Nearly 50% people underinsured for health, have less than Rs 5 lakh cover: Study
While 48% have less than Rs.5 lakh health insurance, 19% don’t know how they’ll fund a critical illness, claims a recent study by Policybazaar.
By ET CONTRIBUTORS | Updated:
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Are you aware of health insurance?
A recent study by Policybazaar titled "How India buys Insurance 2.0" has the following insights:
Health insurance among top 5 ‘must-have’ products
Which of these are most important and must-have financial products?
Huge gap between awareness and ownership
Are you aware of health insurance? Have you ever considered owning it/ever owned it / currently own it?
Nearly 1 in 2 underinsured with less than Rs.5 lakh cover
What was the sum insured for the last health policy you bought?
19% don’t know how they’ll fund critical illness treatment
In case of medical treatment for critical illness, how do you plan to meet the expenses?
Lack of funds, high premiums major deterrents
Why did you not purchase a policy after thinking about it?
12% of income spent on healthcare costs
Considering your monthly income as 100 for household, what would be the break-up under the following heads?
Affordability top deciding factor for purchase
What aspects were important to you while deciding which health insurance plan to buy?
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
