The majority of Insured Indians Concerned About Health Cover Sufficiency, Says ‘Health Unlimited’ Report
Mumbai, May 17 – More than 80 percent of insured individuals in India are unsure whether their current health insurance policies are sufficient to cover growing medical expenses, according to a new survey by Future Generali India Insurance.
The ‘Health Unlimited’ survey revealed that two out of every three respondents feel inadequately covered when faced with actual hospitalisation bills, pointing to the widening gap between health insurance benefits and real-world medical costs.
Rising Medical Inflation Fueling Concerns
According to the survey, India recorded one of the highest medical inflation rates in Asia in 2021, nearly 14 percent higher than countries like China, Indonesia, and Vietnam. This sharp increase in healthcare costs has left many policyholders feeling vulnerable, even when insured.Anup Rau, Managing Director and CEO of Future Generali India Insurance Company Ltd, commented,
Recharge of Sum Insured Seen as Key
The findings also show that nine out of ten policyholders consider the recharge of the sum insured as an essential feature of any health insurance plan. This growing sentiment highlights the demand for more robust and flexible insurance solutions.Launch of ‘Health Unlimited’ Plan
To address this gap, Future Generali has introduced a new offering called ‘Health Unlimited’, which includes unlimited restoration of the sum insured starting from the second claim. This ensures policyholders remain financially protected even if their coverage gets exhausted during treatment.Rau added that the new plan aims to provide comprehensive financial security for customers facing increasing healthcare costs, ensuring they never have to worry about running out of coverage.
The survey sampled 800 insured individuals aged 25 and above, offering a significant snapshot of prevailing consumer sentiment around health insurance in India.