98% of the women feel health insurance policies need to be more women-centric, finds Reliance General Insurance Survey – Times of India

Clipped from: https://timesofindia.indiatimes.com/spotlight/98-of-the-women-feel-health-insurance-policies-need-to-be-more-women-centric/articleshow/81709087.cms‘What women want’ is not as elusive a question as it is made out to be. Several statistics have shown that the priorities of women focus more on the long-term: health, wellbeing, and stability. For example, women listed buying a house as their number 1 priority, if they were to win a million dollars. What we spend money on and how we plan it is about more than just our needs; it is about our identities, lifestyles and above all else, our priorities. Financial security of their family in general, and in times of health emergencies, top women’s priority list, a study by RGI has found.

Talking of health, the ever-evolving roles both at work and at home greatly affect women’s health, making the need for health insurance vital. Their bodies are biologically different from men; hence, women are more susceptible to critical ailments such as arthritis, breast cancer, auto-immune diseases, menstruation/hormonal issues, etc.

To promote financial prudence and independence amongst millennial women, Reliance General Insurance, conducted a survey commissioned by research agency Nielsen to understand the behaviour and involvement of women when it comes to investment in Health Insurance. The report is compiled based on an online survey of 547 women across 21 Indian cities in the age group of 21-45, 80% of whom, were working and financially independent.

The survey shows that after years, women’s interest in health insurance as a financial security investment has finally gained much-desired importance in the country. As a result, insurers must develop health policies and add-ons that ultimately ensure women’s requirements and that they remain healthy and are also entirely secured against any medical emergency. The study found that approximately 8 out of 10 women have active Health Insurance while around 7 out of 10 plans to invest in Health Insurance in the next six months.

The survey has recorded some fascinating findings, and so, we spoke to five women about their thoughts on health insurance for women. Interestingly, their answers corroborate the findings.

Q. 1 How much is your involvement in health insurance investment?

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Q. 2 How do you think health insurance needs have changed in the last year?

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Q. 3 Do you decide on which policy to buy or to buy one at all – all by yourself or with the help of family members?

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Q. 4 What do you think about the current health insurance plans? Do they lack anything? Can they do anything better for you?

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Q. 5 What are the most important features or benefits you look for in a health insurance plan?

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Women need more preventive assistance than men due to the need for reproductive care and a higher possibility of chronic illness and disability. Also, women take significant accountability for adjusting for a family member, annual health care expenses and are more likely to encounter inconsistent insurance coverage than men. Hence, having women-specific insurance can help them live a stress-free life.

Disclaimer: This article has been produced on behalf of Reliance General Insurance by Times Internet’s Spotlight team.

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