‘Financial Preparedness and Health Consciousness Higher Among Kochi Parents’

KOCHI:
A recent survey commissioned by Aditya Birla Health Insurance Co. Limited (ABHICL), the health insurance subsidiary of Aditya Birla Capital Limited (ABCL), a significant non-bank financial services’ conglomerate, reveals 53% parents from Kochi are financially secured as compared to 37% nationally. Almost 49% claimed that they are in full control of their finances or keep good amount handy for medical emergency.

The survey which was conducted across 10 cities (METRO & Tier I) further deep dived into relationships, communication and emotional anxiety amongst several family generations living in separate locations. Despite modern technology that enables unprecedented levels of inter- generational connectivity; Indian children continue to feel anxious about their parent’s health while living away from them.

Kerala has a big and ever-growing share of geriatric population. As per the Census 2011, Kerala has got over 42 lakh senior citizens. They constitute about 8.6% of the total population. In spite of being consciously aware and financially independent, only 42% parents from Kochi have safeguarded themselves with a health insurance policy whereas 23% have stated that they do not have a policy owing to high premiums. After Lucknow, Kochi is the only place with least percentage of about 19% of adult children to have bought a health cover for their parents. 58% of adult children of Kochi heavily rely on leaving cash at home for their parents to deal with medical emergencies in their absence, which is the second highest after Delhi.

When questioned about their health and fitness, nearly 71% of the parent respondents from Kochi mentioned that they regularly walk or practice yoga to keep themselves fit. Almost 39% parents also stated that they are careful about their eating habits and avoid unhealthy food. Around 39% of parents eat healthy and avoid food that can affect their wellbeing as compared to 22% nationally. About 48% of Kochi’s parents regularly take tonics/ health drinks, supplements as prescribed by their doctor. Almost, 44% Kochi children have admitted that their parents are utmost careful of their food and avoid food which will affect their health. Nearly half of the respondents (43%) mentioned that they go for health check-ups every 6 months, in order to ensure good health and well-being.

Commenting on this survey, Mayank Bathwal, CEO, ABHICL said, “These days many youngsters leave their parental homes, to build a career and for their growing professional aspirations. However, there is a constant sense of concern towards parent’s health and wellbeing. The Indian Parental Care Survey 2019 provides a unique insight on the rising concern of parental health and wellbeing among children living away. As a caregiver to my parents, I understand how big a priority this is and being able to provision for their needs”.

The survey brought to fore the needs that have emerged from changing lifestyle, modern parent – children relationship and the gap that exists in parental care and the support children require to meet their concerns.