A recent report from Turtlemint has revealed the fact that the premium per policy in Tier 2 and Tier 3 cities has witnessed a 73% increase since the year 2020. This is indicative of the fact that today consumers are willing to invest in more extensive health coverage.
Some Vital Facts and Figures
Immense expansion - that is precisely what the Indian health insurance sector is experiencing. This expansion has been triggered by healthcare expenses that are constantly escalating and also with consumers growing conscious particularly after the outbreak of COVID. According to the GlobalData analysis, the health insurance market is expected to surpass USD 23.8 billion that is Rs 2.0 lakh crore by the time it is 2028 with the annual medical inflation rate standing at 14%.
A report from Turtlemint reveals a “240% growth in the total sum assured over the past 5 years”. This kind of growth is suggestive of the fact that today consumers are shifting their focus to more comprehensive medical insurance plans.
The Role of The Health Insurance Advisor in Kolkata
Health insurance happens to be a very important financial safeguard as it provides the necessary coverage against the medical expenses that tend to come across your life at unexpected moments. The Health Insurance Advisor in Kolkata can help you out with the selection of the right plan that satisfactorily meets your healthcare needs.
The Ever Evolving Landscape of Health Insurance
The cost of health insurance has witnessed a surge in recent times and this has posed quite a bit of a challenge for people who are seeking appropriate healthcare protection.
The healthcare landscape is evolving at a very rapid pace and one of the significant changes happens to be the increasing cost of the health insurance premiums. This kind of spike has far reaching consequences particularly in the smaller cities.
Understanding The Reasons Behind The Sharp Hike in The Health Insurance Premiums
So what exactly has led to this type of sharp hike?
Well, increased hospitalisation charges, the medical inflation which is going on rising, and also the increasing demand for comprehensive medical coverage are the primary reasons behind this hike. In such a situation it would be a wise choice to consult the Health Insurance Advisor in Kolkata for best results.
The health insurance premiums are increasing and medical inflation which as mentioned above happens to be a driving factor. Medical treatments and the hospital costs and also the costs of prescription medications are increasing. In such a scenario, insurance providers have been put under stressful conditions and they need to adjust their pricing so as to sustain their very business models.
The Health Insurance Advisor Near You could be your perfect partner when it comes to securing the perfect Health Insurance Plan so that you can manage your medical expenses in the most efficient manner.
Major improvements in the healthcare infrastructure in the smaller cities with hospitals getting equipped with advanced medical facilities. Besides providing accessibility to better healthcare resources, it has also led to an increase in the costs of treatment procedures which in turn is directly impacting the health insurance premiums.
Today people are extremely conscious about the Importance of Health Insurance. In the smaller cities, people are going ahead for health insurance policies that cover critical illnesses, maternity care and so on. When there is demand for extensive coverage then it automatically leads to the possibilities of higher health insurance premiums.
The Valuable Assistance of The Health Insurance Advisor Near You
The Health Insurance Advisor in Kolkata can guide you along the right track and help you out in choosing the right health insurance policies that provide excellent benefits. More than two-third of the policy holders have experienced an increase in the insurance premiums by 50% to 200% in the last 3 years - a survey report reveals this fact.
The extremely efficient team of professionals at Call Andii can actually prove to be your perfect partner when it comes to prioritising your needs as well as wants and after considering the risk profiles we help you plan your long or short-term financial goals in the most appropriate way.
Final Note
Thus it can be said that the assistance of the best Health Insurance Advisor is something which is absolutely necessary to navigate the constantly evolving landscape of health insurance. Call Andii is here to help you out in this journey where getting insured against the unexpected expenses of health is actually extremely important.