Consumer’s outlook towards health insurance

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The health insurance industry in India is the fastest-growing segment in the insurance sector. This phenomenal growth may be attributed to the liberalization of the economy and growing awareness among the public regarding healthcare. India is experiencing higher growth in the private health insurance sector, with more private health insurers entering the market. The Indian health insurance industry has seen several changes in consumer behaviour and attitude towards insurance.

Health insurance is necessary for everyone, bearing in mind the rising medical costs and changes in lifestyle. Most people purchase health insurance as it reduces the risk of using all the savings during medical emergencies. Close to half of the respondents have purchased health insurance for themselves, followed by parents and grandparents.

Insights in the report cover behaviour of people across gender, age group and town-class.

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