Nowadays health insurers are providing benefits to the insureds not only by bearing the medical expenses but also by adding options to the policy for their better health.
Like a health coach
Discount in the renewal premium for following any healthy habit and making a difference to their health.
Especially in India, it’s difficult to make people buy insurance in case some uncertainty happens and they get hospitalized.
Rather I believe it’s easier to sell a product that would give a good return on premium if they follow some healthy habits and make a difference in their health condition. The overall return on the premium can be combined with saving on tax and it should be larger than what they actually end up paying as a premium.
People who are reluctant to buy health insurance to save money would be the most likely to try to improve their health and buy a medical policy to earn more money.
And we have a larger portion of people with this mentality in India.
What is your opinion on this?