40% Increase in Health Insurance Coverage for Women: Insights from the Data
Posted: Thu Oct 17, 2024 9:37 am
Often, women focus so much on caring for others that they overlook their own health. It's crucial for every woman, whether she's single, a stay-at-home mom, married, or working, to have proper insurance coverage. This is not just about safeguarding health; it's also about financial security and peace of mind. Fortunately, more and more women are now recognising the importance of their health and well-being, as seen in recent trends in health insurance coverage.
A report by Policy Bazaar reveals a 40% surge in health insurance coverage among women in FY'24 compared to FY'23.
Here's what the numbers reveal
A report labelled Women's Health Insurance Trends FY'23 Vs FY'24, shows a spike of 43% in the number of women opting for standalone coverage for themselves.
The data shows a rise from 15% to 24% in women selecting coverage higher than Rs 25 lakh, coupled with a 7% decrease in those opting for lesser sums.
The democratisation of healthcare access is further evidenced by a 10.5% surge in policyholders from Tier-2 cities and a 4.3% growth from Tier-3 cities, breaking the urban-centric barriers and extending benefits to previously underserved areas.