Indians are underinsured
ACKO Health Insurance Index reports that 68% of Indians have health cover under Rs. 10 Lakh
- 100% bill payment is one of the most important features that both policyholders and potential buyers wish to have in their health insurance policy
- 60% of the respondents claim that are aware of the terms and conditions stated in their health policy
- However, 68% have health covers under Rs. 10 lakh at a time when medical costs in India are at an all time high
Chennai: The COVID-19 pandemic has ignited an awakening to health and its paramount importance. This crisis served as a catalyst, magnifying awareness about health and driving a surge in the recognition of the vital role of health insurance. But would you believe that most individuals are not adequately covered for health-related emergencies. ACKO, India’s tech-first insurance company, reveals surprising data in its new report, ‘The ACKO Health Insurance Index’.
The report surveyed 1000 respondents across six metros Indian cities between the ages of 28 and 55 and identified that 60% of the respondents feel they understand the terms and conditions of their health insurance policy. However, the assessment of policyholders’ comprehension of terms and conditions highlighted limited awareness of only three crucial features – cashless treatment (53%), accident covers (50%), and 100 percent bill payment (45%).
