For many Indian families, buying health insurance for parents is seen as a critical step in financial planning. It offers protection against large, unexpected hospital bills and provides a sense of security during medical emergencies. But as India’s population ages, a growing reality is becoming harder to ignore: health insurance covers only a small part of the true cost of ageing.
According to Prashanth Reddy, Founder & MD of Anvayaa, health insurance works best during acute medical events such as hospitalisation or surgery, where expenses are sudden and high. However, the support often ends once the hospital stay is over—leaving families to manage a wide range of ongoing, non-hospital costs on their own.