The proportion of ladies coated beneath medical insurance has elevated by 40 % in monetary 12 months 2023-24 in comparison with FY 2022-23.

Also, the variety of girls shopping for unbiased well being covers for themselves has grown by 43 % in 2023-24 in comparison with final 12 months, a survey carried out by online insurance broking firm Policybazaar.com has discovered.

“Women have traditionally been known to put their needs last; it is a heartening to witness this change, where women are taking charge and planning to secure their health,” says Policybazaar’s Chief Business Officer Amit Chhabra.

Policybazaar, which stated it reached out to 23,000 feminine respondents throughout India for the examine, has additionally seen a rise within the proportion of ladies policyholders – from 47 % in 2022-23 to 52 % in 2023-24.

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To perceive the nitty-gritties of the examine’s findings, Moneycontrol’s Preeti Kulkarni spoke to Amit Chhabra. Here are the important thing takeaways:

– The proportion of feminine respondents selecting protection of over Rs 25 lakh rose from 15 % in 2022-23 to 24 % this 12 months. Policybazaar has additionally seen a 7 % dip within the share of ladies selecting a canopy of lower than Rs 25 lakh.

– The firm has discovered that the proportion of feminine policyholders beneath the age of 25 years has grown by 22 %, whereas it has seen a development of near 10 % within the 26-35-year age-group. The comparatively older age band of 41-50 years noticed its share develop by round 12 %.

– However, the share of policyholders within the older age group of 51-60 years dipped from 20 % to 17 % in 2023-24. The proportion of these over the age of 60 years, too, dropped from 17 % to 13 %.

Chhabra recognized affordability as the first purpose for this dip, as non-life insurers are inclined to cost greater premiums for these age bands as there are larger probabilities of sicknesses, and subsequently, claims. He stated this factors to a necessity for higher senior citizen-specific insurance policies from insurers.

Also learn: Health insurers launch new senior citizen-specific covers: Are they worth your while?

– The examine confirmed a development of 10.5 % within the variety of feminine policyholders from Tier-2 cities. In the case of Tier-3 cities, the rise was a lot decrease at 4.3 %.

– Policybazaar’s examine has famous an increase of 31 % within the share of feminine policyholders shopping for medical insurance policies that come with maternity coverage.

– Claims filed by girls, too, have gone up by 25 %. Amongst women-specific sicknesses, fibroids (30 %), breast most cancers (30 %), and cervical most cancers (10 %) have emerged as the commonest causes of claims.