Rising Health Insurance Claims Among Millennials: A Policybazaar Report

Policybazaar for Business reports increasing insurance claims among 25-35 age group, highlighting maternity coverage. Women lead with 60% of claims, while men, especially 35-45, report more lifestyle-related claims. Companies are customizing health benefits, and startups are offering wellness incentives to attract talent.

According to a report by Policybazaar for Business, individuals aged 25-35 are making the most insurance policy claims, with maternity coverage being a significant factor. The report reveals a surge in claims from women, who account for 60% of total claims, while men's claims stand at 40%, primarily from those aged 35-45 due to lifestyle-related illnesses.

The trend reflects a growing focus on tailored health benefits, as companies respond to the increasing demand for higher maternity coverage and wellness perks. In urban areas, firms are opting for higher insurance sums to cut out-of-pocket expenses, while those in smaller cities are adopting co-payment models to manage premiums.

Startups and sectors like IT and fintech are luring talent with versatile plans that include telehealth and mental wellness services. Chronic conditions like cardiovascular and respiratory diseases contribute to repeat claims, emphasizing the need for comprehensive health coverage. Insurer networks are expanding in non-metro areas to enhance cashless benefits.