Diseases affect everyone, irrespective of what class one belongs to, and medical costs are getting more costly by the day. Yet, Indians are hesitant to opt for health insurance. This lack of health insurance penetration is subject to various crucial factors that have been addressed in the following lines.
The objective of this article is to highlight these factors so that you can learn how beneficial a health insurance plan can be for your family- both financially and in terms of healthcare.
10 Factors that are Making Indians Skip Health Insurance
The factors that keep Indians uninsured are mostly rooted in various health insurance myths, which will be debunked below.
1.Health Insurance is Supposedly Costly
A strong reason for Indians to avoid health insurance is their perception that such plans are high-priced and unaffordable. Despite the fact that healthcare is so expensive, individuals believe that insurance premiums are costly, which keeps them from exploring options in health plans that can ensure financial security through unexpected medical situations.
The Fact is: While investing in health insurance is an extra expense, it's still comparatively less expensive than paying for emergency medical expenses out of pocket.
Today, you can find many online health insurance plans with affordable premiums. This is especially true if you're in your 20s since insurers tend to charge younger candidates lower premiums as they have a lower risk profile.
At Reliance General Insurance, you can get several discounts when buying health insurance plans online from our website, along with many other value-added services like online buying, renewal and claims processes.
2. Insurance Companies are Not to be Trusted
Another reason why people don't buy health insurance is because of their lack of faith in insurers. A widespread lack of faith in insurance companies, the complexity of the procedure for purchasing health plans, the complicated claim process and the fear of hidden terms and conditions contribute to individuals choosing to remain uninsured.
The Fact is: While the traditional method of policy purchase remains tedious, online availability of health plans has enabled more transparency and convenience in policy purchase.
Reliance General Insurance Health Insurance Plans offer you the benefit of online policy purchase in minutes with full transparency regarding the terms and conditions for each health policy.
3.Health Insurance Awareness is Absent
Individuals, especially those living in the rural parts of the country, are unaware of the benefits that health policies offer. As a result, they remain ignorant about the significance of protecting themselves financially from healthcare costs and how health insurance policies can play a major role in providing this protection.
The Fact is: Multiple insurance schemes initiated by the government have drawn the attention of Indians (even in rural areas), making them more aware of the need for health plans.
Moreover, our online health plans are designed to simplify the process of obtaining health insurance at reasonable prices so that you can remain financially safe despite staggering medical expenses.
4. Culture Cripples Faith in Health Insurance
The cultural beliefs and traditions prevalent in society play a significant role in the low adoption of health plans in India. The need for health plans is nullified as whenever there is a need for financial help during medical emergencies, it is traditionally accepted that community and family members will step up with monetary assistance.
The Fact is: While this traditional system holds value, there are possibilities of limitations with today's high cost of healthcare and need for complex medical procedures. Moreover, the growth of nuclear families makes it risky to place trust in such cultural traditions, when it comes to healthcare.
5. The Coverage Extent is Limited
Certain insurers provide extremely limited coverage for their health policies, which can easily deter individuals from adopting health insurance.
Furthermore, some policies feature multiple waiting periods and exclusions. This can confuse individuals about what exactly they're covered for under their policy when they claim medical coverage.
The Fact is: This can largely be mitigated by choosing the right insurer and also by going for online insurers. By discussing your needs with your chosen provider you can easily be directed to a plan that directly addresses your unique needs.
Reliance General Insurance caters to the medical expenses of families, senior citizens, individuals and groups by providing comprehensive health insurance that can be customised according to your specific needs.
Also Read:
What is Comprehensive Health Insurance?
6. Claim Process is Complicated
This is one of the biggest deterrents to individuals not opting for health insurance plans. The lengthy and cumbersome process of raising and settling a claim is highly discouraging, especially if someone is going through the pressure of a medical emergency.
The Fact is: Going for online insurers that have a quick and simple claim settlement process can largely mitigate this issue. An online claims process involves much less paperwork and with the new IRDAI mandate, it's now possible to get cashless services at any hospital in India.
Reliance General Insurance offers cashless claims so individuals can focus on getting treatment instead of worrying about last-minute finances. Our
claim process is simple and fast, enabling you to receive immediate financial protection during medical emergencies.
7. Trust Issues With the Country's Healthcare System
Indians find it difficult to believe that the healthcare system works efficiently to provide quality healthcare. Concerns about the availability of doctors/specialists, healthcare service quality and healthcare in general are evident among many individuals. This level of scepticism disinclines people from buying health plans, making them skip health insurance.
The Fact is: Our intention is to lower this perceived notion of negativity surrounding health insurance in our country by providing curated health plans that meet your healthcare requirements within your budget.
8. No Customisation Option to Tailor Health Insurance Plans
Most standard health plans lack customisation options, which can cause individuals to skip health insurance.
The Fact is: Look to invest in flexible health plans that can meet your specific needs, whether in terms of medical treatments or overall coverage extent.
Our health plans are diverse and flexible, each catering to the policyholder's specific needs. For example, our
Personal Accident Insurance policy can offer coverage in case of accidents or permanent disability. Additionally, you can customise your health plan with several helpful add-ons and use our Super Top-up policy to help you in times of medical emergencies.
9. Healthcare Access is Limited
There is a common belief among Indians that access to healthcare in our country is highly limited. Moreover, this belief is further confirmed by the absence of quality medical facilities, clinics and hospitals. This absence of adequate infrastructure in healthcare dissuades individuals from opting for health plans.
The Fact is: With access to a proper network of quality healthcare facilities, it is possible to receive proper medical care when required. Reliance General Insurance gives you access to more than 10,000 network hospitals where you can get quality medical care.
10. Health Plans have Supposedly Low Value
Many assume that health insurance plans often don't provide enough value for the money paid for them. This can result in reduced faith in health policies as a whole, leading people to skip health insurance plans.
The Fact is: This is usually the case when people assume that all health insurance plans are made equal. However, this isn't true. There are different types of health insurance plans that address different needs.
For example, people who require long-term medical coverage would be better off buying
health insurance plans that come with the option of lifetime renewability rather than a short mediclaim policy.
Conclusion
With these ten major factors keeping Indians away from health insurance addressed, hopefully, you are now more informed about the advantages of adopting a health plan for you and your family.
Reliance General Insurance prioritises your health by offering economical health plans that give you access to quality healthcare services. With our
Global Health Insurance policy, you can get planned treatments abroad for illnesses that require specialised medical treatments.
Frequently Asked Questions
Why is health insurance necessary?
Health insurance is necessary for you and your family members because it acts as a financial shield against unexpected health-related issues that may result in expensive medical bills.
Is it possible to purchase a health plan for my aged parents, who suffer from pre-existing diseases?
Yes, Reliance General Insurance offers
senior citizen health insurance plans with a lifetime renewability option, which provides coverage for pre-existing diseases.
What factors should be considered while looking for a good health plan?
Factors that you should consider include premium rates, coverage extent, network of authorised hospitals, claim settlement process, waiting periods and add-on riders such as
pre-existing disease coverage, maternity coverage, etc.
At Reliance General Insurance, we ensure a transparent process for each health plan, protected payment methods, useful discounts and add-ons, zero paperwork and a 100% claim settlement ratio that has earned us over 3 crore customers.