30-03-2021

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

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30-03-2021
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98% of the women feel health insurance policies need to be more women-centric, finds Reliance General Insurance Survey

‘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.

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.

Source: The Times of India