Why health insurance is must in India?

[NewsDesk]

Currently health insurance penetration in India - only 15 per cent population.

As per NSSO data, nearly 65 per cent of India's poor get into debt and 1 per cent fall into BPL each year because of health issues. It is also estimated that by 2025, 189 million Indians will be at least 60 years of age.


Source - economictimes.com

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[Vivek]

1- Total Expenditure on health in India is nearly 6% of the entire GDP
2- Government spending is less than 25% against the average spending of 30-40 % in other developing countries.
3- Indian health insurance industry stands at INR 5,125 crores with only a small Section of the total population (around 2%) being covered so far.
4- CAGR of around 35 % (FY2002-08)
5- Health Insurance industry in India is one of the fastest growing segments.

[Vivek]

Old data of year 2008 -

[Vivek]

Who is paying how much?

[koolz]

[koolz]

[koolz]

[idealhealth]

With the increasing healthcare costs and also with the changing lifestyle of everyone, risk on your health has increased many folds. Health Insurance has become a birth right for everyone in India.