Many corporates, particularly top IT companies and BPOs, are pruning the health insurance coverage for their staff, following sharp increase in premium rates. Some corporates have even taken away parents of employees from their group insurance scheme, restricting the benefit only to the staff.

The incidence of chronic diseases has been on the rise all over the world in recent years.

The Indian government plans to provide medical insurance to the country's 300 million poor people, most of whom work in the unorganised sector and are thus deprived of quality healthcare.

Health insurance in India has traditionally been associated with one name – “Mediclaim”. Though many of us don’t realise it — Mediclaim is actually a brand name, which acquired the status of a generic product category — much like Dalda (which was till recently the generic name for Vanaspati) or Vicks in their time.

The sunset club has received a welcome relief in this Budget. By allowing individuals paying mediclaim premium for their parents an additional deduction of Rs15,000 under Section 80D of the Income-Tax Act, Budget 2008-09 has offered a gift to the elderly. But, only on the face of it.

Desperate to partake of the health insurance pie, of which private life insurers have got mouthfuls already, behemoth Life Insurance Corporation (LIC) has finally launched a health insurance plan of its own - Health Plus.

'Is your future secure? How will you pay if your health suddenly goes for a toss? Do you have health insurance?' These are questions that every health insurance planner has on the tip of his tongue. Too bad that traditional advertising did not help either.

Life Insurance Corporation of India has got the approval of regulator IRDA for its health insurance product 'LIC Health Plus', which would be launched by February.

Health insurance is touted to be the next big thing in insurance. Being a 'neglected branch of insurance', it could be treated as a separate line of business altogether.