Page 23 - The Insurance Times July 2020

Cover Story

HEALTH

INSURANCE

SCHEMES TO

GEN-S (SILVER-

LINE)

Darkness in the Twilight years

O f late, human lives are fraught with increased members. In the past, our traditional Joint Family system used

incidence of health ailments on account of
to provide an excellent support structure with a philosophy
routine and sedentary lifestyles. Though, there
“One for All and All for One”. However, the Joint family system
is considerable improvement in medical
technology in addressing the health emergencies, the is moving to Nuclear families on account of increased pace
of relocation of people within the region, across the states
associated costs for treatment are also on the rise. Any and even abroad in pursuit of employment, career
hospitalisation without health insurance potentially creates opportunities and improved livelihood. Though, the children
a financial `tsunami` in the family thereby causing mental love their parents and wish to take care of their requirements,
anguish and stress. Thus, protecting self and loved ones from they find it difficult to manage their financial resources on
any health eventuality is a must by choosing an appropriate account of increased living costs, health and education
health insurance plan. `Health is Wealth`, is what we know. expenses. Truly, these factors shattered the long-established
It is being realised, going forward, that health requires lot system and had adverse impact on Gen-S segment.
of 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 family members. The increased medical expenses have
become a burden on the weak purse strings of Gen-S as
About the author there sources of income is limited mostly pension and
interest income. Thus, this segment is looking for formal
N S N Reddy health care service providers and also opting for Health
B. Com, CAIIB, PGDBM (NIBM) Insurance Schemes to meet their present and future medical
Asst. General Manager (Retired) needs to lead their lives independently, peacefully and
Andhra Bank
gracefully.
The Insurance Times, July 2020 23