Health Insurance & YouEverybody needs health insurance - even you! Unexpected illness or hospitalization can strain your budget like no other. Soaring medical costs are partly due to the advancements in medical technology and therefore, health insurance ensures that you can avail of the best possible medical treatment.
Why is General Health Insurance not enough?
Most health policies available in the market today cover major risks. The health insurance schemes currently available are: individual, family, group insurance schemes, senior citizens insurance schemes, and long-term health care. However, all insurance schemes do not include women specific illnesses or risks such as pregnancy related complications, diabetes, women's cancer etc. Which is why, women need a special women's health insurance scheme to cover any eventuality.
- Health Insurance Policies for Women
Currently, there are only three women-specific health insurance policies in India. These are:
- ICICI Prudential
ICICI Prudential offers you an entire suite of health insurance plans for chronic ailments such as breast cancer, organ transplant, kidney failure, bypass surgery, heart attack etc. There is also a special policy on diabetes. These plans are: Health Assure, Health Assure Plus, Cancer Care, Diabetes care and Diabetes Care Plus. The cancer plan specifically includes cancers that commonly affect women.
These policies allow you to insure yourself for as low as Rs. 1, 50, 000, and up to a limit of Rs. 10 Lakhs. The policy provides reimbursement of medical treatment expenses like hospitalization, doctors' fees, medicines, diagnostic tests and drugs.
- Birla Sun Life Insurance
Birla Sun Life has a special policy for women called the "Critical Illness - Woman Rider". Available for women up to the age of 65 years, this policy allows you to insure yourself for as low as Rs. 50,000 and up to a limit of Rs. 10 Lakhs. It covers illnesses like heart attack, stroke, cancer, kidney failure, ectopic pregnancy, congenital disease of the new born etc.
- LIC
LIC is the only government insurance policy in the women's health insurance market. LIC's Jeevan Bharati offers coverage on critical women's illness like cancer, surgery, heart attack, pregnancy related complications, congenital diseases etc. Available for women up to the age of 65 years, it allows you to insure yourself for as low as Rs. 50,000 and up to a limit of Rs. 25 Lakhs.
- How Women's Insurance Works
In any illness, the overall cost of treatment involves not only the actual cost of treatment (direct cost), but also incidental expenses (indirect cost) such as transportation, lodging, temporary loss of income (if working) etc. These additional costs can enlarge your actual treatment cost to a great extent. The above women's health insurance plans offer a cover on both direct and indirect expenses incurred by you. So, if you happen to be diagnosed by any of these ailments you can claim the benefits of the chosen plan through a claims procedure.
- The Benefits
The main benefit of a women specific health insurance policy is that it will cover any major health issue that concerns a woman - including pregnancy! Other benefits could include:
- Cash payment in whole or installments - for surgery and treatment
- Tax benefits
- Free diagnostic tests and consultation every year
- The Fine Print
Always read the fine print before you opt for an insurance policy - as the list of diseases may vary from one health policy to another. In the case of women's health insurance, there are a few strings attached too. For example, these policies stand terminated if you:
- Have HIV
- Fail to follow medical advice
- Self-inflict injury
- Abuse alcohol or drugs
- Follow alternative therapy over allopathy.
Keeping in minds the rising cost of good medical treatment, health insurance is a must have today. It ensures peace of mind - so choose one that suits you best and insure your health.
