Page 12 - Ebook health insurance IC27

The Insurance Times

 Healthcare is expensive. Technological advances, new procedures and more
effective medicines have driven up the cost of healthcare (Medical Inflation).

 The elaborate medical treatment expenses could eat into savings meant for the
future or even result in indebtedness.

 Health insurance is affordable and carries the assurance and freedom from insecurities
that threaten normalcy now and then

 The cashless system of providing hospitalisation has immense value since the
policyholders does not have to pay cash for his treatment. The insurance
company directly pays to the hospital. Even if he gets reimbursement from the
insurance company later it will be difficult for him to arrange finances.

Social benefit

 Every human being is exposed to various health hazards.
 Medical emergency can strike anyone without pre-warning.(terror attacks)
 Nuclear families lack financial and physical support structure
 Loss of quality of life, career options, Income
 Mental trauma and incapacitation
 Higher levels of "good health" consciousness
 Higher confidence in service delivery

Early development of the Indian insurance industry

The history of insurance in India could be traced to the country's deep-rooted history
where insurance finds mention in the writings of Manu (Manusmrithi), Yagnavalkya
(Dharmasastra) and Kautilya (Arthasastra).

The writings referto pooling of resources that could be re-distributed in times of calamities

1 6 Guide for Health Insurance