The Insurance scene of the nation has been seen crumbling as the finances related to the insurance industry are also slowing down and crashing. Efforts are being made to revive the dying insurance industry of India, and as far as we have seen, all the efforts are in vain and are not even near to help the sector of insurances.
The insurance enterprise has never been a powerful one in India, as the implementation of the insurance policy is inferior be it auto insurance or health insurance, all take a while to claim, and the benefits take a while to kick in, by the time they do it’s too slow. As the insurance policies have started excluding the significant diseases in the medical world that people take an insurance cover, the popularity of the insurances fell as they always failed to cover what the insured person wanted. The insurance cover that the senior citizens get in India is the only one that they buy, and there is no insurance system by the government to help them. This has been hugely criticized by the nations, and a country like India with a considerable population should have such a system. Insurance for health should be made available for the seniors, and this will also help to boost the insurance sector as more and more people would want to invest in for their retirement.
The nation should work on its promotion of insurances and help the insurance sector get back as it is an integral part of the financial system.
Tags : Insurance scene, insurance enterprise, insurance policies, senior citizens, financial system,