Health insurance most preferred financial planning instrument for women post-pandemic: Study – Free Press Journal

With the pandemic making working women and entrepreneurs prioritise their health and wellness like never before, health insurance has turned out to be their most preferred financial planning instrument, following the three waves of COVID-19 so far.

The finding was part of the report titled, ‘Health & Wellness: Women as Change Agents” co-published by Onsurity Technologies, India’s first monthly subscription-led new-age employee healthcare platform for MSMEs, and Dun & Bradstreet India, a leading global provider of business decisioning data and analytics.

The report captures the changing preferences of women regarding their health and wellness requirements and how they are overcoming challenges at workplaces and on the personal front.

Women have become more aware when it comes to making their health-related investment decisions. They are making their investment decisions confidently and segmenting their investment mix strategically into health insurance, term life insurance, equity shares, mutual funds, fixed deposits, and systematic investment plans. Health insurance is, however, the most preferred financial planning instrument of Indian working women following the pandemic, the report said.

The report further notes that the wellness trend has gained substantial recognition in recent years, wherein women have become extra conscious of their well-being and have been wanting to live their lives in a healthy way. It highlights their growing lifestyle appetite towards restoring work-life balance along with enrolling in health and yoga sessions for their mental and physical well-being.

Samar Kagalwalla, Head of Growth & Marketing, Onsurity, says, “The pandemic has led women to prioritise their health and wellness. Now with organisations providing good health and wellness policies, women are now getting the support to be emotionally healthy, physically fit, and financially empowered. Our report ‘Health & Wellness: Women as Change Agents” co-published by Dun & Bradstreet is an attempt to raise awareness on how women are prioritising their wellbeing by investing in health insurance while tackling challenges at workplaces. It also takes notes on how organisations are partnering with health tech platforms like Onsurity to offer best health and wellness plans for women.”

Preeta Misra, Senior Director, CBIG & LEIG, Dun & Bradstreet India added, “Holistic wellbeing is very important for being successful in today’s world as we all try to multi-task and manage dynamic situations. For this, apart from EQ and IQ, there is a third Q that is the most important – the HQ, our health quotient.”

The report further noted that health insurance purchase decision by women is greatly influenced by their literacy levels, financial independence, financial decision-making, and potential moral hazard.

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Published on: Monday, March 21, 2022, 05:53 PM IST