11 Reasons Why Health Insurance Is Crucial In India

India has a booming tourism market with more than 7.4 million people visiting India in 2016 alone, and a projected growth of 10.26 people in 2017. These numbers continue to climb, and people are drawn here for the colorful and different cultures, the breathtaking scenery, and the famous landmarks like the Khajuraho Temples and the Taj Mahal. With this increasing tourist trade comes the rising need to have good health insurance. Whether you live in India or if you’re traveling to it, you need health insurance for a variety of reasons. If you’re curious why you’d need health insurance to travel to India, read on.

Why Health Insurance is Important in India

Coverage in Remote Areas

India is a beautiful country, but it has many rural and remote areas that you may travel to as you explore. Think of the medical facilities in the area. How would someone get to you in an emergency? If you have an accident or get sick in these remote areas, you may have to be airlifted to the nearest medical facility. A single trip in an air ambulance can cost between $12,000 to $25,000.

Water Quality

India’s water quality is one of the worst in the world, and this increases your chances of getting sick while you travel through or stay here. Even though hospital costs are roughly less than $300 per day in India, this can still add up quickly. If you don’t have health insurance, this can come out of your pocket. Also, any medicines or treatments you get will come from your pocket.

Road Accidents

Each year in India, over 150,000 people are killed in car accidents. This works out to roughly 400 people dying per day, and it’s more than triple the number of people who die each year in the United States. Having health insurance can help to protect you in the event of an accident on the road. Even if you don’t receive emergency services, it can give you greater peace of mind.

The State of India’s Healthcare Program

The percentage of India’s national budget that is spent on the healthcare sector is one of the lowest in the word. This makes it very difficult to get in and see a doctor for a routine visit or if you have something minor going on. Having health insurance when you’re in India means that you’ll have coverage if you have to do to an emergency room because you can’t get into a regular clinic. 

Access to Preventative Care

No matter where you are in the world, access to preventative care is a huge perk of having health insurance. Having the right insurance gives you access to vaccines, check-ups, screenings, and more even before you meet your maximum deductible. These preventative care services do vary by insurance company and plan, so always double check before you make an appointment.

Make Appointments Quicker

In India, the healthcare system is taxed, and this can mean that you wait a long time to see your primary care doctor or a doctor in a clinic setting. Clinics can legally turn away people who don’t have insurance in preference to people who do have active health insurance. Having insurance can lead to an overall healthier population because you can get access to care when you need it.

Cheaper Insurance Rates

More and more people are getting insurance in India, and this can lead to lower insurance premiums for everyone. The insurance companies are able to negotiate better rates for the hospitals and doctors, and this means lower deductibles and copays. It also creates a competitive market and insurance companies will lower their rates to compete with each other.

Financial Security

As we mentioned before, India’s hospital stays are relatively inexpensive compared to the United States. But, the average hospital stay is 4.5 days per visit. If you’re hospitalized in India for 4.5 days, you’ll typically spend around $1,350. This is enough to set many people back and drain their savings. Insurance can give you financial security because it can cover most or all of this cost.

See Also: 5 Financial Emergencies Everyone Must Be Prepared For

Growing Pharmaceutical Industry

India has an aging population and a growing pharmaceutical industry. Currently, India is on track to be the sixth largest pharmaceutical sector in the world by 2020. If you have health insurance, you can use it to purchase your prescriptions at a low or no cost to you. This is especially important for the aging population because they tend to have more daily medications.

Chronic Diseases

The number one disease that is responsible for the most deaths in India is heart disease followed by COPD or chronic obstructive pulmonary disease. Insurance can cover these conditions, especially if you plan to move to and live in India. In the United States, the average cost for a severe heart attack is around $760,000. This will cost you less in India, but it’s still over $100,000.

See Also: 10 Habits That Can Prevent Heart Disease

Pollution Levels

India is one of the top counties in the world for bad air quality. This means that you will breathe in pollution when you’re outside and inside. If you have respiratory conditions like asthma or COPD, you can end up in the hospital from the pollution levels triggering your respiratory conditions. Insurance will help to cover the costs of a hospital visit due to the pollution levels. These 11 reasons highlight why it is critical to have health insurance if you’re planning to travel to India or if you already live there. Not only can it give you financial security, but it can help you live a healthier and happier life.