Find out the age at which you should get insured and the cover size you may need, going by the claims data of health insurers
It’s a common perception, and one that is probably responsible for the vastly underinsured Indian population. Health insurance, people believe, is mostly required in old age or for critical illnesses like cancer and cardiac diseases. The rise in incidence of these illnesses and the escalating treatment costs have strengthened this belief. However, claims data from the health insurance industry dispels this notion. It points to the need for health insurance at a younger age. Besides, the rising future cost of treatment and list of ailments that account for the biggest share of claims serves as an indicator for the size of insurance you should have as well as the illnesses you need to cover.
BUY BASIC HEALTH PLANS
The need for basic health plans in your insurance portfolio is clearly indicated by the industry data. According to the ICICI Lombard claims figures, digestive, genitourinary and infectious diseases accounted for over 45% of all claims in 2018-19 in terms of volume. For Bajaj Allianz, fever of unknown origin, infectious gastroenteritis, classical dengue fever and cataract accounted for the maximum number of claims. Fever and infectious diseases comprised 30% of all Royal Sundaram General Insurance’s claims.
BUY BASIC HEALTH PLANS
The need for basic health plans in your insurance portfolio is clearly indicated by the industry data. According to the ICICI Lombard claims figures, digestive, genitourinary and infectious diseases accounted for over 45% of all claims in 2018-19 in terms of volume. For Bajaj Allianz, fever of unknown origin, infectious gastroenteritis, classical dengue fever and cataract accounted for the maximum number of claims. Fever and infectious diseases comprised 30% of all Royal Sundaram General Insurance’s claims.