MAM
India continues to be the second most economically confident nation: study
MUMBAI: India continues to be the second most economically confident nation globally on the back of improved performance by industry and services sector, according to a report by global research firm Ipsos.
According to the ‘Ipsos Economic Pulse of the World’ study, Saudi Arabia (94 per cent) solidified its position at the top of the national economic assessment in February 2015, followed by India (80 per cent), Germany (76 per cent), Sweden (73 per cent), China (71 per cent), and Egypt (61 per cent).
The lowest average global economic assessment this month is in Italy (eight per cent). Close behind are France (10 per cent), Brazil (12 per cent), Spain (12 per cent), South Korea (13 per cent) and Hungary (16 per cent).
One in two (50 per cent) Indians believe that the local economy, which impacts their personal finance is good, a sharp drop of five points.
Indians are very hopeful that the Narendra Modi-led NDA government will continue making progress on its domestic reforms agenda and encourage investments that will trigger economic growth and create more jobs; with more than six in ten (64 per cent) people expecting that the economy in their local area will be stronger in next six months, a rise of two points making India the most optimistic country globally.
“The Indian economy is reviving, aided by positive policy actions by the government that has improved investors’ confidence and lower global oil prices. However, India needs to revitalize the investment cycle and fast-track structural reforms to speed up growth further,” said Ipsos managing director – India Amit Adarkar.
“India – Asia’s third-largest economy is expected to grow faster than China in the next few years backed by strong GDP growth, low inflation and stable development focused government at the center,” added Adarkar.
The online Ipsos Economic Pulse of the World survey was conducted in February 2015 among 18,235 people in 24 countries.
Starting the New Year on a positive note, the average global economic assessment of national economies surveyed in 24 countries is down one point as 40 per cent of global citizen’s rate their national economies to be ‘good’.
Countries with the greatest improvements in this wave: Saudi Arabia (94 per cent, +7 pts.), Belgium (39 per cent, +6 pts.), Japan (26 per cent, +3 pts.), Argentina (24 per cent, +3 pts.), Mexico (22 per cent, +3 pts.), France (10 per cent, +3 pts.), Russia (28 per cent, +2 pts.), Sweden (73 per cent, +1 pts.), South Africa (27 per cent, +1 pts.) and Spain (12 per cent, +1 pts.).
Countries with the greatest declines: China (71 per cent, -9 pts.), Egypt (61 per cent, -6 pts.), Germany (76 per cent, -5 pts.), Brazil (12 per cent, -5 pts.), Canada (59 per cent, -4 pts), the United States (47 per cent, -4 pts.), Australia (56 per cent, -2 pts.), Great Britain (44 per cent, -2 pts), Turkey (43 per cent, -2 pts), and Poland (25 per cent, -1 pts.).
Saudi Arabia (68 per cent) regains the top position in the local economic assessment, which impacts their personal finance. Sweden (59 per cent) is in the distant second, followed by China (53 per cent), Germany (53 per cent), Israel (51 per cent), India (50 per cent) and Canada (40 per cent). Small minority assess their local economy as ‘good’ in Italy (11 per cent) followed by Hungary (12 per cent), South Korea (13 per cent), Spain (13 per cent), France (15 per cent), Japan (15 per cent) and Mexico (15 per cent).
India (64 per cent) remains in the lead of the future outlook assessment, followed by Saudi Arabia (60 per cent), Brazil (51 per cent), China (44 per cent), Egypt (44 per cent), Mexico (38 per cent) and Argentina (32 per cent). Once again, only a fistful in France (five per cent) expect their local economy to be strong six months from now, followed by Israel (eight per cent), Belgium (10 per cent), Sweden (10 per cent), Hungary (11 per cent), South Korea (11 per cent), Italy (12 per cent), Poland (12 per cent) and Japan (14 per cent).
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Instead of reimbursing hospital bills, this rider offers a lump-sum payout you can use as needed. Understanding its mechanism helps you decide if your coverage is truly complete.
What is a Critical Illness Rider?
It is an add-on benefit attached to your existing health insurance policy. It provides a fixed lump sum amount if you are diagnosed with any illness listed under the rider. You become eligible for a payout solely on the basis of diagnosis, not by hospitalisation or treatment expenses.
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How a Critical Illness Rider Works
When you opt for this rider, you choose a predefined sum assured. If you are diagnosed with a covered illness, the insurer pays the full amount in one lump sum. The payout can be used for treatment, recovery, income replacement, debt repayment, or even lifestyle adjustments.
Most riders specify a waiting period and a survival period. The waiting period means the illness must be diagnosed after a certain number of days from the policy start date. The survival period requires you to survive for a specific number of days after diagnosis for the claim to be valid.
Key Features of a Critical Illness Rider
Here are some of the key features of a critical illness rider:
Lump Sum Benefit
The most important feature is the lump sum payout. You are not restricted to medical usage. This flexibility allows you to handle non-medical costs that often arise during long-term illness.
Coverage for Major Illnesses
Critical Illness Riders usually cover life-altering conditions such as cancer, heart attack, stroke, kidney failure and major organ transplants. The exact list varies across insurers, so reviewing covered conditions is essential.
One-Time Claim Structure
In most cases, once a claim is paid, the rider terminates. This is because it is designed to address high-impact illnesses rather than recurring medical needs.
Affordable Premium
Since it is an add-on, the premium is lower than that of standalone critical health insurance plans. This makes it a cost-effective way to enhance your existing health insurance policy.
No Hospitalisation Requirement
You don’t need to be hospitalised to receive the benefit. Diagnosis alone is enough to avail the benefits. But ensure that all the policy conditions are met.
Income Protection Support
During critical illness, loss of income can be more damaging than medical bills. The rider helps bridge this gap by offering financial stability when you need it most.
Who Should Consider a Critical Illness Rider
If you have dependents, loans or limited savings, this rider adds meaningful protection. It is also relevant if your employer-provided health insurance policy focuses mainly on hospitalisation and lacks income replacement support.
Conclusion
A Critical Illness rider strengthens your health insurance policy by covering financial gaps that regular medical coverage often ignores. It gives you control, flexibility and immediate support during serious health events. Before choosing one, review the list of covered illnesses, waiting periods and claim conditions carefully. When structured correctly, this rider can protect not just your health expenses but also your financial stability during challenging times.
