Health insurance is a necessity, not a luxury
In this insightful Gen S Life video, financial expert Roopa Venkatkrishnan explains how to buy health insurance wisely without draining your savings.
She begins by highlighting the reality of rising health insurance premiums, especially for seniors. Premiums are naturally higher for older individuals because the risk for insurers increases with age they are more likely to need medical care. Roopa emphasizes that paying premiums should never be viewed as optional; skipping them could mean paying hospital bills worth ₹10–15 lakh entirely out of pocket.
The video also addresses a key question many people after 60 face “Should I continue my term insurance?” According to Roopa, this depends on your current financial dependencies and life stage. Term insurance is initially taken to protect dependents when you’re the main earner to cover expenses, EMIs, or children’s education. However, if all your major commitments are complete and you have built a sufficient savings corpus, continuing the term plan may no longer be necessary.
For those still supporting a spouse, disabled child, or dependent family member, maintaining the policy is advisable.
Through Gen S Life’s expert-driven finance videos, viewers gain clarity on crucial money decisions for senior life from insurance to investments.
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