By: Vidyalaxmi, ET Bureau
Prevention is better than cure, as they say. The growing health insurance segment bears this truism out, which is witnessing almost 100% claims ratio. Insurers say that some 16 out of every 100 policyholders register claims under the health policy every year. In other words, the cost of treating 16 policyholders is equal to the premium collected from 100.
Insurers have now discovered that they can make substantial money out of health insurance if they can prevent one out of 100 policyholders from falling ill. To this effect, they are now offering freebies like free health check-ups and discounts on gym memberships to policyholders.
The same financial logic applies to individuals as well. For instance, getting a cavity filled in early will help save several times the amount on a root canal treatment. Most ailments requiring surgery do not occur overnight, but build-up over a period of time and in many cases, can be detected early through regular checks.
Doctors say, you almost save up to 50% on health costs with regular check-ups, exercise and balanced diet. The idea is to avoid severe health complications which could also take a toll on your biological as well as financial health.
http://economictimes.indiatimes.com/quickiearticleshow/5688272.cms
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