Health Insurance is the Fastest Growing Segment in India

Fastest Growing Segment Health Insurance

Health insurance is a need and a requirement that is necessary for each and every individual in the world.

Financial security in case of medical emergencies is what is required for many in the world which can be provided by health insurance only. In India, health insurance as of today has become a compulsion for each and every individual.

Indian companies now are required to provide either medical insurance or health insurance to their employees and their immediate family as well as part of their company policy. This is to ensure the safety of not only the worker but his/her family as well.

Why is Health Insurance Important?

Before, when health insurance was known to people as only a luxury that some could afford and keep throughout their lifetime, the benefits and the features of a health insurance policy was not known to them. A health insurance plan is a plan that is solely meant to benefit those who are insured under the plan in a number of ways. Some of the reasons why everyone should buy a health insurance plan include:

  • A health insurance plan is a financial help for all your medical expenses when you are insured under a plan. Medical fees and treatment cost a lot of money that takes a toll on the bank account of an individual. In order to prevent this and to make sure that the insured gets the proper treatment and doesn’t have to worry about the expenses, the health insurance plan takes care of everything.
  • A health insurance plan can be renewed throughout the lifetime of a person even after the policy term has expired. This can be achieved easily by filling in the premium of the policy regularly in order to keep it active.
  • A health insurance plan ensures on a regular basis that the health of a person is the best. There are policies that also take care of the health of the insured’s family as well. Today, there are health care plans that cost less and have a great number of inclusions to them, so that are easily affordable.
  • Medical help and advice for anyone who is insured are available on a 24*7 basis. The claims process for a health insurance policy is also incredibly fast and help is always available during each step.
  • Under Section 80D of the Income Tax Act, tax is also exempted to some amount for those who are covered under a health insurance plan.

How Health Insurance is Growing in India

In recent years, it has been observed that the rate at which health insurance is being bought in India is growing rapidly. Awareness about health insurance, more affordable insurance plans, an increase in the wages of workers overall, a rise in the economy are all factors that have contributed to this growth.

The health industry that primarily consists of doctors, medicines, and hospitals is a huge industry not only in India but in the world. The industry is costly and though there are free services that are provided for everyone, not everyone can afford the advanced treatment.

In order to make sure that money never becomes the prime reason for a person not getting treated, the government has introduced affordable health insurance for everyone.

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Any individual who is wishing to get health care has a wide choice on the type of plan that they wish to buy. There are different health insurance plans that are offered by companies ad each one of them differs from the other in features, inclusions, and exclusions as well. The more the features and inclusions that a health insurance plan has, the more will be premium for the plan on an annual basis.

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Bajaj Health Insurance

One of the most renowned names in terms of providing different types of insurance plans and stability in the lives of many Indians is the Bajaj Group of insurance plans. In terms of the best health care and medical assistance that anyone can possibly ask for, Bajaj Health Insurance is the perfect choice for a health insurance plan. The company is associated with 5000+ hospitals across the country that make it easier for customers to avail of services.

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The claims percentage for Bajaj is incredibly high and the affordable plans for health insurance make it easy for everyone to get a health insurance plan quickly.

Health insurance policies can be bought not only for individuals but also for their families, senior citizens, and anyone in general. According to section 80D of the Income Tax Act, anyone who avails of a Bajaj health insurance policy is exempted from paying a certain amount of tax to the Government of India.

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