Suppose you are in the market for a health insurance policy. Do you know how much time you need to read through at least 60 policy documents? Assuming it takes an hour to read one brochure, it will take you 60 hours or little over a week to go through all the plans if you pore over them for 8 hours a day. This means you need time off from work to browse plans for a week. Other option is to simply buy what the agent sells and sign on the dotted line and bring home the satisfaction of being insured. Mint recommends neither. It’s not possible to sift through so many plans and buy a financial product without understanding it fully never ends well.
At Mint, we realise the obvious information gap in the market with product information overload. To fill this gap, we began decoding health policies in 2013 with our knowledge partner SecureNow Insurance Broker Pvt. Ltd. Four years later, in its 5th wave of the exercise, we are happy to report that not only is this exercise helping you, it is also putting pressure on the industry and the regulator to take disclosures more seriously.
