'Benefits matter while buying insurance'

Also the service provided by the insurance company should also be kept in mind while purchasing a policy, he added.

Speaking at press conference at Hotel Metropole here recently, Subrahmanyam said that
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Bharti Axa offers various products such as Smart Health Insurance Policy, Critical Illness Policy, Smart Health-High Deductible Insurance Policy and Hospital Cash Cover.

Furthermore,  he said that the health segment has become significant for Bharti Axa with an average growth of over 26 per cent for the  financial year 2009-10.

 He said that the health market accounts for 23 per cent of total non-life business, second only to motor insurance.

Low in rural areas

However, he said that penetration of health insurance is rural areas is relatively low. While India ranks 136th on insurance penetration levels, Subrahmanyam observed that during the next 10 years the country would  rank among the top five-six in terms of insurance markets.

Subrahmanyam said that the company has sold nearly 5,40,000 policies till date since its inception in 21008 and has settled nearly 58,000 claims.