Health insurance has been acknowledged by researchers as a valuable tool in health financing. In spite its significance, a subscription paralysis has been observed in India for this product. People who possess the economic capacity to afford health insurance products have also been found to be either ignorant or aversive towards it. The present study is designed to investigate three aspects—socio-economic factors, individual health insurance perception and individual behavioural traits—in order to clarify the paradoxes that inhibit people from subscribing to this product. We find that these factors have a significant impact on an individual’s insurance status.
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