“Tax saved is income earned” – That’s the modern-day version of an age-old cliche-money saved is money earned. As we stepping into new fiscal year and striving through this lockdown, every financial decision should be taken with utmost care.
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?
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.
India receives 75% of its yearly rainfall from June to September, providing much-needed relief from the searing heat. The rainy season, cool breeze and cloudy skies are delightful experiences. However, the lack of protection or inadequate insurance cover can spoil your fun and also put a dent in your wallet.
A Health Insurance cover’s relevance in India is unquestionable. Our evolving lifestyles, unreasonable work schedules/eating habits, dangerously rising pollution levels, increasing healthcare costs make all of us prone to multiple health disorders and reiterate the necessity of a health insurance policy.
Driving on Indian roads brings a fair share of challenges, even for the most seasoned individuals behind the wheels. Road accidents, traffic violations, and inadequate infrastructural facilities are too common. More than 50 road accidents result in 17 deaths every hour.