Insurance is a panacea. A cure for all ills. On falling sick, your family rushes you to hospital and the health insurance plan takes care of the medical bills. Your car is involved in an accident and severely damaged. No problem….Just rush your car to the insurer and the surveyor will assess the damage…You will be compensated for the loss.
Your business is destroyed by a natural calamity like a flood. Just think of the floods in Kerala where more than 150 people lost their lives. Just think of the crores of rupees, businesses in Kerala have lost. Fortunately, you have business insurance and can make a claim for damages. The business insurance takes care of your business.
Your two wheeler is involved in a collision. You rush the bike to the insurer and he settles the claim. Yes, there’s insurance for everything. But, what about a mental illness? Is there insurance for mental illnesses in India?
Sadly, insurers are reluctant to insure mental illnesses in India. Let’s find out why. Want to know more on health insurance? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.
The Parliament of India had passed the Mental Health Care Act 2017 to ensure people with mental issues enjoyed a life of dignity. This Act states that insurers must have a provision for medical insurance for the treatment of mental illnesses, just like physical illnesses. But, insurers don’t care. They neglect the insurance of mental illnesses in India.
Treatment for mental illnesses is done outpatient. There’s no need to stay in the hospital. This is why health insurers do not cover mental illnesses as the focus is on claims vis-à-vis inpatient treatment.
What’s the solution? If customers bring cases against the health insurer vis-à-vis mental illnesses and the health insurer does not bother, then the Government can take strict action against the insurer under the Mental Health Care Act 2017.
Unlike in Western Countries like the US or the UK, mental health is not taken seriously in India. There is a stigma attached to mental illnesses. Citizens in India are reluctant to disclose a mental illnesses fearing friends and family might laugh at them or try to take advantage of the situation. This attitude must change for the effective treatment of mental illnesses.
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