With a population of over 1 billion people in a developing country like India, health problems are inevitable. Basic diseases like malaria and tuberculosis are not eradicated. The drive against polio has reduced children acquiring it to a great extent. Yet it is not totally eradicated.
Despite a huge number of public hospitals, private hospitals and clinics few beds are vacant. Infact in public hospitals there are a huge number of people that do not get beds and stay in vain to for a decent bed. Even among the existing hospitals in India few are completely equipped with the necessary requirements. Hence sometimes patients have to move from one hospital to another due to lack of amenities.
The health insurance sector too in under the mark in India. In the beginning it was only government run insurance companies like the Life Insurance of India (LIC). But with liberalization many private companies have entered the insurance segment. A few to name would be Tata, Kotak, Alliance Bajaj, IFFKO, ICICI and many more. However the public sector still leads with a market share of 82% against 18% percent from the private sector.
The service provided by private players outdoes the government sector, bringing in more importance to private run companies. These companies have already gained trust with good performances that are revealed in the annual report. No doubt their customer base is increasing.
The most common policy that the public sector is enjoying is the mediclaim policy. With a paltry sum you get a cover for your life. A full-fledged life insurance also provides options like riders that offer more coverage in case of any incident. In 2004-05 the income from premiums paid towards life insurance reached 2 crores against 60 crores that have been kept aside for health issues.
Indians are getting more and more health conscious and this is visible through the mushrooming fitness clubs across all cities. As most of the work in the metros is sedentary, working out is the best way to keep in shape. So be it aerobics, dance classes, swimming or yoga in India, individuals are working towards keeping themselves fit and fine. Yoga as an exercise has shadowed the other fitness tiers world over and is gaining importance. This is because seniors as well as children and adults can do it in the comfort of their home. And the results are commendable.
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