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Indian Millennials wake up to smell the benefits of Health Insurance

Kavach is meant for both an individual and a family so that nobody is left alone without help in this hour of need

Published: Oct 29, 2020 01:58:03 PM IST

Indian Millennials wake up to smell the benefits of Health Insurance
The millennial population in India is waking up to the benefits of timely investment in health insurance and the force driving this realization one of the leading market players, Max Bupa Health Insurance. The company carried out a survey recently, which reported that there is a 7-fold increase in the number of people interested in buying health insurance cover, especially against new-age diseases. The survey suggests the COVID-19 pandemic is responsible for this increase in awareness. Individuals, especially those in their early 20s and 30s are seriously considering the possibility of investing in a health insurance plan, either for themselves or for their near & dear ones, in the near future.

Owing to an unforeseen situation like the ongoing Coronavirus crisis, more than 71% of Indians are now interested in buying health insurance cover. Compare this to the measly 10% during pre-COVID times and the picture suddenly becomes clearer to us.

COVID-19 & Health Crisis

There is no denying the fact that health insurance is now more of a priority for Indian families than ever before. The pandemic has made people aware of the need for health insurance and people are not shying away from prioritizing their health and that of their family members. Now one may not be able to do much about the current health crisis, but one can surely learn a lesson or two from it and be better prepared in the future. With hospitalization the only resort for Covid-19 patients, the possibility of more than one family member being hospitalized at the same time is higher than usual. The average stay in the hospital, for a COVID-19 patient is anywhere between 5-10 days, depending upon the condition. Moreover, moving the patient to the Intensive Care Unit has its own additional expenditures besides the physical and emotional trauma caused to the patient. Multiply that with the number of patients from a single-family and you realize the disease is going to be much more exhausting than you initially imagined.

Max Bupa’s Corona Kavach

True to its name, this new health insurance plan from the company with years of experience in this sector will be your knight in the shining armor against the Coronavirus and related treatment expenses. The plan provides you a safety net against the current pandemic. You can be sure to save your hard-earned income and your life’s savings if you invest in the Corona Kavach (literally means an armor) family floater plan. The plan provides insurance coverage between Rs 50,000 and Rs 5,00,000. The flexible tenure of this plan means you can include it in your preparation for life under a pandemic. Apart from the flexible tenures of 3.5, 6.5, and 9.5 months, the plan also includes Co-morbidities cover arising out of COVID-19; Home-care treatment of the value of the Sum Insured; and Family Combination Applicable up to 2 adults & four children.

The Kavach is meant for both an individual and a family so that nobody is left alone without help in this hour of need. Since hospital treatment is the only solution for a COVID-positive patient, showing severe symptoms, investing in a smart health insurance plan like this is your best defense against the pandemic.

Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.

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