In India, the need to take a health insurance policy to protect individuals and their family, against unforeseen health-related expenses is ever-increasing. The advantages of having a health insurance cover are many. Most importantly it provides peace of mind by safeguarding you against any out-of-pocket expenses. Insurance companies have customized policies to suit your needs. Individual and family floater options, cashless facilities, day care expenses, cover for pre-existing diseases like diabetes, etc. are available. Health insurance policies are on a 1 year renewable basis and most companies now offer a 2 year cover. The policy amount varies depending on the age and health of the individual.
The 2009-10 report submitted by Third party administrators (TPA) to IRDA gives a report on the number of claims raised, the amount paid and the top 15 diseases that the claims were raised for. Close to 12 lakh claims raised by policyholders are unspecified. Infectious disease is next in line with over 3 lakh claims. Diseases related to digestive system, urology, eyes, circulatory system, injuries, respiratory system, pregnancy, etc. follow suit respectively.
| Diseases | Number of Claims |
| Unspecified | 12,38,891 |
| Infectious | 3,18,989 |
| Digestive | 2,43,848 |
| Urology | 2,20,246 |
| Eye | 1,94,376 |
| Circulatory | 1,70,619 |
| Injury | 1,54,420 |
| Respiratory | 1,51,744 |
| Pregnancy | 1,49,653 |
| Clinical Findings | 1,21,904 |
| Neoplasm | 1,02,122 |
| Arthropathies | 75,534 |
| Endocrine | 34,675 |
| Skin | 34,165 |
| Nervous | 31,086 |
| Total | 32,42,272 |
Total premium collected by health insurers in 2009-10 is Rs.7803 Crores. Against this, the companies ended up paying a whopping Rs.7456 Crores in claims. This reinstates the fact that health insurance is a product that one simply cannot do away with.
