Health insurance is an important topic help people avoid the cost of medical expenses incurred by the individual. While most companies provide employees and their families health insurance for free or at a much lower than actual cost, many small business do not provide this benefit. Unemployed people are also not have any kind of insurance support.
Health insurance plans vary widely around the world. In India it is a relatively new concept and product; yet, it is a very high growth industry. Between 2002 and 2008, the industry saw a compounded growth of 37%. At the same time, only 2 % of India's residents have health insurance policies. This makes the sector of the insurance industry the fastest growth produces in the country. Projections for 2015 predict a 42.3% compounded growth during that timeframe. The Indian government has encouraged insurance providers to come into their market. The government has DE tariffed the insurance industry that has resulted in allowing insurance companies to focus more on health related products.
Indians are experiencing a significant rise in health care costs and thus are more interested in the benefits of health insurance. In fact, consumption of health care is expected to triple by 2025. Another variable that is helpful for the industry is the fact that the middle class (there called the Seekers and Strivers) is quickly growing. Therefore, not only is the cost of health care rising, thus creating the need for people who can capable to afford health insurance as well.
Additional factors are positively influencing the health plan market in India. The country is experiencing high population growth, especially in the 15-64 age range. Indians are becoming more literate. Almost seventy-five percent of today's youth are literate and that number is constantly increasing. The number of people inflicted with major illnesses such as diabetes, coronary heart disease, obesity, cancer and asthma are steadily increasing.
While there are many Indian companies selling insurance in the country, there are also a fair number of international health insurance providers that have entered the Indian market. One example is MetLife India Insurance Company Limited operated in the country since 2001. Its main offices are in Gurgaon and Bangalore. MetLife's growth within India has been exceedingly significant and it is currently working to establish a partnership with PUNJAB National Bank.
Overall Health Insurance India is seen as a large up-and-coming market for this industry. It is believed that in the long run it will actually positively influence on the quality of India’s pharmaceutical industry as well as the country's health care infrastructure and services.
You can get more information here - http://goarticles.com/article/Health-Insurance-Up-and-Coming-Market-in-India/6486477/
Health insurance plans vary widely around the world. In India it is a relatively new concept and product; yet, it is a very high growth industry. Between 2002 and 2008, the industry saw a compounded growth of 37%. At the same time, only 2 % of India's residents have health insurance policies. This makes the sector of the insurance industry the fastest growth produces in the country. Projections for 2015 predict a 42.3% compounded growth during that timeframe. The Indian government has encouraged insurance providers to come into their market. The government has DE tariffed the insurance industry that has resulted in allowing insurance companies to focus more on health related products.
Indians are experiencing a significant rise in health care costs and thus are more interested in the benefits of health insurance. In fact, consumption of health care is expected to triple by 2025. Another variable that is helpful for the industry is the fact that the middle class (there called the Seekers and Strivers) is quickly growing. Therefore, not only is the cost of health care rising, thus creating the need for people who can capable to afford health insurance as well.
Additional factors are positively influencing the health plan market in India. The country is experiencing high population growth, especially in the 15-64 age range. Indians are becoming more literate. Almost seventy-five percent of today's youth are literate and that number is constantly increasing. The number of people inflicted with major illnesses such as diabetes, coronary heart disease, obesity, cancer and asthma are steadily increasing.
While there are many Indian companies selling insurance in the country, there are also a fair number of international health insurance providers that have entered the Indian market. One example is MetLife India Insurance Company Limited operated in the country since 2001. Its main offices are in Gurgaon and Bangalore. MetLife's growth within India has been exceedingly significant and it is currently working to establish a partnership with PUNJAB National Bank.
Overall Health Insurance India is seen as a large up-and-coming market for this industry. It is believed that in the long run it will actually positively influence on the quality of India’s pharmaceutical industry as well as the country's health care infrastructure and services.
You can get more information here - http://goarticles.com/article/Health-Insurance-Up-and-Coming-Market-in-India/6486477/
As we all know that the health insurance is one of the best service for people. It helps to reduce medical cost. In India around past ten years insurance industries will grow up so faster and government also encourage them for this service.
ReplyDeleteJonathan
The importance of having health insurance cover cannot be stressed enough. You may resent having to pay a monthly premium but at least you know that if there is ever a time when you or a family member needs treatment, cost will not be an issue.
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Chris from buyincomeprotection.co.za
According to the study, health insuranceportability is also gaining popularity in India as it allows health insurance policyholders to switch companies while retaining their no-claims benefit. The report also provides an overview of the rural health insurance segment, and expects that the number of uninsured rural households will decrease with time. Various Insurance Regulatory and Development Authority (IRDA) acts and amendments have also been studied to understand the regulatory framework for the industry.
ReplyDeleteFamily health insurance provides multiple benefits to family. It is a reasonably priced option when purchased for the whole family and you will also be clever to personalize it according to the wants of the person family member.
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