Importance of Insurance in Financial Planning for the Gen Z

The Coronavirus pandemic has been a stunner for young adults who usually assumed to be at low health risk. The pandemic caused us to understand that a deadly virus can affect anyone anytime irrespective of age, and the treatment costs can go through the roof. The young generation can be increasingly falling prey to common health threats such as lifestyle diseases, climate change and pollution-related ailments.

While after the 2nd wave and mainly driven by health awareness, we witnessed significant growth in first-time insurance buyers in this between 25-35 years, it’s time that Gen Z start considering Health insurance purchase as a part of their financial planning to meet their current healthcare requirements and cover future financial loses. Rakesh Jain, CEO of Reliance General Insurance, told why including insurance in financial planning is a must for the Gen Z.


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