Why Health Insurance Is A Necessity For Young Mothers?

Parenting is one of the most important facets of all mothers’ lives. They aim to give the best possible life to their children through education, experience and everything else they need. Health insurance plays a central role in helping mothers take care of their children and their family. Hence, this Mother’s Day, you should consider purchasing an adequate and comprehensive health insurance cover for yourself and your family.

Throughout the motherhood journey, there is a need to access quality healthcare, which might come at a high cost. You can avail quality treatment across super speciality and multispecialty hospitals/ clinics at a time of need without running into a financial crisis. When you are a young mother, there are many firsts that you will be faced with. Along with the joyous firsts, there might be some health emergencies that you are exposed to and in such circumstances health insurance is vital.

There are several health insurance policies that are currently available in the market suitable for young mothers. However, each policy might provide different types of coverage, have different premium amounts, etc. Thus, you need to be judicious and informed while purchasing a health insurance policy considering various factors like, how old is your child? What is your child’s cost of education? If you have dependent parents, do they already have a health insurance policy? Once you have taken stock of your requirements, you should explore various health insurance plans available in the market to find the policy that holistically meets all your requirements.

Being a mother also makes you responsible for your child’s health and well-being. In this case, a sound health insurance policy will secure you and you can cover your child/children through a family floater. It qualifies for tax deductions on premiums paid for medical insurance. It is also said that mothers or women are more prone to certain kinds of critical illnesses like ovarian cancer, breast cancer, cervical cancer, etc. A Critical Illness policy which covers specific illnesses including cancer is also recommended to have, thereby avoiding a dent in the bank account while safeguarding yourself against any financial liability.

While purchasing health insurance, it is important to compare plans and assess the benefits. Do a routine check to examine elements such as credibility of the insurer, high claim settlement ratio, availability of cashless claims, network hospitals/clinics, policy term, premium, and riders/add-ons available.

Motherhood is the most important transition that a woman goes through. To avoid any financial distress during this journey, it is important to secure yourself and your loved ones through an adequate and comprehensive health insurance plan.

- Shreeraj Deshpande - Head – Health Vertical, SBI General Insurance.