If you (assuming you are female!) have bought an insurance from a financial advisor before, you
might have heard about a special type of insurance that targets
women.
Why Women?
This is because women are susceptible to certain diseases unique to
the female body. In fact, breast cancer is the top killer cancer in
Singapore for women, while ovarian cancer stands at fifth
place.
Other than covering the medical fees incurred for hospitalisation
and surgery (H&S) if diagnosed with one of the female organ
affecting critical illnesses, health insurance for women is
tailored to the different health challenges a woman may face during
her lifespan.
The entry age for women-centric insurance plans start at the age of
16 and ends at the age of 65, but varies across insurance
providers.
Insurance for women occur mainly as two
types: Critical illness or as
a Rider policy.
Most premiums for this type of insurance are dependent on your age.
Insurers usually group certain ages together in a ‘band’, and will
charge you a higher premium if you enter the higher band. This is
linked to the susceptibility to certain diseases as age
increases.
Female-related cancer includes:
Breast
Cervix
Uterus
Ovary
Fallopian
Tubes
Vagina
Most of these insurance plans also include a basic coverage of
other critical illnesses, such as heart attack, dementia, other
major cancers as well as stroke.
Buying female-targeted health insurance may give you additional
benefits such as maternity-related covers and free female health
screenings.
Maternity-related matters such as pregnancy complications or death
of the child is usually not covered under your normal health
insurance. Being pregnant is one of the biggest milestones of being
a woman, so any complications can really wreck a woman physically
and emotionally. Therefore the best you can do is to get yourself
protected financially against this risk.
Another possible benefit is getting free female health screenings
such as mammogram and pap smear. Many people neglect regular health
screenings – sexually active women are advised to go for a Pap
smear once every three years, while women aged above 50 should
undergo a mammogram once every two years.
What You Need To Take Note Of
For many people who have been hit by critical illness, they might
face a rude shock when they try to claim any benefits upon the
initial diagnosis.
This is because most critical illness policies do not cover the
initial stages of an illness or the disease has to meet the exact
definition stated in the policy.
Make sure you read the fine print and know exactly what you are
covered for!
This article was originally on the GET.com
blog at: Health Insurance For Singapore Women: Know The
Basics.
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