India is in the midst of a major flux, and faces challenges at two opposite ends of the generation spectrum. The first is shrinking job opportunities for the youth and the second is the estimated boom in senior citizen population
Health insurance is the first defence against medical expenses in old age. Though high premiums and exclusions are a challenge for seniors, opting for certain combinations and making small adjustments can sweeten the deal. But never trade off comprehensive coverage for lower premiums
In India, most senior citizens are dependent on their family or other for maintenance as the large part of the population does not access any form of pension (see High Dependency Among Seniors). At the same time, many of them suffer from chronic diseases, whose treatment can be costly and unaffordable for the dependent segment (see Threat Of Chronic Diseases). Lack of health insurance and non-hospitalisation expenses (which are, typically not covered by standard health policies) are resulting in high out-of-pocket expenditure and contributing to high indebtedness (see Lack Of Cover Leads To Indebtedness).
The Ayushman Bharat Yojana provides a cover of Rs 5 lakh to those above 70 years, irrespective of their health condition and socio-economic background, but that solves only part of the affordability problem
Vibha Padalkar, MD and CEO of HDFC Life Insurance, talks about why insurance penetration is still low in India, why seniors end up buying the wrong insurance product, the innovations we can expect in the future and how frequent regulatory changes can deter the flow of foreign money in the industry. Edited excerpts from an interview with Nidhi Sinha, Editor, Outlook Money
Wellness benefits in health plans can offer a lot of value. However, the extra cost may outweigh the perks. Assessing their relevance and suitability is important
Health insurance is important, but healthy ageing depends on community support, policies, and opportunities that enable older people to remain purposeful
The advent of artificial intelligence will lead to a shift in the job market where university education and salaried employment will cease to be the norm. The gig economy will be the major job provider. In an interview with Nidhi Sinha, Editor, Outlook Money, Saurabh Mukherjea, founder and CIO of Marcellus Investment Managers, talks about his latest book Breakpoint:The Crisis of the Middle Class and the Future of Work and shares how the changes in the jobs landscape will affect our future investments. Edited excerpts
Sebi’s Common Advertisement Code may rewire your social media feed. Though some gaps may remain, it’s an important step towards regulating financial advice shared on social media
RBI’s new customer protection rules are a step in the right direction, but whether they will prove to be a gamechanger will depend on implementation and whether the regulator is able to plug gaping loopholes
Health insurance is the first defence against medical expenses in old age. Though high premiums and exclusions are a challenge for seniors, opting for certain combinations and making small adjustments can sweeten the deal. But never trade off comprehensive coverage for lower premiums
In India, most senior citizens are dependent on their family or other for maintenance as the large part of the population does not access any form of pension (see High Dependency Among Seniors). At the same time, many of them suffer from chronic diseases, whose treatment can be costly and unaffordable for the dependent segment (see Threat Of Chronic Diseases). Lack of health insurance and non-hospitalisation expenses (which are, typically not covered by standard health policies) are resulting in high out-of-pocket expenditure and contributing to high indebtedness (see Lack Of Cover Leads To Indebtedness).
The Ayushman Bharat Yojana provides a cover of Rs 5 lakh to those above 70 years, irrespective of their health condition and socio-economic background, but that solves only part of the affordability problem
Vibha Padalkar, MD and CEO of HDFC Life Insurance, talks about why insurance penetration is still low in India, why seniors end up buying the wrong insurance product, the innovations we can expect in the future and how frequent regulatory changes can deter the flow of foreign money in the industry. Edited excerpts from an interview with Nidhi Sinha, Editor, Outlook Money
Wellness benefits in health plans can offer a lot of value. However, the extra cost may outweigh the perks. Assessing their relevance and suitability is important
Health insurance is important, but healthy ageing depends on community support, policies, and opportunities that enable older people to remain purposeful
The advent of artificial intelligence will lead to a shift in the job market where university education and salaried employment will cease to be the norm. The gig economy will be the major job provider. In an interview with Nidhi Sinha, Editor, Outlook Money, Saurabh Mukherjea, founder and CIO of Marcellus Investment Managers, talks about his latest book Breakpoint:The Crisis of the Middle Class and the Future of Work and shares how the changes in the jobs landscape will affect our future investments. Edited excerpts
Sebi’s Common Advertisement Code may rewire your social media feed. Though some gaps may remain, it’s an important step towards regulating financial advice shared on social media
RBI’s new customer protection rules are a step in the right direction, but whether they will prove to be a gamechanger will depend on implementation and whether the regulator is able to plug gaping loopholes
UPI users can access their CIBIL score details on their UPI payment app. They can also check their repayment history and active applications
With rising job uncertainty and costs, and easy access to debt, the concept of financial freedom has been redefined. It’s no more about early retirement but a stress-free financial life
Our behaviour is often influenced by how others act, including what we eat or buy. But making your choices based on others’ point of reference could be burdensome
Fraudsters are using technology to pose as senior executives and tricking unsuspecting employees into transferring money. How to stay safe
