The insurance market in India is controlled by companies operating in both the private plus public sectors. The insurance segment is going through numerous stages by allowing private insurance companies to sell insurance and allowing foreign straight speculation. Insurance companies in India are extensively divided by the types of insurance they sell - namely life insurance then general insurance. We have listed insurance companies in India. Originally, when thinking of buying health insurance, the major thing people look for is health insurance companies.
These numerous companies offer health insurance plans which deliver medical cover to the people for their doctor visits, hospitalization expenses, surgery fees, cost of medicines, nursing allowance, hospital room rent, etc. A minor accident makes you appreciate the importance of medicine. But do you want to wait for it to happen? No right, Therefore, it is significant to obtain a health insurance policy from a trustworthy health insurance company, rich besides poor, young and old, men and women. Protects you from financial burdens when you are diagnosed with a disease.
The main purpose of micro health insurance is to entrance limited medical services for a small fee. Michael Anthony of the German insurance company Allianz describes it this way: "A person with an income of only two dollars a day cannot commonly obtain medical insurance services. There is no place for low-income consumers in the world of health insurance.
Shri Lakshmi Devakar of the Institute of Public Health, Bangalore, South India, says of the need for micro health insurance: “We are looking for a big number of consumers. This will decrease the burden of premium on each person. With more people, this burden will be dispersed. "
There are dissimilar ways to get micro health insurance. The mate agent model method is one of them. In this way, an NGO otherwise NGO works carefully with a major health insurance company. The role of an NGO is like that of an agent. Publicity plays a significant role in promoting insurance and collects premiums from people and hands them over to the insurance corporation. In this way, the insurance company is an inaudible partner rather than straight to the public.
Therefore, each family has to pay the comparable of two to five dollars per year as premium. Although the insurance corporation could not make an enormous profit from it, Michael Anthony of Allianz Company is exactly satisfied with the fact that tens of thousands of people in southern India have joined microinsurance in two years. Profits from other profitable aspects are suggestively lower, but not permanently. It will automatically recover over time. When a consumer goes above the shortage line where he is now and the economic situation improves, the business that insures him will also benefit over time, ”he said.
Shri Lakshmi Devakar places more prominence on community-based public insurance institutes than on private insurance companies like Allianz as well as others like this: “In community health insurance, we are not talking approximately profit. We say that it will be collected together and it will also be distributed together. That's the decent thing to do, and it should end there. "
According to Deokar, community-based health insurance essentially operates on a member basis. In this way, it is mechanically able to withstand both risks as well as a benefit: "The first thing is that its major advantage is that it is relaxed. Community health services can be effortlessly provided to everybody. People definitely understand what they have to pay and what they will grow in return and how to pay the premium. And how do they benefit from it all? Hope you like it.
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