Data analyzed by Policybazaar reveals a significant rise in the demand for affordable health insurance, with 70% of individuals opting for cost-effective coverage in fiscal year 2024. Notably, 60% of these customers are first-time insurance buyers. Among them, seniors aged 55 and above constitute the largest demographic, comprising 34% of total buyers, followed closely by those aged 41-55 at 29%. While seniors traditionally favored plans with co-payments to reduce premiums, a positive shift is observed, with 25% now opting for plans with zero co-pay. This trend underscores increasing flexibility and accessibility in health insurance offerings, enabling individuals to align coverage with their financial circumstances and healthcare needs effectively.
Demand Surges for Cost-Effective Health Insurance: Seniors Lead the Way
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