Health insurance with Rs 1 crore cover sees 35% growth amid Covid-19 fear
Data available from Policybazaar shows the penetration of such policies has grown from 2 per cent to 35 per cent between 2019 and now
According to Policybazaar, policies by Max Bupa, Care Health Insurance and Aditya Birla Capital have received good traction
Covid-induced awareness around health insurance has led to an increase in sales of high-value policies which offer coverage up to Rs 1 crore. Data available from Policybazaar shows the penetration of such policies has grown from 2 per cent to 35 per cent between 2019 and now.
"Towards the end of 2019 the penetration of high sum insured policies (Rs 1 crore cover) was at 2 per cent which has now grown to 35 per cent at present, clearly showing how awareness around high sum insured covers has picked up," says Amit Chhabra, head of health insurance at Policybazaar.