Health insurance: What do online buyers prefer

Nearly four out of 10 consumers, that is, 40% of those purchasing health insurance online prefer a minimum cover of Rs 5 lakh, according to a study.

 

Nearly four out of 10 consumers, that is, 40% of those purchasing health insurance online prefer a minimum cover of Rs 5 lakh, according to a study by Policybazaar.com Product & Innovation Centre (PIC), indicating that the average health insurance has increased from Rs 2 lakh to Rs 5 lakh. The study took into account the buying behaviour of 10,000+ consumers purchasing health insurance online across 20 states.

Nearly 22% of those surveyed opted for Rs 3 lakh cover, while 12% opted for Rs 10 lakh cover. According to the study, those in the age group 26-45 years were the most active when it came to buying health insurance online. Of those surveyed, nearly 75% belonged to this age group.

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