The day provides an opportunity to show appreciation towards senior citizens for their dedication, accomplishments, and services they give throughout their lives.
In India, there are around 150 million Senior Citizens and more than 65% are dependent on their children or look for the old-age home or government assistance. Besides food & shelter, another important component is the health of elderly & so health insurance at this age is imperative because of the high medical costs and high morbidity rate.
The share of health insurance policies bought by the senior citizen category in the age-group of 6080 years stood at 15 percent, between April 2020 and December 2020, according to a report by one of the leading insurance marketplaces. On the other hand, the share for the younger lot in the age bracket of 18-40 years between the same period was found to be 45 percent, the report said.
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