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This article is more than 6 month old.

Mother's Day 2021: Here's why health insurance is must for all mothers

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Health insurance plays a central role in helping mothers take care of their children and their family.

Mother's Day 2021: Here's why health insurance is must for all mothers
Parenting is an important facet of all mothers’ lives. They aim to give the best possible life to their children through education, experience and everything else they need. Health insurance plays a central role in helping mothers take care of their children and their family. Hence, this Mother’s Day, you should consider purchasing an adequate and comprehensive health insurance cover for yourself and your family.
There are several health insurance policies that are currently available in the market. However, each policy might provide different types of coverage, have different premium amounts, and varying exclusions. Thus, you need to be extremely judicious while purchasing a health insurance policy.
As a first step, you need to first assess your requirements. How many family members need to be covered? Are you the sole provider for the family? How old is your child? What is your child’s cost of education? If you have dependent parents, do they already have a health insurance policy? Once you have taken stock of your requirements, you need to research on various health plans available in the market to find the policy that holistically meets all your requirements.
Being a mother also makes you responsible for the health of your family. In this case, a sound health insurance policy will save your family from uncertain and unpredictable medical expenses which can often strain you financially. A family floater health insurance plan can often be the best when it comes to safeguarding the health of your family.
Apart from providing the necessary protection to all the members of your family under a single policy, it is also more cost-effective than purchasing multiple policies. Besides this, it also qualifies for tax deductions on premiums paid for medical insurance up to Rs 25,000. Additional tax deduction of Rs 25,000 is available for insurance paid for parents aged less than 60 years and Rs 50,000 if parents are above 60 years of age.
It is said that mothers or women are prone to certain kinds of critical illnesses like ovarian cancer, breast cancer, cervical cancer, etc. A Critical Illness policy that covers specific illnesses including cancer is also recommended to have, thereby avoiding a dent in the bank account while safeguarding yourself against any financial liability.
Purchasing the right health insurance policy is imperative for all mothers, whether you are a single mother, a to-be mother, or the mother of a grown-up child. This is important not just for your health and well-being but also for protecting those people whom you cherish the most.
The author, Subramanyam Brahmajosyula, is Head – Product Development at SBI General Insurance. The views expressed are personal
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