98% females feel health insurance should be more women-centric

98% of females in response to a survey by Reliance General Insurance have called for more women-centric health add-ons to their insurance policies. These add-ons including Menstruation/hormonal issues, PCOD treatment, Mental Illnesses related to Postpartum Syndrome and Osteoporosis Treatment, amongst others. Women are, according to the survey findings, more susceptible to critical ailments including arthritis and breast cancer, auto-immune diseases, menstruation/hormonal issue etc and have also faced health issues due to the widely evolving roles both at home and at work.

The survey further found that women, whilst purchasing an insurance copy, mainly prioritised on the Coverage amount, the network of cashless hospitals covered as well as the claim settlement capability of the insurer. Realising the importance of a medical cover specifically since the emergence of the COVID-19 pandemic, it was found that 57% of all the policies purchased by women were conducted within the past one year, with three of four policies having a coverage of Rs 15 lakh. Seven of 10 women surveyed who currently did not hold any policy, outlined plans to invest in the next six months.

Reliance General Insurance also observed that whilst women did their basic research on health policies through online modes, most eventually shifted to offline mediums and became dependent on either an agent or a family member to take a final call on policies. The insurer attributed this largely due to lack of policy knowledge, or hesitation about a certain product. It was further noted that women had started seeing health insurance as a financial security investment, and that insurers should come up with health policies and add-ons that met the requirements of women holistically, securing against medical emergencies.