Insurance For All By 2047: How Will It Benefit Women
The Indian government's ambitious "Insurance for All" initiative holds immense potential for women. By offering comprehensive and accessible insurance products, the program can address their unique needs and circumstances, fostering greater financial security, improved health outcomes, and increased participation in the workforce.
Some of the Benefits of Insurance for all for Women
Addressing Maternal Health Concerns
India has made significant strides in reducing maternal mortality rates, but disparities persist, particularly in rural areas as mortality rate in India has reduced substantially in the last 2 decades from over 500 per lakh to 97 per lakh. "Insurance for All'' can bridge this gap by offering comprehensive maternity coverage. This coverage can encompass medical expenses for childbirth, pre and postnatal care, and newborn care, ensuring safe and well-supported deliveries for mothers.
Empowering Reproductive Choices
Expanding insurance to include reproductive health services empowers women to make informed decisions regarding their health and family planning. Coverage for contraception, fertility treatments, and reproductive surgeries can improve female reproductive health outcomes and contribute to addressing India's skewed sex ratio as India’s sex ratio stands at about 929:1000(female:male ratio).
Combating Breast Cancer
Breast cancer remains a leading cause of death among Indian women. Tailored insurance plans can provide critical support by covering breast cancer screening, diagnostics, treatments, and post-treatment care. Early detection through regular screenings and access to effective treatments can lead to significantly improved survival rates.
Addressing Gender-Specific Illnesses
Many insurance policies lack coverage for specific illnesses that disproportionately affect women, such as cervical and ovarian cancers, and endometriosis. "Insurance for All" can ensure the inclusion of these illnesses within insurance plans, enabling early diagnosis and prompt medical intervention.
Promoting Preventive Healthcare
Regular health check-ups and preventive screenings are crucial for maintaining good health. Insurance coverage for women-specific health check-ups, including preventive screenings and wellness programs, can empower women to take a proactive approach to their health and well-being.
Financial Security During Critical Illness
Critical illnesses like heart disease, stroke, and diabetes can have a devastating impact on individuals and families. Comprehensive critical illness coverage ensures women facing such challenges have access to advanced medical treatments and ongoing care, providing financial security during difficult times.
How can we Boost Women Involvement
India experiences a significantly lower female labor force participation rate compared to the global average. "Insurance for All " can contribute to increasing female participation through various means. Income protection plans can financially support women during career breaks due to childbirth, caregiving responsibilities, or health issues.
Additionally, childcare benefits offered through insurance plans can help working mothers balance work and family life more effectively.
Empowering Female Entrepreneurs
Women's entrepreneurship can be a powerful driver of economic growth. "Insurance for All" can foster entrepreneurship and economic empowerment for women by offering packaged coverage for businesses, providing security against business interruptions, and mitigating financial risks associated with entrepreneurship ventures.
The Path to a More Equitable Future
By incorporating specific coverage for maternity care, reproductive health services, critical illnesses, and preventive healthcare, along with income protection and childcare support, "Insurance for All" can address the unique needs and priorities of women. This comprehensive approach has the potential to promote gender equality, financial inclusion, improved healthcare outcomes, and a more equitable future for women in India.
Conclusion
The "Insurance for All" initiative by 2047 will offer a transformative opportunity to empower women in India. Tailored insurance coverage can address their specific needs, enhance their overall well-being, and pave the way for greater participation in the workforce and entrepreneurial endeavors.
By ensuring financial security, improved health outcomes, and greater control over their lives, "Insurance for All" can create a more secure and prosperous future for women in India.
