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7. Failure to provide valid travel medical insurance | All Schengen visa applicants must present proof of medical insurance covering at least $32,500 for emergencies, hospitalisation, or repatriation. If the policy is invalid, incomplete, or does not cover all Schengen countries, the application will be refused. Proper insurance ensures travellers can handle unexpected health or travel emergencies abroad. (Image: Shutterstock)
Finance
C
CNBC TV18•05-01-2026, 12:35

IRDAI Flags Gap: Health Insurance Premiums Up, Protection Lags Behind

  • •IRDAI's annual report highlights a disparity between health insurance premium growth and actual protection outcomes in FY25.
  • •Health insurance premiums grew over 9% to ₹1.17 lakh crore, covering 58 crore lives under 2.65 crore policies.
  • •Despite growth, a significant protection gap persists, particularly in individual coverage, with group policies dominating.
  • •Rising healthcare costs, medical inflation, and fraud risks continue to strain insurers and policyholders.
  • •IRDAI urges insurers to enhance product design, claims servicing, and transparency to improve consumer confidence and protection.

Why It Matters: IRDAI warns health insurance premium growth isn't translating to better protection due to gaps in coverage and rising costs.

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