Those who already have a personal cover need not go for a high-value cover
Owing to the pandemic, there is a newfound urgency among buyers to purchase adequate health insurance. Not only are financial advisors recommending higher covers, buyers themselves are prepared to go beyond the Rs 5 lakh cover that was the norm earlier.
High sum insured plans range from Rs 25 lakh and Rs 1 crore. Over the past two months, web aggregator Policybazaar saw 35 per cent of first-time buyers go for high sum insured policies, compared to less than 2 per cent a year earlier.
The pandemic has clearly led to a drastic change in attitudes. Amjad Khan, director and business head of employee benefits practice at Anand Rathi Insurance Broking, says: “Those in the age group of 35-45, who
First Published: Dec 16 2020 | 06:07 AM IST