Health and term insurance price index rose marginally in Q2CY21: PolicyX

Insurance sector as a whole is seeing elevated stress levels following a spike in Covid-related claims that many companies had not factored in

The second quarter of the calendar year 2021 saw a spike in health and term insurance prices. According to PolicyX.com, a leading insurance web aggregator, the health insurance price index has risen by 4.87 per cent while the term insurance index has gone up by 2.79 per cent. 

The index value for health policies rose to Rs 25,197 in Q2CY21, whereas in Q1CY21, the prices remained constant at Rs 24,026. The jump has been attributed to the adverse impact of Covid-19. Similarly, the index value for term insurance policies rose to Rs 22,524 in Q2 of calendar year 2021 from