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500M people times $7860/yr is $3.93 trillion (the max possible coverage). But if only $314M is authorized, the average person will receive only 314M/500M, or a
by randcraw 9y ago
500M people times $7860/yr is $3.93 trillion (the max possible coverage). But if only $314M is authorized, the average person will receive only 314M/500M, or about 63 cents.
- shripadk 9y agoThat's not how you calculate when it comes to insurance. You can't divorce life from maths. In your calculations you are assuming 500 million people will all fall ill at the same time and each will claim the full $7860 for the year which is next to impossible. In my opinion, $314 million is more than enough for now unless India is struck by an epidemic.