Monday, September 14, 2009

Insurance and Insurance Companies India

Have a look in the 80’s India, when health care was limited to some government owned hospitals and treatment was offered free of cost. Gradually, private hospitals were established and medical charges became a reality. It was only after private medical care, that the strong need was felt for health insurance and Mediclaim insurance, the first Health Insurance policy India happened. The beginning was marked by various insurance companies of India like New India Assurance, National Insurance Company, Oriental Insurance and United Insurance Company India. The recent market surveys have revealed the fact that health insurance in India is the fastest growing segment with an annual growth rate of 55%.

Figures show that the health premium has grown to Rs. 3300 crores in the yearly term of 2006-07. The projected growth of the health sector is estimated to be of Rs. 25000 crore by the end of 2010. A number of Insurance Companies India offer Health care insurance or Medical Insurance, to name a few, Apollo Munich , Bajaj Allianz, Cholamandalam MS, HDFC, and so on. Most of these companies are actively offering insurance policy online. With these companies offering a number of options in medical insurance, customers have plenty of choices to make on the basis of requirement and prices.

All insurance companies in India offer insurance policy in accordance with specified regulations. The Insurance Policy India is immensely popular; it is offered by banks and financial organizations in collaboration with several other automobile companies, home loan providers and so on.