Health Insurance in India is one of the many ignored necessities. IRDA's estimate suggests that only 21.62 crore people, i.e. 17% of India's population, were covered by health insurance at the end of March 2014. This number is very depressing because, in a country where diseases are in a rapid rise, only 17% of the population is insured. What could possibly be the reason?
Awareness! There is a lack of awareness about health insurance in India and most people consider Health Insurance as an added financial burden on their scarce livelihood. However, what people fail to understand is that this little investment can save people from a major financial crisis in future. The Hindu states that "Families meet almost 70% of their health expenses out of their own pockets, placing a considerable financial burden on poor households, often pushing them deeper into poverty."
The prime motives behind health insurance are protection against health crisis and savings. A well-informed buyer can save on his health insurance policy. Here are some tips you need to know:
