Concerns are mounting regarding the lack of health insurance among women in India. Despite a notable increase in their participation in the workforce, a significant number still find themselves without adequate coverage for essential medical treatments. Alarmingly, nearly 80% of women in India lack health insurance policies exceeding ₹20 lakh, which are often necessary for serious conditions such as cancer and heart diseases.

The Urgent Need for Enhanced Health Coverage

This alarming gap underscores the critical need for raising the insured amount and prioritizing long-term financial planning for women. As Dinesh Mosamkar, Senior VP of Consumer Underwriting at TATA AIG, notes, “With the rising incidence of cancer and other serious health issues among women, being financially prepared is more crucial than ever.” Although more women are engaging with insurance products, the retention rates of these policies remain shockingly low.

• Key Statistics:
  • 56% of women choose coverage between ₹5-10 lakh.
  • Only 30% of women aged 45 and above have health insurance.

The Overlooked Importance of Preventive Healthcare

Women aged 40-45 experience significant biological changes, yet preventive healthcare is often neglected. This oversight has led to a troubling trend: delayed health check-ups have become commonplace, resulting in higher hospitalization rates and late-stage diagnoses. The financial strain of maintaining health insurance can be daunting, causing many to hesitate at renewal or to forgo it altogether.

Regional Insights on Insurance Adoption

In terms of insurance adoption among women, states like Maharashtra, Gujarat, and Delhi are leading the way. Interestingly, 70% of insured women fall within the 25-45 age range, but this number plummets for those over 45.

Empowering Women’s Financial Security This Women’s Day

As we approach Women’s Day, addressing the issue of underinsurance is vital for fostering financial independence and well-being among women across the nation. Increasing awareness, promoting preventive healthcare, and advocating for broader insurance coverage are essential steps toward enhancing the financial security of women and their families.

By embracing these measures, we can pave the way for a healthier future for women in India, ensuring that they are not only covered but also empowered to take charge of their health and well-being.