There is a rise in concern for uninsured Indian women. Despite increased participation of this financially vulnerable section, a major section still lacks coverage for critical treatment. Nearly 80% of women in India do not have a health insurance over Rs 20 lakh which is often required for chronic cases like Cancer or cardiac problems.
This gap in access highlights the immediate need to increase the sum insured and emphasise long-term financial planning for women. “With cancer and other serious illnesses on the rise among women, financial preparedness is more critical than ever.” It has been observed by TATA AIG that while there is increased participation, the policy retention remains staggeringly low. “Ensuring adequate coverage and improving access to preventive healthcare will be key to protecting both individual well-being and the broader healthcare ecosystem,” said Mr. Dinesh Mosamkar, Senior VP of Consumer Underwriting of the company.
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The 40-45 age group is when women go through a large section biological change and preventive healthcare still remains an overlooked aspect of their well-being. Delay in health checkups has become normalised causing a rise in hospitalisation rates and late-stage diagnosis. The financial burden of retaining a health insurance can be overwhelming and thus leads to a hesitation in renewal or a denial altogether. In fact, 56% of Women opt for ₹5-10 Lakh coverage found the report.
The only way to secure better health outcomes for women according to the TATA AIG report is to encourage higher coverage adoption, sustained health insurance policies, and proactive medical screenings. Maharashtra, Gujarat, and Delhi Lead in Women’s Insurance Adoption. While 70% of insured women are between 25-45 years of age, policy retention drops significantly beyond this age, with only 30% of women over 45 having health insurance.
This Women’s Day, tackling the underinsurance crisis is essential to securing financial independence and well-being for women nationwide. Enhancing awareness, advocating for preventive healthcare, and encouraging broader insurance coverage are key measures to bolstering financial security for women and their families.
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