Health insurance for women: Don't ignore these 5 factors

Health insurance no doubt plays a pivotal role in everybody’s life. It is required regardless of gender. But even just a few years ago health insurance was not a priority for women in India. But the scenario is slowly changing and women’s insurance is growing in popularity.

There are many customised plans of health insurance for women available in the market. There are broadly two types of health insurance policies for women – individual and family health insurance plans. These policies are designed after considering women specific illnesses, in addition to the common form of health conditions.

Five factors:

There are at least 5 things to keep in mind while choosing a health insurance for women. Take a look.

1) Coverage for pre-existing diseases

The first thing to check is whether the policy covers pre-existing diseases and illnesses. This may include any health issue such as cancer or diabetes to high blood pressure, thyroid or asthma etc. In such a scenario, you have to disclose your pre-existing medical conditions.

2) Waiting and survival period

The waiting period is the period between buying the insurance plan and the disease getting diagnosed. If a claim is made before the completion of the waiting period, you won’t be eligible for the payout. Waiting periods vary across insurers and ranges between 2 and 4 years.

3) Maternity cover

Does your health insurance plan offers maternity cover? If yes, check if there is any waiting period for same? Until a few years ago, getting coverage for maternity expenses meant paying a high premium. But, the new age health insurance plans include all kinds of maternity expenses, including C-section deliveries, labour pain, etc. And some insurance plans also cover the new-born baby for a specific period. So, check carefully before buying a women-specific health insurance policy.

4) Value added services

Cashless treatment, free medical check-ups, pre and post hospitalisation expenses, among other services which insurers are providing to its customers. These may not be primary to you, but serve as a competitive parameter when you are buying a health insurance policy.

5) Exclusions and limitations

Lack of information before putting money into something is a catalyst for financial disaster. This becomes worse in case of insurance policies, especially health insurance. There are some prominent exclusions in health insurance that largely go unnoticed until doomsday arrives. Clarify any doubts with your insurer before signing the policy documents.