Health Insurance Gaps: Are You 1 Claim Away From Ruin?

Most Indians either have no health cover or are underinsured. Here is what to check in your current policy, what good coverage looks like, and how to avoid getting caught short when a medical bill arrives.

Here's what happened: India's private health insurance sector is expanding its retail focus, meaning more individual and family plans — not just group corporate policies — are being offered.. Insurers are increasingly using global actuarial and pricing expertise to design products better suited to Indian disease patterns like diabetes and heart disease.. The retail health insurance market remains underpenetrated — crores of salaried Indians rely solely on their employer's group cover, which lapses the moment they leave the job..

What you should do: Check if your only health cover is employer-provided group insurance — if yes, buy a personal retail policy immediately so you are not uninsured between jobs.. Compare sum insured amounts: a ₹3 lakh cover was adequate in 2015 but hospital inflation means you need at least ₹10–15 lakh for a family today.. Look for policies with no room-rent capping, no co-payment clause, and a wide network of cashless hospitals in your city before you renew or switch..

Buy a retail health policy before age 35 — premiums are 40–60% cheaper and pre-existing disease waiting periods start running earlier, so you benefit sooner.

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