Health Insurance Awareness and It’s Uptake in India
One of the fastest-growing service sectors in the country is the health insurance sector. India has been witnessing an overwhelming response in the health insurance sector for the past few years. Yet, making health insurance affordable and accessible in India is still a big challenge for the health insurance sector, as there is a very large section of the population that has not opted for a health insurance policy.
Our country faces a tough challenge of the ever-rising cost of medical treatments and healthcare services. Indians spend a big chunk of their total annual expenditure/savings on hospital care. This results in taking drastic measures by the population in rural India, as they end up borrowing heavily or selling their assets to cover medical expenses. The escalating cost of medicine and medical treatments eventually contributes to the cause for indebtedness amongst the poor and middle class.
In India, the healthcare expenditures are largely paid out-of-pocket as the budget allocated to the health sector remains inadequate and low. Though, efforts are being made in expanding the reach of health insurance coverage as one means of addressing health disparity and reducing catastrophic health costs.
What can you do to increase your knowledge and awareness about health insurance?
Understand the need for health insurance:
As a consumer you should understand the rising risks of viruses and diseases in India, and the eventual expense of the treatment and healthcare services.
Learn about the significance of a health insurance policy and how it provides a much-needed financial support in case of medical emergency. Health insurance may save you from the burden of financial stress.
Types of health insurance policies:
Having knowledge about the coverage provided in different types of health insurance plans can help you choose the one suitable for you and your family. Acquaint yourself with the various financial and maternity benefits offered in a health insurance cover.
Experience the ease of transaction:
Make sure that you are aware of the cashless treatment facilities provided by health insurance providers. And how easy it is to get treatment in world-class hospitals without spending even a rupee with cashless claim benefits.
Know about the various optional benefits such as add-on cover, no-claim bonus and other that come with a health insurance cover.
Use of technology
Make sure you follow customer-centric advertisements and content that will provide you with the knowledge of health insurance and its benefits. You can follow social media pages of various insurance providers, check out information videos on YouTube, visit insurance company websites, etc.
Health insurance is a topic of inclination. It is essential to clear your doubts about policy, coverage, benefits etc., before buying insurance policy. You can connect with your insurance provider or online support on company’s website and ask questions to clarify all your doubts before choosing a plan.
We all can agree that we are still witnessing economic and developmental growth. But awareness among consumers about health insurance policies is increasing.
The necessity of health insurance for a person is no secret, as a health insurance policy provides you with security from any inadvertent event. To safeguard yourself and your family from any future crisis visit, Kotak General Insurance and choose the health insurance plan that fulfils your needs.
Disclaimer: The content provided is for education and informational purpose only, none of the information contained in our blog amounts to any form of opinion or advice. Please go through policy related documents carefully or consult an expert before making any insurance-related decisions.