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  Discounted rates, a set price for the duration of the policy, a lack of yearly renewal      procedures, and consequently ongoing protection are all advantages of paying multi-year premiums. There is a growing sense of health insurance awareness among millennials and Gen Z in the face of increased lifestyle diseases, unanticipated health risks, skyrocketing healthcare expenses, and financial instability. Many working professionals in these two groups are covered by group health insurance. However, these policies only provide coverage for the policyholder while they are actively employed and provide an average sum insured of Rs 2–5 lakh, which is quite a merger given the escalating cost of healthcare. In order to secure the best possible level of medical protection, getting a separate health insurance policy—whether it be a standalone or family floater—has become a justifiable need. It guarantees that one is consistently and effectively safeguarded. ...

Growing monetary concerns among people in India, during the time when the country's economy is on the edge of recession, are not groundless, as many employers have imposed cuts in salaries and benefits. With the number of coronavirus cases increasing exponentially in India, frightening narratives of lack of bed availability, exorbitant charges levied by private hospitals to treat COVID-19 patients have emerged. The need for a health insurance policy to cover medical expenses is of primary importance during this time. According to the Asia Insurance Review, less than 4 per cent of COVID-19 patients in India have health insurance coverage, which is not surprising considering that total insurance coverage in India is very small. In April 2020, the Insurance Regulatory Authority of India (IRDAI) announced that all health insurance policies that cover the cost of hospitalization care provided by both general and health insurance firms should also cover the cost of hospitalization fo...