Things Women Should Look for While Buying a Health Insurance – Credihealth Blog


Although women and men can have similar health issues, their effects on women may differ. Therefore, women should take the necessary steps to keep medical contingencies at bay, one of which is buying health insurance. However, there is an array of health insurance providers in India and choosing one often becomes difficult. So, we suggest that you consider a number of factors while buying a policy.

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Factors That Women Should Consider While Buying Health Insurance

  1. Determining Adequate Cover and Factoring Inflation

With the rise of so many insurers providing a wide range of extensive coverages, it is important to streamline how much health insurance is “adequate”. We can’t predict future illnesses, but a quick guide is to figure out which hospital you would like to go to in case of a medical emergency, and then check out what their basic and major hospitalisation costs are. Plan and choose health coverages wisely, at the same time overcome inflation and adhere to it. Plan in these ways that help you cover things while you look out for buying health insurance. 

  1. Maternity Insurance Coverage 

With the skyrocketing expenses for maternity care today, a maternity insurance policy is a must for women, so choose a health insurance plan that covers this benefit. Moreover, any individual with a new or existing plan can include maternity insurance policy as an add-on cover.

In addition, the top maternity insurance plans cover the expenses for delivery, infertility-related treatments, and new-born baby cover, among many other benefits.

Read More: Normal Delivery Cost in India

  1. Insurance that Covers Family’s Health 

As the name suggests, this plan covers one’s entire family with a single sum assured. The policy can be used by any member of the family up to the sum assured. Further, unlike individual plans that do not cover an insured’s parents, a family health insurance policy provides coverage to them and takes care of their various health-related expenses. 

In addition, buying a family health insurance cover is more cost-effective than opting for individual policies for each family member.

  1. Analyse the Insurance Amount

Interestingly, there is no ideal insurance amount for a health insurance policy. That said, personal finance experts recommend a health cover of at least Rs.5 lakhs. In addition, individuals should have a cover of about 50% to 100% of their annual income. Here is a simple formula that one can use to determine her health insurance amount:

100% of last 3 years’ hospitalisation expenses + 50% of income = insurance amount

Further, one’s financial stability to pay premiums is another factor to consider. Generally, an individual should be paying about 2% of the annual income on premiums. To derive the exact figures, and make the calculation process easy it is best to use a health insurance premium calculator for a smooth process.

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  1. Choose Network Hospitals for Cashless Transactions 

In case of medical emergencies, the top insurers in India offer cashless hospitalisation at their network hospitals. As a result, an insured need not worry about arranging funds for an upfront payment and filing for reimbursements later. So, while choosing a plan, ensure that its insurance company has a wide network of hospitals and preferably one in your vicinity.

  1. Pre and Post-hospitalisation Charges

Most health insurance plans cover the costs incurred by an insured during hospitalisation. Therefore, it is wise to opt for a plan that also covers expenses after the hospitalisation, such as diagnostic tests, doctor’s consultation charges, medicinal expenses, etc. 

  1. Free Medical Check-up Options

The cost of preventive check-ups for diseases has also gone up over the years. So, when a plan provides free medical check-ups, it allows you to make considerable savings, while safeguarding you from various ailments.

Now that you know the factors to evaluate before purchasing a health insurance cover, go ahead and choose a plan that caters to your specific needs. Moreover, you should skim through its age criteria, waiting period clause, NCBs, and co-payments. 

Here Is an Alternate to Comprehensive Health Insurance : 

Although comprehensive policies offer substantial well-rounded coverage, bearing the premium amount might be difficult for some individuals. Instead, you can opt for an alternative to comprehensive coverage and go for budget options such as Arogya Sanjeevani policy. This cover has been designed by the Insurance Regulatory and Development Authority (IRDAI). It includes standard and basic hospitalisation expenses as well as COVID-19 treatment cover. This policy extends financial support to individuals as well as families in the face of medical emergencies at affordable premiums. You can get coverage under Arogya Sanjeevani policy for up to a maximum of Rs. 5 lakh. However, if you are looking for more extended coverage against reasonable premiums, new age insurers such as Digit offer higher sum insured options of up to Rs. 2 crores.

Disclaimer: The statements, opinions, and data contained in these publications are solely those of the individual authors and contributors and not of Credihealth and the editor(s). 

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