Only 18% senior citizens have health insurance

A survey by Aditya Birla Health Insurance of nearly 1,000 senior citizens has revealed that 18% of the elderly have health insurance cover.

The Indian Parental Care Survey 2019 was conducted among 998 senior citizens in the 60-70 age group, and 1,002 offspring in the 30-45 age group, in 10 cities.

The findings also reveal that 42% of the respondents sometimes feel insecure about financial matters.

When asked who helps them with finances in medical emergencies:

• nearly 26% of them are helped by their adult children.
• 32% are in full control of their own finances, keeping money handy for an emergency.
• 10% seek help from neighbours.
• 14% say relatives and friends help out many times.

When asked whether they have made financial plans for medical emergencies for their parents:

• 47% say, “Yes, I have made provisions.“
• 24% say, “Not yet, but I will make provisions soon.”
• 17% do not feel the need to do so as their parents are financially stable.

Source: Asia Insurance Review