New Delhi
What’s the most important lesson we have all learnt in this COVID-19 pandemic?
Our health is wealth. The virus is unpredictable and it spreads just as fast. We can only protect ourselves so much with social distancing and wearing masks and so on. But how can we protect ourselves from the financial damage from hospitalization, if we fall sick? That’s where health insurance comes in.
Millennial’s now realize need for a comprehensive health cover
Pre-Covid
Guarding against diseases like corona virus was a major reason for buying cover.
Overall: 37%
Insurance owners: 32%
Intenders (who plan to buy): 41%
Post-Covid
It is important to have adequate cover via a comprehensive plan that covers new diseases.
Overall: 60%
Insurance owners: 55%
Intendeds (who plan to buy): 60%
Millennials particular about Covid coverage now
Pre-Covid
Checked if the policy pays for all treatments including diseases like coronavirus.
All: 50%
Owners: 49%
Intenders: 52%
Men: 46%
Women: 57%
Post-Covid
Made an enquiry about coronavirus coverage
All: 58%
Owners: 65%
Intenders: 60%
Men: 58%
Women: 69%
“We have seen a notable increase in queries coming from millennials across the country and they contributed significantly to the overall sales in the last few months. We have received around 500 Covid-19 related claims so far, which is 7-8% of overall claims, with claim size going as high as Rs 7.5 lakh,” said Agarwal.
You could be just fresh out of college or into your first job, or perhaps even in the second or third one.
