While Covid-19 has been a cause of a lot of financial dismay for the inhabitants of our country, from losing their jobs to pay cuts it has also made the millennials realize the importance of being healthy and being covered in Medical/ Health Insurance.

Health Insurance Industry is a very salient player in the market selling one of the most crucial must-haves in a person’s financial portfolio. Not because it gives added benefit in terms of taxation yet because it is becoming increasingly important to understand that life after Covid-19 has not remained the same. Cases of heart failures due to anxiety, stress, etc are on the rise and many such critical ailments that were never in light before have risen up becoming a mighty cause of concern.

As much as it is important to get vaccinated to prevent hospitalization, health insurance is equally important to recover from the financial loss that is caused by hospitalization and unforeseen events.

Predominantly, most of the educated millennials are successfully placed in multinational corporates with perks such as life insurance and health insurance for self and family. The need to buy additional cover was seldom in question. However, since the financial turmoil caused by the pandemic and impacting the livelihoods of the millennials, health insurance is now seen as a prerequisite. Corporate health insurance comes in handy only while one is employed with the organisation, post which, the employee is left to fend for himself if not adequately insured causing greater damage.

The year 2020 has acted as a catalyst for the millennials to understand the importance of health insurance such that there has been a sudden surge of approximately 71% from the previous 10% aspiring to buy comprehensive health insurance policies as a consequence of the Covid-19 outbreak.

This ubiquity has but for sure changed the way the parents of Gen-Alpha will look at health and health and insurance from here on.