Financial strain of disability in India high, insurance aims to bridge gap

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The story "Financial strain of disability in India high, insurance aims to bridge gap" was covered 5 hours ago by Business Standard, a news publisher based in India.

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Financial strain of disability in India high, insurance aims to bridge gap - Business Standard

Quick Summary:

A staggering number of Indians face financial hardship due to disability, with lakhs suffering temporary or permanent limitations each year and recognising this critical gap in financial security, insurance companies are stepping forward with innovative solutions, officials said on Sunday.

"The onset of disability often brings substantial healthcare expenses, making comprehensive insurance coverage crucial to prevent social and financial decline," Future Generali India Insurance, Chief Distribution Officer, Ramit Goyal said.

According to experts, close to 5 to 7 lakh people in the country suffer from temporary or permanent disability each year due to the high rates of accidents and crippling diseases and lose their ability to work and earn a livelihood.