75% Women In India Underinsured, Lack Coverage For Critical Treatments, Says TATA AIG Report

Around 75 per cent of women in India are underinsured and do not have adequate coverage against critical treatments. This, despite the fact that women make up for almost half (47 per cent) of the total insured population in India, according to a recent report by TATA AIG.

While there is no standard amount of coverage, it depends on individual preferences and family health history, dependents, affordability, among others. The report by TATA AIG shows that most women have a health cover not exceeding Rs 20 lakh, which could be insufficient for treatments, such as cancer or cardiac surgery.

Emphasising the need for having adequate insurance coverage, Dinesh Mosamkar, senior vice president, consumer underwriting, TATA AIG General Insurance Company, said: “With cancer and other serious illnesses on the rise among women, financial preparedness is more critical than ever. While we see encouraging participation in health insurance, low policy retention and lower coverage amounts indicate that many women remain underinsured. Ensuring adequate coverage and improving access to preventive healthcare will be key to protecting both individual well-being and the broader healthcare ecosystem.”

Lower Insurance Retention After Age 45

Most women do not continue insurance after the age of 45 years. According to the report, around 70 per cent of women having health insurance are between the ages of 25 and 45 years. But, beyond the age of 45, there is less retention, and only about 30 per cent of women continue with their policies.

This highlights the contradictory approach with regards to insurance coverage when chances. Health issues are more likely to occur in old age and this is when one should have an adequate health insurance coverage to prevent any financial blow due to health emergencies.

Adoption Across Regions

The report also showed a skewed insurance adoption rate across regions. Maharashtra has 25 per cent insured female population, whereas in Gujarat and Delhi, this was only 15 per cent. The insurance penetration is even less in other states, requiring more efforts and awareness about the benefits of health insurance, as well as continuing it, especially in old age.

The data also underscored the need of preventive care, especially in case of women. Typically, women ignore regular health check-ups and get to know about the health issue when it aggravates. It not only leads to higher expenses, but also requires urgent medical attention, which can very expensive.