Health insurance is emerging as the most important tool for the well-being of everyone in our country. With the liberalization of the insurance sector, new health insurance products are developed and marketed by the insurance companies. However the new products that serve the various requirements and needs of consumers in view of differing coverages, conditions and exclusions of the policies require to be examined by the prospective consumer before purchasing an insurance policy.

Health insurance is emerging as the most important and fastest growing portfolio in the non-life insurance sector in India. It is mainly because the healthcare provisions are not satisfactory due to mismanagement and large scale corruption. Now the middle-class people with their rising incomes are not prepared to take the risk of life of their kith and kin in government-run hospitals but are rather ready to take the extra financial burden of premium for the sake of this vital aspect of their life i.e., healthcare.

In the financial year 2007-08, the non-life insurance industry underwrote a total of Rs. 28,126 cr premium which included health premium of Rs. 4,969 cr, the second largest portfolio after insurance which stood at Rs.12,803 cr. The incurred claim ratio of health insurance portfolio of the public sector insurance companies was 157.79% and that of the private sector insurance companies was 103.42% for the year 2006-07. The incurred claim ratio of health insurance portfolio can be brought down by development of business and better management of claims.

Health Insurance Products, General Insurance Companies, Insurance sectors, Non-life insurance sectors, Non-life insurance industries, Health insurance portfolio, Public sector insurance companies, Business management, Health insurance policies, National's Parivar policy.