Post COVID-19: Health insurance initiatives taken by insurance companies, regulator, and Government

Post COVID, there is an increase in overall awareness about the importance of health insurance. People who already have health insurance are reviewing it to either increase the cover or upgrade to a policy with additional features.

The second wave of COVID-19 caught many people off-guard, and many more people got affected compared to the first wave. Thousands died, and those who survived the virus were handed hospitalisation bills running into lakhs of rupees. Many exhausted their entire health insurance cover and had to pay out of their pocket. Those who did not have health insurance had to dip into their emergency fund, break their investments, or resort to taking loans to pay their hospital bills.  Today, people's perception of health insurance and how they view it has undergone a 360-degree change. This article will examine how people's health insurance needs are changing in the post-COVID era. 1) Increase in overall awareness about the importance of health insurance As the COVID-19 virus spread, th...

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