The index of health insurance had been constant in the previous two quarters, namely Q4FY20 and Q1FY21 at ₹24,026, according to the report. The premium prices for health insurance are average prices taken from the leading six health insurance companies for all age groups, i.e., 26 years, 36 years, 46 years, and 56 years. Besides, the constantly increasing Term Insurance Price Index has once again reflected a change with a 2.79% surge, taking the average price of term insurance premium to ₹22,524 in Q2FY21. The term insurance average price of ₹1 crore sum insured reached ₹29,007 in the previous quarter. With the latest shift, the term insurance space has witnessed a cumulative surge of 7.29% between Q4FY20 and Q2FY21 in India.

Source: Mint July 03, 2021 05:37 UTC