Health Insurance

Health Insurance in India

Health insurance as the name suggests is the need of the hour to have a healthy life and family. With the growing cost of medical treatment and hospital charges it is very important that you and your family is covered under a suitable health insurance policy. There are a number of health insurance companies that offer different types of health insurance plans and policies. Before buying a medical insurance policy you should carefully read through the policy details and select the one that best suits your needs.

Do We Really Need Health/Medical insurance?

Health Insurance: In a growing country like India with all the inflation and the foreign investment, the costs of medical services are ever increasing. Compared to what is prevalent US or European market the medical cost are still little and hence that is attracting a lot of patients from outside. This further is pushing the medical costs, although the services still are not sufficiently satisfactory mostly due to technological embargo and population pressure. This is further driving the up the medical costs. Read about insurance companies in india

Insurance although, in India is not new but the concept of insurance has changed entirely with the insurance sector opening up to FDI. Apart from just LIC, India has some major foreign insurance giants in partnership to India ventures like AXA, ALLIANZ, AIG, NEWYORK LIFE, PRUDENTIAL, METLIFE, ING, LOMBARD. The list is every increasing with some major Indian players also coming in like SBI and SAHARA.

Insurance as sector is there to stay and make a big impact. However, it being early days for health insurance, the market is not very well organised. Currently insurance companies are not very watchful of what are actual requirements of Indian health insurance market. These health insurance companies are mostly trying to build a corpus and then standardize there product. Some companies are offering health insurance in alliance with Hospitals like Apollo Munich other go alone like LIC (Jeevan Arogya ) , MAX BUPA, Bharti AXA. The insurance offered can be both cashless or cash insurance.

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