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Articles 1221 views March 9, 2020
India is the second most populated country in the world and it is one with the highest young population. Yet, a large population in India is either unaware of health insurance policy, or are comfortable with what their companies provide. With a fast-paced life and lack of exercise, most of the Indians are exposed to the threat of various ailments and diseases, therefore the need for a health insurance plan covering the rising cost of healthcare is a must. However, it is alarming to know that not many Indians ignore the importance of a health insurance plan.
According to IRDAI (Insurance Regulatory and Development Authority of India) an apex insurance regulatory body, approximately 44 percent of the 1.30 Billion Indian population has a health insurance cover, while the rest of the majority of the population is covered under national health insurance schemes. Additional statistics from public research data states that only 5% to 8% of the Indian have availed a health insurance policy from private insurance providers.
The statistics showcase that the main reason for the poor acceptance of health insurance plans in India is that the young Indians are unaware of the importance and benefits of having a health insurance plan. Health insurance coverage for all Indians is a long way ahead. Let us understand the top reasons why young India is ignoring health insurance:
Thus, these are a few of the basic reasons why many young Indians ignore health insurance. However, it is time to make them understand the importance of having a health insurance plan. The following are the reasons that will help them understand why ignoring health insurance is not a good option.
Last but not the least, health insurance is the best tool to safeguard the health and finances of your family. So, plan early and take benefits of the plan in times of medical emergency.