85% people believe they should get health insurance before the age of 30: Massive demand for Health Insurance fueled by an increase in Lifestyle Diseases & Growing Healthcare cost: GOQii IndiFit Report 2019
The sedentary lifestyle which many of us lead has facilitated the growth of many lifestyle diseases. A new ailment turns up time to time and this is way past the phase of surprise. Trust in the healthcare system has further depleted with 96.5% of people not trusting the system as the number of zeroes on bills keep increasing and thus the need for health insurance is higher than ever.
According to the 5th edition of the GOQii India Fit Report 2019 titled that released yesterday, “There is a massive demand for Health Insurance fueled by an increase in Lifestyle Diseases & Growing Healthcare cost” The survey that was conducted among 700,000 respondents across the country indicates that 85% respondent believe they should get health insurance before the age of 30.
The report, however, indicates despite the increasing awareness about the importance and need for an insurance policy, 20% of the respondents still don’t own insurance policy. The common notion that continues to prevail is that insurance is confusing to understand, a prime reason that discourages people from buying one. The high cost of insurance also deters them.
Insurance premiums are on a constant rise, it is getting more expensive year after year and procuring ideal health insurance for you and your family has become shockingly confusing. What exactly is “Ideal” when we talk about Health Insurance?
Respondents at large felt that ideal health insurance should cover medical check-ups, cost of medicines, Ambulance charges, Dental treatment, Follow-up charges post-surgery and preventive medicines. The other benefits they looked for also included Accidental coverage, Good Afterlife benefits, Benefits for nominees, complete coverage / Maximum cover, Easy claim settlement, Sum assured benefits and term insurance benefits. Respondents strongly believed cashless hospitalization (87.9%) is the most sought-after health insurance benefit followed by medical bills reimbursement facility (67.7%) and better treatment in best hospitals (59.0%).
When we asked the respondents about what a trustworthy insurance plan would be? This is what he had to say, “A trustworthy insurance plan should have a low premium, high returns, wide range of ailments that will be covered under insurance and no deductions based on the condition of a person while he/she buys the insurance”.
According to the India FiT report 2019, 90% of people believe healthier people should pay lesser premiums on their insurance policies. 70% are willing to share health data with insurance companies to get a discount on premiums.
Download the full report here: www.Indiafit.org
