltd. etc. Issuance of the product is at sole discretion of Assistance Company or Services provider . The product and services or benefits assured under the product shall be governed by respective partner’s product T&C’s and BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance and any claims post sale. Your purchase of an assistance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any product. For more details on terms and conditions, inclusions and exclusions please read the product sales brochure carefully before purchase or subscription. All product information such as membership fees, benefits, exclusions, value added services, etc. are authentic and solely based on the information received from the respective value added service provider or Assistance company.

Note – While we have made all efforts and taken utmost care in gathering precise information about the products, features, benefits, etc. However, BFL cannot be held liable for any direct or indirect damage/loss. We request our customers to conduct their research about these products and refer to the respective product’s sales brochures before concluding their sale.