63% of Indian Policyholders Can't Switch Health Plans, Says CoverSure

The analysis also flagged a specific exposure for older policyholders. A majority of those aged 50 and above carry less than ₹5 lakh in sum insured, far below the cost of a single hospitalisation in a tier-1 city. Among policyholders already living with chronic conditions, 17% hold less than ₹5 lakh in coverage. “These are individuals who are statistically more likely to be hospitalised, and yet hold coverage that a single admission in a tier-1 city can wipe out entirely,” the report noted.

Saurabh Vijayvergia, founder and CEO of CoverSure, warned that most policyholders discover these gaps only during a medical event. “Buying insurance is a starting point, not a destination. A policy that was right at 32 may leave someone dangerously underprotected at 35,” he said in the report.

A brighter note came from the younger cohort. Policyholders aged 30 to 40 made up 41% of those analysed, and those under 30 another 10%. The data showed younger policyholders engaging proactively with their existing coverage and questioning whether it is sufficient. The report described that shift as one that, if sustained, could meaningfully change how India's insured population relates to its policies over time.