MAM
Axis My India releases India Consumer Sentiment Index
Mumbai: The leading consumer data intelligence company, Axis My India, has released its latest findings of the India Consumer Sentiment Index (CSI). It is a monthly analysis of consumer perceptions on a wide range of issues.
The report from the month of November highlights that 61 per cent engages with the internet daily and 23 per cent use it for ‘chatting’ through WhatsApp, Messenger, Instagram, etc.
The report finds that 52 per cent of respondents are aware of the recently launched 5G technology, and 24 per cent of them intend to switch to 5G phones.
The sentiment analysis delves into five relevant sub-indices: overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits, and mobility trends.
The research also shows that 21 per cent of households have increased their media consumption (TV, Internet, radio, etc.), a rise of two per cent from the previous month. 55 per cent intend to watch the T20 World Cup; 69 per cent of them will prefer to watch it on television; 28 per cent will watch it on their phones.
The survey was carried out via computer-assisted telephonic interviews with a sample size of 10,207 people across 32 states and UTs. 70 per cent belonged to rural India, while 30 per cent belonged to urban counterparts. In terms of regional spread, 26 per cent belong to the northern parts, while 24 per cent belong to the eastern parts of India. Moreover, 30 per cent and 20 per cent belonged to the western and southern parts of India, respectively. 56 per cent of the respondents were male, while 44 per cent were female. In terms of the two majority sample groups, 28 per cent each reflect the age groups of 26 to 35 and 36 to 50.
Commenting on the CSI report findings, Axis My India chairman and managing director Pradeep Gupta said, “The growing dependency on the internet has impacted all spheres of the consumer’s life. From chatting to networking, expressing, and now watching, the internet has evolved to fulfil all consumer needs and will continue to do so in the future with the advent of 5G. While the dependency on online apps for grocery purchases is still at a nascent stage, we are more than confident that, like any other daily task, this too will become completely an online behaviour in the next few years. From adapting newer modes of media consumption like watching the World Cup on a phone to having varied other forms of empowered user experiences on the internet, 5G will only continue to shape consumer consumption behaviour”
Further, the report also highlights that spending on essentials like personal care and household items has increased for 46 per cent of the families, which is an increase of two per cent from last month. The net score, which was at +25 last month, has increased by +2 to +27 this month. Spending on non-essential and discretionary products like an AC, car, and refrigerator has increased for 11 per cent of families, which reflects an increase of two per cent from last month and the highest increase in the last five months. The net score, which was at +3 last month, has improved to +4 this month, showcasing a steady upliftment in spending sentiment.
Expenses for health-related items such as vitamins, tests, and healthy food have surged for 39 per cent of the families. This reflects an increase in consumption of two per cent from last month. The health score, which has a negative connotation, i.e., the less one spends on health items, the better the sentiment, and has a net score value of -23, which is the same as last month.
Buying family medical insurance online in India has become a common option for individuals who want to secure health coverage for multiple family members under a single policy. However, many buyers are unsure about the exact steps involved in selecting and purchasing the right plan online.
In this guide, you will know the step-by-step process of buying family medical insurance online in India, along with the key factors to review before purchasing a suitable policy.
Step 1: Assess Your Family’s Healthcare Needs
Before buying online health insurance, check the healthcare needs of all family members. Check age, existing illnesses, regular medicines, and the likely need for hospital care later. This helps in selecting a suitable sum insured, policy type, and level of cover. It also reduces the chance of buying a plan that appears suitable but does not meet actual medical needs.
Step 2: Visit the Insurance Company’s Official Website
After understanding the family’s needs, visit the insurer’s official website and read the plan details carefully. Use the official platform to review eligibility, policy wording, waiting periods, cover details, exclusions, and renewal terms.
This step gives a clearer understanding of how the policy works before payment is made. It also helps avoid confusion caused by incomplete summaries on other pages.
Step 3: Compare Available Family Health Insurance Plans
A family medical insurance policy should be compared on factors beyond the premium. Review the sum insured, hospital network, room rent limits, pre- and post-hospitalisation cover, daycare treatment coverage, and waiting periods. It is also important to check treatment sub-limits and specific policy conditions.
Careful comparison helps determine whether a plan provides balanced coverage and whether its terms are suitable for the healthcare needs of the entire family.
Step 4: Choose the Right Policy and Start the Online Purchase
Once the options have been compared, select the policy that best fits the family’s medical needs and budget. Before starting the application, review the covered members, policy term, benefits, and main conditions again. This is an important stage because errors here can lead to the wrong cover amount, an unsuitable variant, or missing details that create problems during policy use.
Step 5: Calculate the Premium Using an Online Calculator
Use the online premium calculator before making the final choice. Enter the correct details, including age, city, number of insured members, and selected cover amount. The result helps in understanding the expected premium and whether the policy fits the annual budget. This step is useful because it allows cost and coverage to be reviewed together, instead of choosing a plan only because the premium looks lower.
Step 6: Fill in Personal and Medical Details
When filling in the proposal form, provide accurate details for each insured member. This includes name, date of birth, contact details, medical history, ongoing treatment, and previous insurance information if required.
Every answer should be complete and truthful. Incorrect or missing details can create difficulty later. Before you submit the form, read every section again and correct any mistakes.
Step 7: Make Payment Through the Secure Payment Gateway
After checking the form, go to the payment page and complete the transaction through the secure payment gateway. Review the premium, policy term, and entered details once more before confirming payment.
After the transaction is completed, save the receipt, reference number, or confirmation message carefully. Keeping this record is useful if you need to track the purchase or follow up on policy issuance later.
Step 8: Download and Keep Your Policy Document Safely
Once the policy is issued, download the policy document, schedule, and any related papers without delay. Read them carefully to confirm member names, policy period, sum insured, and major terms. Save a digital copy in a secure folder and keep a printed copy if needed. Proper record keeping makes future renewals, document checks, and policy servicing easier and more organised when information is required quickly.
Conclusion
Buying health cover online becomes easier when you handle each step with attention. From checking your family’s needs to reading the final document, every stage helps you make an informed choice. A careful approach can reduce mistakes, improve your understanding of policy terms, and help you choose coverage that matches your household’s medical needs, financial capacity, and long-term healthcare planning in a reliable way for your family over the long term.
