Rising interest in mental health insurance but coverage still inadequate, analysts say
AIA says the take-up rate for its insurance plan covering mental health increased by more than 470 per cent year-on-year in the first half of 2021. (File photo: Grace Yeoh). Source: Channel News Asia.
SINGAPORE: Some insurers are seeing an uptick in demand for insurance policies with mental health coverage, but industry analysts say such options are still limited and the coverage usually inadequate.
The Institute of Mental Health said in its most recent study in 2018 that one in seven people in Singapore had experienced a mental disorder in their lifetime. The most common disorders here were major depressive disorder, alcohol abuse and obsessive-compulsive disorder.
About Dr. Zubin J Daruwalla
Dr. Zubin J Daruwalla is a doctorpreneur, surgeon, futurist, thought leader, advisor, mentor, and patient and HealthTech advocate. He has delivered over 100 talks and presentations, including multiple keynotes in more than 12 countries and across 5 continents.