Transcript HISTORY AND EVOLUTION OF HEALTH INSURANCE.

HISTORY AND EVOLUTION OF
HEALTH INSURANCE.
 “Health” comes from the Old English
word hale. meaning “Wholeness,
sound or well”.
 Health insurance is generally used to
describe a form of insurance that pays
for medical expenses.
INCOME WILL BE FROM THE
RANGE OF 10000 – 15000,
15000 – 25000, 25000 – 35000.
EXPENSES WILL BE
ACCORDING TO THE
INCOME.
BUT EACH INDIVIDUAL WILL
PLAN TO SAVE
SAVING MAY VARY 1000 PER
MONTH TO 4000 PER MONTH.
HOW MUCH WILL ONE SAVE
CAN WE BE ASSURE NO MEDICAL EMERGENCY WILL OCCUR IN OUR LIFE
WHAT IF A MEDICAL EMERGENCY ARISES
HOW MUCH WILL BE THE COST OF HOSPITALIZATION
WHAT WOULD BE THE EXPENSES
HOW SHALL ONE BEAR THE SAME.
SAVING PER
MONTH
SAVING PER
YEAR
SAVING OVER A
PERIOD OF
10YEARS
CAN WE
ASSURE NO
MEDICAL
EMERGENCY
WILL BE
REQUIRED IN
THIS 10YEARS
1000
12000
1,20,000/-
NO
2000
24000
2,40,000/-
NO
3000
36000
3,60,000/-
NO
4000
48000
4,80,000/-
NO
WHAT WOULD BE
THE AMOUNT
REQUIRED FOR
THIS MEDICAL
EMERGENCY.
DEPENDING ON
THE NATURE OF
HOSPITALIZATION
HEALTH INSURANCE - Expenses
• Self financing
• Question
Is It possible for all
to afford it
• 3 ways to pay
Medical Expenses
• As it will take care
of Expenses
incurred during
Hospitalization and
give security
against asset
depletion.
Individuals
Out of pocket
Health
Insurance
External
Source
• i.e. Borrow or
Manage the
expenses by
personal loans
from friends,
family & Banks
etc.
MY ROLE AS AN FINANCIAL PLANNING ADVISOR TOWARDS
MY CUSTOMER
40% of the people who are
Hospitalized either borrow money
or sell assets to cover medical
Expenses.
16% of Indians are pushed
Into poverty by rising
Health Care Costs.
Source : World Health Organization
Advantages of Health Insurance
•
•
•
•
•
Security against Asset depletion
Quality Medical Services
Need of the hour.
Premium Affordability.
Total protection covering all medical expenses
due to hospitalisation
How much of Health Insurance
Coverage do I need?
Present age _________ Years left to Age 60 ____________
Health Expense
Cost Now In Rs.
Cost of Critical
illness in a Quality
Hospital
Cost
Cost when you turn
60(@8% inflation)
in Rs.
Average Cost
By-pass
Organ transplant
Cancer
Suggested Health Plan :_______________________________________________
Sum Insured :_________________________________________
Premium Inclusive of Tax : _______________________________
HEALTH INSURANCE – Expenses
In a Quality Hospital
5years (12% inflation)
(2015)
Estimate Cost
10years (8% inflation)
(2020)
20years (8% inflation)
(2030)
Health Ailment
Approximate Cost Today
(2010) in Rs.
Coronary Artery Bypass
Graft
1,50,000 - 4,00,000
2,64,000 - 7,05,000
3,24,000 - 8,64,000
6,99,000 - 18,65,000
Angioplasty
1,00,000 - 3,00,000
1,76,200 - 5,28,000
2,16,000 - 6,48,000
4,66,000 - 13,98,000
Organ Transplantation
(kidney and liver)
7,00 000 - 25,00,000
12,34,000 - 44,00,000
15,11,000 - 53,97,000
32,63,000 - 1,16,52,000
Cataract
25,000 - 50,000
44,000 - 88,000
54,000 - 1,07,000
1,17,000 - 2,33,000
Dialysis + Cost of Fluids
3,000 - 4,500
5,500 - 7,500
7,000 - 9,000
14,000 - 20,000
Chemotherapy
(including drugs)
15,000 - 30,000
26,500 - 53,000
32,000 - 65,000
70,000 - 1,40,000
Lithotripsy
(Kidney stone removal)
30,000 - 50,000
53,000 - 88,000
65,000 - 1,08,000
1,40,000 - 2,33,000
Appendectomy
40,000 - 80,000
70,500 - 1,41,000
86,000 - 1,73,000
1,86,000 - 3,73,000
Maternity Cost
(Normal delivery)
20,000 - 80,000
35,000 - 1,41,000
43,000 - 1,73,000
93,000 - 3,73,000
Health Insurance - Premium
Investment
??????
Premium
Peace of Mind
Preserve
Wealth
Security on
Savings
HEALTH EXPENSES CHART AS PER YOUR LIFE STAGE
PROBABLE
HEALTH EXPENSES
ACCIDENT
UNMARRIED
Medium
NEWLY MARRIED
Medium
Medium
Low
Low
Low
Low
NORMAL ILLNESS
HOSPITALIZATION
Low
Low
ROUTINE CHECK
UP
Low
Low
DENTAL
Low
Low
Not Applicable
VACCINATION
FOR CHILD
Not Applicable
DOCTOR
CONSULTATION
FEES, TESTS AND
MEDICINES
EYE CHECK UP
HEALTH CARE
PRODUCTS
MARRIED
WITHOUT
CHILDREN
Medium
CRITICAL ILLNESS
MATERNITY
MARRIED WITH
CHILDREN
High
Medium
High
Low
Medium
Low
High
Medium
Medium
High
Medium
Medium
Medium
Medium
Medium
Medium
Low
Low
Medium
Medium
MATURED
PARENTS
High
60+
High
High
High
High
High
High
High
High
High
Not Applicable
Not Applicable
Not Applicable
Not Applicable
Medium
High
Medium
Medium
High
High
Medium
Medium
High
High
Probability of Health Care Expenses High Medium Low Not Applicable
Why Star
 First Exclusive Health Insurance company in India.
 Business: Health, Personal Accident and Overseas Travel
Insurance only.
 Innovative Products. Like Senior Citizen, Super Surplus, Diabetes
Safe, Health Gain.
 In House Claims Settlement.
 In-house Doctors – for Hassle Free Settlement.
 24X7, Call Centre , Toll Free Number and Highly Sophisticated
Web Site.
 250 Offices Across India with 5000 Employees
 Over 5000 Network hospitals Across India.
Company Introduction
Mr.V.Jagannathan
Chairman and Managing Director
Mr. Essa Abdullah Al Ghurair
Prominent Industrialist in Dubai
Mr. V.P Nagarajan
Executive Director ETA
Group
Mr. Mohamed
Hassan
Director Star Health
and Allied Insurance
Co Ltd
Mr. M Y Khan
Former CMD J&K
Bank
Mr. Padmashri D.R.
Karthikeyan
Former Director of CBI
Mr. Dinesh Chandra
Gupta, Former Finance
Sec. GOI & Member of
MRTP –Commission
Mr.Sumir Chadha CoFounder and MD of
West Bridge Capital
Partners
Ms. Vishakha Mulye
Managing Director &
CEO ICICI Venture
Funds.
Message
CMD
• “We Care for Your
Health & Wealth”
Star’s Strength
• Products
• Service