Top 10 Health Insurance Updates by IRDAI in 2020

The growing number of lifestyle diseases, double-digit medical inflation, rising healthcare costs and increasing uncertainties are slowly but surely making Indians realize the immense value of a health insurance policy. Undoubtedly, the mindset is changing. However, as the spotlight intensifies, is it appropriate to claim that our health insurance sector and policies are flawless with no room for improvement?

Most experts would say “No, it is not.”

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Indian Insurance Sector 2020: Existing Trends & Expected Changes

The Insurance sector plays a crucial role in the growth and general well-being of the Indian economy. It considerably increases saving opportunities for individuals and helps in safeguarding their future by providing much-need protective covers. Availability of a massive pool of funds allows the sector to contribute substantially to the capital markets and invest in large-scale infrastructure development.

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Things To Know Before Securing a Health Insurance Plan

Are You Finalising a Health Insurance Plan? Do you know that over 5 crore Indians move below the poverty line every year due to insufficient financial medicare protection and only 5% claim to have suitable health covers per their age, family status and location? Are you aware that corporate or group insurance plans are usually in the single-digit lakhs and they are often not enough for your family of four?

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