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Health Insurance for Women in India - How to find the right Insurance Plan?

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According to research, women have longer life expectancy than men, paradoxical to the fact that a woman's body goes through far more drastic changes with age as compared to men. Also, increasing cases of chronic diseases, cancer, heart problem and other health problems coupled with increasing healthcare costs in today's time, makes it even more crucial for women to take their health seriously to be able to sustain themselves through adversity.

This is the reason why every woman must choose for herself and the family the best suited Health-Insurance Policy.

Buying an insurance policy is a complex decision. That's why at TheWOOMag, we have prepared this guide for you. A list of knowledge pointers you should go through before taking the first step towards a secure future.

Points Discussed in the articles are-

What Are The Types of Health Insurance Policies Available in India?
What Is An Ideal Health Insurance Plan Like?
Few Check Points While Buying a Health Insurance Policy
Why Should You Subscribe to a Health Insurance As Early As Possible?

Types of Health Insurance Policies Available in India

Individual Health Insurance Policy: This kind of insurance policy covers an individual against various illnesses and provides cashless facility.

Family Floater Mediclaim: This kind of policy covers more than one person, say a family. The sum insured can be claimed for illness of a single member or more than one.

Surgery & Critical Illness: This one is a stand-alone plan which insures an individual against various serious illnesses like Cancer, Paralysis etc.

Old-Age Insurance Plans: These plans cover you when you are old and more perceptible to diseases. According to IRDA norms, all the companies need to provide cover to people up to 65 years of age.

Preventive Healthcare: This kind of insurance covers the expenses made in treatments that come under preventive healthcare measures like Consultation charges, X-ray fees etc..

Process Flow for How To Find The Right Health Plan for You

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What is an Ideal Health Insurance Plan Like?

With multiple options of Health Insurance Policies brimming around the market; it gets difficult to settle for one. Here are some important features and characteristics of an ideal Health Insurance Policy that you should check for.

Maximum Coverage of Pre-Existing Diseases

Most policies have a waiting period over the diseases which pre-exist at the time of insurance. No claim that is generated due to the pre-existing diseases gets approved in the mentioned waiting period. Hence, an ideal policy has the shortest waiting period.

No Claim Bonus

No Claim Bonus is the bonus amounts you get for the years you don?t claim insurance money against any illness. The ideal Health Insurance Policy promises the maximum No Claim Bonus.

Co-Payment

The Co-Payment Option allows the insured individual and the insurance company to share the expenses in case of calamity. While a larger percentage of co-payment amounts to be received by you can lower the premiums considerably; in times of diseases it might wreck you down monetarily to pay a part of hefty treatment charges. The ideal health Insurance Policy would strike the perfect balance between Co-Payment Ratio and premiums charged.

Pre & Post Hospitalization Expenses

It is very necessary for an ideal Health Insurance Policy to cover most part of Pre and Post Hospitalization expenses in the face of adversity.

Big Network of Hospitals with Cashless Facilities

A Cashless Facility is one which allows the insured to use the services of a medical facility without any cash reimbursement as the insurance company settles the bill directly for the expenses. An ideal Health Insurance Policy would come with big network of Hospitals located in your vicinity.

Room Rents

Renting a room in a hospital in case of major diseases is unavoidable. However, most Health Insurance Policies have a limit to the amount they will incur as room rent. For example, 1% of the amount insured per day; this makes it a sum of Rs 1000 for a person who has a policy of Rs 100,000 per day which is unrealistic in today?s time and would require the insured to pay the remaining amount. An ideal policy has the most flexible limits on room rents.

Least Exclusions

This is very important. An ideal Health Insurance Policy is the one which covers maximum number of health risks possible, especially the ones you are prone to the most.

Why Should You Subscribe to a Health Insurance As Early As Possible?

As a woman we devote our lives to the care of our family more than ourselves. Responsibilities and family grow as we age. Getting insured against health risks as early as possible is the wisest thing you can do. Here are the arguments describing why being an ?Early Bird? is smart, when it comes to Health Insurance:

Age & Insurance Premiums are directly proportional

The risks to your health increase with age and so do the Insurance Premiums. It is hence advised to subscribe to a good Health Insurance Policy as early as possible in life.

Our Lifestyles make us more prone to risks

Our flawed eating habits and lifestyles make us prone to diseases. With age we stand a risk of getting diseases which would be problematic in getting insured later in life.

Health Insurance aids your Financial Planning

An all-covering Health Insurance Policy would cover most of your unforeseen expenses and thus would provide more flexibility to your financial plan. Some policies also avail tax exemption on the premium paid.

Check List for Buying a Health Insurance Policy

Following helped us do this article for you- http://health.usnews.com/health-news/health-insurance/articles/2014/11/14/health-insurance-for-women-how-to-pick-the-best-plan

http://www.healthywomen.org/condition/health-insurance

http://www.thehealthsite.com/diseases-conditions/10-practical-tips-to-choose-the-right-health-insurance/

http://www.hdfclife.com/insurance-knowledge-centre/secure-your-health/right-health-insurance-plan/

https://www.maxbupa.com/health-articles/general-health/best-health-insurance.aspx

http://www.jagoinvestor.com/2015/02/buy-health-insurance-in-india.html

http://www.myinsuranceclub.com/guides/waiting-period-in-health-insurance

http://www.myinsuranceclub.com/articles/are-you-covered-enough-to-fight-medical-inflation

http://www.myinsuranceclub.com/articles/do-not-make-these-mistakes-while-buying-a-health-plan

http://www.policybazaar.com/health-insurance/health-insurance-india/

http://www.policybazaar.com/health-insurance/general-info/articles/a-glance-at-the-evolution-of-health-insurance-in-india/