Middle class populations and health insurance in India

 It’s actually the factor of affordability to consume goods, accompanied by the improved standard of living that has made Indian middle class population as a lucrative market for MNCs. No wonder that providers of health insurance in India would be targeting that segment to promote their service and schemes.

Companies make every possible measure to identify true potential of a target market, before deciding upon strategies to be formulated to penetrate it. Such a market is judged with respect to a number of dimensions, right from the bettered living standards, improved income level or anything else that enables an individual to afford cash outflow for long term benefits. Indian middle class population is a classic example of a market featured with such specifications, and has enjoyed the status of preferred destinations for big shot MNCs  Medical Insurance issuers had no reasons to ignore the potential of such a hugely prospective market, and currently the major chunk of revenues are earned from this middle class population. Gone are those days when India lacked the proper medical infrastructure to provide the basic medical facilities to her major population. Things have changed, and a host of world class medical services are made accessible before the Indian citizens. People are keen to ride on the facilities offered by providers of health insurance in India   these days, shading off the inhibitions regarding investment to be made for meeting future medical emergencies.

 From business point of view, such a valuable client base is always lucrative for the medical insurance scheme providers. A typical middle class family in India now-a-days is way different from its predecessors, whether in terms of living much better life or with respect to the level of income. Naturally, such a population with considerable financial strength wouldn't mind in paying few extra bucks in addition to the normal and regular expenditures made. The motive for maintaining a separate fund allocated for meeting medical emergencies was always there, but somehow people lacked that affordability. Now it’s a different ball game, and families where all the members are covered under suitable medical schemes aren't rare anymore.

Awareness build-up among middle class families for having a systematic investment plan has also contributed a lot to the business expansion of the health insurance providers. Instead of breaking hard earned savings for medical treatments, an investor finds it logical enough to pay a regular and standard amount to safeguard the future by allocating reserve funds to fulfill medical liabilities.