Friday, July 10, 2009

HEALTH INSURANCE premium to touch Rs 12000 crores during this year

Yes it is going to be true that HEALTH INSURANCE premium will touch Rs 12000 crores during this year.

Mr. Harish Rawat, Minister of state for labour and employment, informed Rajya Sabha that Rashtriya Swasthya Bima Yojana (RSBY) is being extended to all 600 lakhs BPL families in the country during the current financial year.

Taking average family size of 5 members this means that by the end of March 2010 we will have 30 crores persons covered under this Yojna.

Assuming premium size is Rs 750 per family this means premium collected by the insurance companies will be Rs 4500 crores. Against the backdrop that health insurance premium for the year ending march 2009 was Rs 6000 crores we in www.healthinsuranceindia.org estimate that health insurance premium during this year is going to be in the range of Rs.12000 crores to Rs 14000 crores .

This means that health insurance is becoming one of the prominent segments of Indian Insurance Industry.

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