New Delhi, June 27 -- 61 per cent of urban Indian households remain at risk of financial destabilisation from a single hospitalisation, even though many of them have some or other form of health insurance coverage, according to a report by BajajCapital Insurance Broking Ltd.
One of the major concerns raised by the report is the inadequacy of current insurance policies in covering actual financial needs.
The average term insurance coverage is estimated to be 30-50 per cent lower than what is required for long-term financial stability. This leaves policyholders significantly underprepared in times of crisis.
Despite rising digital literacy and greater availability of insurance products, the report warns that many Indians are still just o...
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