International Women’s Day 2024: The government’s initiative to make insurance coverage available to all of India will benefit women by addressing their unique needs and circumstances.
Maternity Coverage: Maternity mortality rate in India has reduced substantially in the last 2 decades from over 500 per lack to 97 per lakh.1 This number is much higher for rural areas and some of the poor states where access to institutional birthing is limited. Comprehensive and comprehensive maternity coverage can help reduce maternal mortality by providing medical access for childbirth expenses, pre and postnatal care, and new-born care to support women through pregnancy and childbirth.
Reproductive Health Services: expanded insurance coverage that includes reproductive health services such as contraception, fertility treatments, and reproductive surgeries can empower women to make informed decisions about their health and family planning, improving female mortality and India’s sex ratio which stands at about 929:1000(female:male ratio)
Breast Cancer Screening and Treatment: Breast cancer is a leading cause of death in Indian women, and survival rates post 5 years of incidence are just 66%, amongst the lowest in the world. Breast cancer screening, diagnostic tests, treatments, and post-treatment care can be covered by tailored insurance plans to ensure early detection and effective management of the disease.
Gender-specific Illnesses Coverage: Insurance policies include coverage for gender-specific illnesses such as cervical cancer, ovarian cancer, and endometriosis, ensuring timely diagnosis and treatment.
Women-specific Health Check-ups: Insurance policies can include coverage for regular health check-ups, preventive screenings, and wellness programs tailored to women’s health needs.
Critical Illness Coverage: Comprehensive coverage for critical illnesses such as heart disease, stroke, and diabetes can ensure access to advanced medical treatments and ongoing care for women facing serious health challenges.
Increase participation of women in work.
The latest Periodic Labour Force Survey for 2021-22 highlights that the Female labour force participation (FLFPR) rate in India for the working age group (15 years & above) has increased considerably to 32.8%, still well below the global average of 47 percent for several years.
Insurance schemes can support women entrepreneurs by providing packaged coverage for businesses, business interruption coverage plans, and fostering entrepreneurship and economic empowerment.
Income Protection: Income protection plans specifically designed for women can provide financial support in case of career breaks due to childbirth, caregiving responsibilities, or health issues.
Childcare Support: Insurance plans may offer childcare benefits to help working mothers cover the costs of childcare services, enabling them to balance work and family responsibilities effectively.
By incorporating these various coverages into insurance policies, insurers could effectively address the specific needs and priorities of women, promoting gender equality, financial inclusion, and overall well-being.
(Source: Special Bulletin on MMR released by the Registrar General of India, November 2022)
