Only few insurers provide women centric products

Rarely does a company provide women centric health products with additional features. Mostly the cover is available via floater policy. However, Bajaj Allianz General Insurance has a woman-specific critical illness (CI) plan that covers congenital defects of the child, usually not covered by a normal CI policy. “The premium is comparable, considering it provides additional benefits,” says Dhruv Sarin, head of health insurance, Policybazaar.com. “Single-payment CI plans do have different premiums for men and women. A CI plan will typically be cheaper for women than for men, because the risk perception is different. Companies like Bajaj Allianz offers CI plans that are more women-specific but the differentiation is in terms of features, and not pricing,” he says. Another CI plan with unique features is Tata AIG’s Well assurance, which offers a proportion of the premium for reconstruction. Aditya Birla Health Insurance offers a cheaper premium for women policyholders in indemnity-based plans. The company has based it on international differential of incidence of illness. Aegon offers a women CI rider that covers pregnancy complications and women-related organ cancers like uterus, ovaries, etc. It also offers coverage for a housewife up to Rs 1 crore, or up to 50 per cent of the husband’s sum assured.