25, June 2025
A Study on Need & Awareness levels on Health Insurance Products and Services among Professors working in Self Financed Institutions offering Higher Education in Bangalore North.
Author(s): Dr. Lakshminarayana S.
Authors Affiliations:
Asst. Professor, AIMS School of Commerce and Finance-PG.
DOIs:10.2015/IJIRMF/202506022 | Paper ID: IJIRMF202506022Abstract
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Abstract: Health Insurance is a part of “Personal Insurance and General Insurance”. The medical insurance or mediclaim policy is very well known in India. There are lots of companies which have been offering the cheap mediclaim policies in India. The history of health insurance in India traces back to 1923 when the „ Workman‟s Compensation Act‟ was passed. The year 1948 saw the introduction of ESI Act. Since then, the health insurance market has been a wild frontier with rules constantly evolving Indian Health Insurance covers medical treatment, in case of illness and accidents. Get good medical care without worrying about expensive treatment. In a narrow sense would be an individual or a group purchasing health care coverage in advance by paying a fee called premium. Health insurance is very well established in many countries. But in India it is a new concept except for the organized sector employees. In India only about 2 per cent of total health expenditure is funded by public/social health insurance while 18 per cent is funded by government budget.
This study focuses on the concepts and awareness of health insurance policies among Professorss and their arrangements in meeting the medical expenses of their families.
Keywords: Health Insurance, Mediclaim policies, Health care, IRDA.
Dr. Lakshminarayana S.(2025); A Study on Need & Awareness levels on Health Insurance Products and Services among Professors working in Self Financed Institutions offering Higher Education in Bangalore North., International Journal for Innovative Research in Multidisciplinary Field, ISSN(O): 2455-0620, Vol-11, Issue-6, Pp.162-169. Available on – https://www.ijirmf.com/