The Importance of Health Insurance in the Various Insurance Sectors in India: A Review

Abstract

The pressure of competitive and dynamic markets has contributed to the provision of these services. A booming financial market holds the interest of most of the Indian today. The banks are no longer the means of saving money and taking loans but they have turned into one stop any financial need by a common man. For banks seeking to improve their performance, developing offers to attract mass affluent customers may be the key to raising their profile and reducing their cost-to income ratios. Each banking institution must weigh the economics of such a move and determine whether there is demand for such service in its market. Insurance is a finance service for collecting the savings of public and providing them with risk coverage. It reimbursement in a situation of loss, The risk may be certain events like death, retirement, pension, education, marriage etc. or uncertain events like theft, accident, fire, ill-health, etc. Insurance is pooling of risks, when the concepts of insurance to arises, a pre-payment of some type is required. Today, there is insurance for many aspects of daily living: Business, Auto, Health, Life and Travel. The health insurance is one of the very important products for various types of insurance products. In this study we are analysis the various types of health insurance policy effects on the human life.