65% of ladies who maintain a HI coverage personal a ladies particular medical health insurance plan
The rising value of healthcare can also be a key cause for buy of medical health insurance.
93% of the ladies taking part in a survey believed that women-specific medical health insurance plans are extremely related. A whole lot of ladies imagine immediate monetary assist in instances of want and safety in opposition to rising incidences of way of life diseases are the highest 2 causes for investing in medical health insurance.
The rising value of healthcare can also be a key cause for buy of medical health insurance.
The ‘Insurance Awareness Among Women in India’ examine by ICICI Lombard General Insurance, was carried out with 779 respondents – ladies aged 21 – 55 years – each insurance coverage homeowners (Health & Motor Insurance) and intenders (Health Insurance) from throughout India throughout metros and Tier 1 cities.
Sanjeev Mantri, government director, ICICI Lombard General Insurance, stated, “The survey highlights the necessity for extra gender-sensitive insurance coverage insurance policies that cater to the distinctive wants of ladies. We are dedicated to offering ladies with insurance coverage options that cater to their particular wants. Our aim is to create consciousness, holistically educate ladies about insurance coverage, and create a seamless, clever buyer expertise that maximises worth for the buyer.”
Key takeaways from the study:
Life stage also influences general insurance use and beliefs.
-A higher proportion of general insurance use was found among ‘Those married with Children’ vs those single or ‘Married without Children’
– More than half of the women (54%) aged 41-55 years, believe age is a key reason for purchase (i.e., ‘I am now older, so I need to protect myself.’)
– 61% of the respondents, believe that 25-34 year is the right age to invest in a health insurance policy.
Financially Independent Women (Own Source of Income)
-Women who have their own source of income are more likely to own insurance. 60% of women who had their own source of income were found to be users of GI
-Have higher levels of overall awareness about GI, Women Centric plans, Features etc., than those dependent on other sources
-Display more independent decision-making in purchase process
Among women intenders of health insurance, purchase process/paperwork is the #1 hindrance for purchase, followed by affordability.
The decision making for purchase is not a completely independent process; only 58% of the women who own HI policy made the decision completely on their own without any help from friends/ family /spouse.
53% respondents believe that websites are the #1 source of information / advice.
Top 5 health insurance features respondents are aware of;
-The cashless facility under the insurance network
-Limit on coverage for different diseases
-Specialised coverage for critical illness
-Complimentary annual medical check-ups
-List of diseases classified as ‘exclusions’
65% of women who hold a HI policy own a women specific health insurance plan
Top 4 things valued most in a vehicle insurance
1. Easy claims process
2. Fair Pricing and cost effective
3. Simple & easy to understand
4. Benefits such Emergency Assistance for women
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