BQ Big Decisions: You Need Health Insurance. It’s Just A Question Of How Much
Health insurance should be non-negotiable, say financial advisers. Some even say you should buy it before making investments.
BloombergQuint’s Big Decisions podcast gets you the insights you need to make big money decisions with confidence.
Health insurance isn’t considered a must have for most families in India. That’s evident from the latest available data on insurance penetration.
In 2018, the penetration of non-life insurance in India stood at under 1%. This is essentially overall premium as a percentage of a country’s gross domestic product. What’s more, it includes motor insurance, which is compulsory.
Financial planners uniformly agree that health insurance is an essential purchase. The only questions then are how much cover is adequate and what factors to consider when choosing a policy.
On this BQ Big Decisions podcast, BloombergQuint spoke with Suresh Sadagopan, certified financial planner and founder Ladder7 Financial Advisories, about the dos and don’ts when buying a health policy. Gurdeep Singh Batra, head (retail underwriting) at Bajaj Allianz, too, joined the discussion to talk about the recently launched ‘Corona Kavach’ policy, an initiative driven by the Insurance Regulatory and Development Authority.
(Corrects an earlier version of the text that misstated the first name of Gurdeep Singh Batra)
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