Impact of COVID-19: Medical Insurance is A New Normal

HEALTH INSURANCE



The COVID-19 pandemic is challenging in various aspects, but at the same time, it gives people a reason to take their health seriously. India is amongst the top worst-hit countries by a coronavirus. However, the demand for health insurance has increased considerably. People are now getting concerned about the repercussion of the pandemic on their health and wallets. They are making adjustments to their spending on healthcare as a result of COVID-19. Health insurance works as a financial cushion during a medical emergency. Therefore, due to the impact of coronavirus, medical insurance has become a new normal. Let's understand behind the scene reasons why people prefer to invest in different health insurance plans more now:

Increasing Awareness

Post-COVID millennials are getting more aware about their health concerns. They realize that pandemic, increased pollution, sedentary lifestyle, bad eating habits, etc. can give a jerk to their health anytime. That's why they deprioritize their purchases on their high-end lifestyle and like to invest in health insurance to protect themselves and their families.

COVID Coverage

Health insurance gives coverage against COVID-19 as well. Hospitalization, treatment, and medication expenses for corona infected covered under the policy. People are aware that one-time admission in the hospital due to coronavirus can derail their health and finances. So, they analyze the importance of health insurance, and for most of them, it becomes the priority. 

>>Click Here to Read How to Buy Health Insurance Online When You Are Corona Lockdown

Additional Benefits

Adequate medical insurance not only gives coverage against hospitalization expenses for coronavirus but also offers additional benefits like no-claim bonus, the double sum insured, international second opinion, reduction in PED (pre-existing disease) wait period, and more. Moreover, it covers several chronic and critical illnesses, such as diabetes, hypertension, cancer, kidney failure, stroke, etc. The extensive coverage makes it a beneficial source of investment.

>>Click Here to Read How to Boost your Health Insurance Coverage with Add-on Covers

Women are Keener

Another trend that noticed post-COVID is women are keener to buy health insurance plans. Guarding against critical and chronic diseases along with the coverage for corona treatment are the reasons women tend to invest in medical policy than other purchasing. They like to secure themselves and their families and want to have an umbrella of protection in this tough time. 

Rising Inflation

Medical advancement is one of the reasons for increasing medical inflation pre-COVID. However, after the corona outbreak, the scarcity of medical supplies and high demand has also increased the medical inflation rate. Hospitalization, medicines, and treatment costs touch the sky and get out of reach for the common mass. Therefore, to combat the ill-effects of inflation, a medical policy is a wise choice.

>>Also Read Why Your Corporate Policy is Not Enough During Medical Inflation

Conclusion

Thus, post coronavirus, millennials realized the value of comprehensive health insurance plans. With the growing incidence, they now tend to invest more in medical policy than on their lifestyle. They are worried about their treatment costs and apprehend the importance of being insured early. If you are also looking for adequate health policy for yourself and your family, opt for Care Health Policy. It is a hand-picked medical insurance policy offered by Care Health Insurance (Formerly Religare Health Insurance) that not only gives you coverage for coronavirus (subject to policy terms & conditions) but also covers chronic and critical illnesses. It is the best health insurance plan that suits to every pocket and provides broader coverage with numerous benefits.

So, buy it now and bid farewell to all your myriad health issues post-COVID 19.