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Why Women Believe They Don’t Need Health Insurance

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Need of Health Insurance Plans for women
November 30, 2018

Let’s talk about Rama. She is a smart and responsible woman in her mid-30s working as a manager in a multinational corporation. While her husband burns the midnight oil at his office, she strives to finish her work on time so that she can come home and be there for her kids. She performs every single task required of her to the best of her ability, ensuring that both her house and office function like well-oiled machines. This, of course, demands her to juggle multiple responsibilities, often at the same time – uncannily reminding anyone who knows her well of Jessica Jones, the non-superhero superhero.

Seriously, right from helping her little ones with their homework to getting rid of the pesky roaches, handling day-to-day budgeting to taking significant financial decisions, she does it all on her own like a pro. And that’s not even mentioning all the crises she resolves at work regularly. But ask Rama if she has applied her monetary smarts to herself by investing in a health insurance plan that will allow her to pay for unexpected medical expenses, and the answer is a nonchalant shake of the head.

Surprising as that may be, it is not uncommon for Indian women from different walks of life to respond in a similar manner. Despite multitasking all the time, they seem to let the focus on their own well-being slip through the cracks while spending day and night caring for others. Ask them why they don’t feel the need to buy a health insurance policy for themselves, and here are a few mutual answers you might get:

1.“I’m as healthy as a human being can be.”

Well, you might be the picture of perfect health today, and that is extremely incredible, but there’s a reason health insurance companies consider women to be a bigger risk than men. They’re more likely to suffer from chronic health conditions like heart diseases, reproductive problems, cancer, and depression. And truth be told, the rising levels of pollution and lifestyle illnesses are not exactly doing you any favours. The whole point of health insurance is to come in handy in case you require medical assistance without leaving a dent in your family’s financial stability. After all, even Jessica Jones is not totally invincible.

2.“My husband’s policy covers me.”

Okay, but that means it’s a family floater plan and it possibly also covers your in-laws, who are more likely to need medical attention at their age than you do at yours. And if, by a stroke of a bad luck, they happen to get hospitalised, there might not be much sum assured remaining for you, thus defeating the entire purpose of the policy. Don’t you think it is better to have an individual health insurance plan that is tailored to your specific needs and protects you when necessary?

3.“I can’t afford the premiums.”

If you think buying health insurance for yourself will make your family bleed financially, you need to think again. While it’s true that women have to shell out higher premiums for the same sum assured due to greater longevity, it is equally true that the impact on your finances will be even more hard-hitting without a sound insurance plan in place. If you think money is tight now, how tight do you think it will be if there is a medical emergency? The right policy will make sure you aren’t biting off more than you can chew and provide you with an adequate cover.

4.“My employer’s got my back.”

Yes, but your employer doesn’t love you as unconditionally as you may think. The group policy cover at your workplace is tied entirely to your employment, which means that in case you are ever out of a job, you are vulnerable to the skyrocketing healthcare costs till you find another job with a halfway decent policy. Besides, chances are your company is doing everything it can to save expenses by cutting benefits and giving you the bare minimum cover. So, do you truly believe your employee health insurance is a good enough safety net?

It’s quite simple – humans are not infallible, and life is sadly unpredictable. It doesn’t make sense to go through life caring for everyone around you without sparing any thought to your own needs. Because if something were to happen to you, the house that runs so smoothly and the children that feel so protected will be left without the greatest support system they have. That is why every woman, regardless of her age or marital status, should be the proud holder of a sound  women insurance policy.

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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