Abstract

Health insurance is an emerging channel of distribution adopted by insurers to increase the insurance market and its penetration. Health Insurance can reimburse the expenses of individuals incurred from the long term illness or sudden injuries to pay care provider directly. The present study attempts to know the perception levels to find out the awareness, influence, expectations, and willingness to purchase policy from the Non-Health Insurance Policy holders in Hyderabad City. A sample of 118 respondents were collected for this purpose and statistical analysis such as percentage analysis for socioeconomic factors, awareness levels, sources of information, the Insurer type, policy options, and preferences in payment methods among the Non-Health Insurance policy holders was done. Ranks were assigned to the variables for influence in purchasing the policy through weighted average scores. Different influential factors for buying health insurance policy was explored by Exploratory Factor analysis. We found in our study that socioeconomic factors, individuals’ perception and personality traits induces health insurance policy buying behavior in the region.

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