Page 40 - The Insurance Times May 2021

HEALTH INSURANCE

SCHEMES TO GEN-S

(SILVER-LINE):

DARKNESS IN THE

TWILIGHT YEARS

O f late, human lives are fraught with increased system used to provide an excellent support structure with

incidence of health ailments on account of
a philosophy "One for All and All for One". However, the joint
routine and sedentary lifestyles. Though there is
family system is moving to Nuclear families on account of
considerable improvement in medical technology
in addressing the health emergencies, the associated costs increased pace of relocation of people within the region,
across the states and even abroad in pursuit of employment,
for treatment are also on the rise. Any hospitalisation career opportunities and improved livelihood. Though the
without health insurance potentially creates a financial children love their parents and wish to take care of their
`tsunami` in the family thereby causing mental anguish and requirements, they find it difficult to manage their financial
stress. Thus, protecting self and loved ones from any health resources on account of increased living costs, health and
eventuality is a must by choosing an appropriate health education expenses. Truly, these factors shattered the long-
insurance plan. "Health is Wealth" is what we know. It is established system and had adverse impact on Gen-S
being realised, going forward, that health requires a lot of segment.
wealth.
In the above backdrop, most of the senior citizens are living
Life is full of uncertainties but 'Aging' is certain and we have independently with little or no support from their children/
to live with the age-related ailments with the support of family members. The increased medical expenses have
family members. In the past, our traditional Joint Family become a burden on the weak purse strings of Gen-S as their
sources of income is limited mostly pension and interest
income. Thus, this segment is looking for formal health care
About the author service providers and also opting for Health Insurance
Schemes to meet their present and future medical needs
NSN Reddy
to lead their lives independently, peacefully and gracefully.
Retired Executive
Andhra Bank
As per the census, around 11 crore people (8.30% of the
40 The Insurance Times, May 2021