October 2020 – In the world of growing medical inflation, and the rising infectious diseases like Coronavirus (COVID-19), having a robust health insurance coverage has become a necessity more than ever for every individual and family to protect against the unforeseen medical expenses.Today, we can eat well and exercise, but there is always an element of chance of an unexpected injury, illness or infectious disease. Thus, it is important for all to gain a greater sense of control over their physical and financial health.
Several studies reveal that in India personal saving is the source of health care financing, with over 62% of healthcare expenditure being out of pocket. Also, due to rising medical costs around 5% of the population are forced below the poverty line every year according to PWC Analysis. Therefore, in the era of rising medical cost and a greater propensity of falling prey to medical ailments or viral infections, the need to take health insurance cover has, lately, become more important than ever before. Moreover, with joint families giving way to nuclear families, we are basically on our own to face the uncertainty of life.Even for simple diseases, hospitalization is inevitable.This is where health insurance cover plays a vital role, it can take care of increasing medical expenses and protect the wealth of individuals.
In addition, one should also be cognizant that in old age, income declines and the probability of medical contingencies becomes high. Thus, if one has a comprehensive health insurance plan, any medical contingency would be covered, thereby, sparing savings and investment. If every family has an adequate health cover, it will protect their personal savings from being drained out in case of a medical emergency.
Speaking on the importance of health insurance, Prasun Sikdar, Managing Director and CEO, ManipalCigna Health Insurance Company Limited, said, “Lifestyle diseases such as diabetes, cardiac problems, blood pressure, thyroid, and cancer are on the rise in India.But lifestyle diseases weren’t the only ones, given the gravity of the current pandemic situation the number of people suffering from infectious diseases and other communicable and non-communicable diseases have also increased with seniors falling ill more oftenthan young adults. Moreover, various studies indicate that at least one member in every household will need some kind of long-term medical assistance. A considerable number of people have the means to pay expenses out of their savings, but for many others, a long-term stay in a healthcare facility due to some illness or other debilitating condition can derail their lifestyle or long-term goals. Therefore,individual and families should have some kind of adequate health insuranceto maintain their lifestyle. Also,in the backdrop of surging new COVID-19 positive cases, Health KeSaath, Health Insurance Zaroori Hai’ is a message that resonates with people, more than ever before, to safeguard their long-term financial goals, enjoy lifetime access to quality healthcare, and live a healthier life.
In recent times, both the national and state-level government bodies are making targeted efforts to improve the healthcare scenario in the country. Also the Insurance Regulatory and Development Authority of India (IRDAI) in its continuous efforts to make health insurance products more customer-centric, has recently rolled out affordable standardized health insurance products like ArogyaSanjeevani, Corona Kavach and Corona Rakshak health insurance plansin the interests of the citizens during these challenging times. People can now easily purchase the affordableArogyaSajeevani and the Corona specific policies, which will deliver the financial security they need to access the best quality healthcare for themselves and their loved ones.
Thus, under the purview of the growing COVID-19 outbreak, we have to understand the fact that a comprehensive health insurance cover is as essential as Roti, KapdaaurMakaan. Moreover, today, we can eat well and exercise, but there is always an element of an unexpected injury, illness or infectious disease. Therefore, to provide that added financial cushion in times of unforeseen medical requirements Health Insurance Zaroori Hai.
For detailed information and terms & conditions, kindly read product brochure and policy wording here, www.manipalcigna.com