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Business News/ News / India/  Luxury items vs health insurance: Here's what youth is willing to sacrifice
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Luxury items vs health insurance: Here's what youth is willing to sacrifice

50% of respondents aged between 18-24 are prepared for medical emergencies financially

Financial Awareness DayPremium
Financial Awareness Day

An interesting trend is seen among Indian youth when it comes to taking prudent financial decisions. On Financial awareness day, Aditya Birla Health Insurance released a report showcasing trends in health and insurance understanding among Indian adults.

As per the report, nearly half of the respondents (50%) aged between 18-24 are prepared for medical emergencies financially. 85% of respondents between (18-25) are ready to consider cutting down on some luxury items to spend more time on health insurance.

Aditya Birla Health Insurance conducted the survey in 19 cities and interviewed 6,651 respondents. The survey reported that 80% of respondents aged between 25-34 actively seek an employer that ensures family medical expenses while over 89% of respondents across all age groups belive mental health should be included in the policy.

The stigma regarding mental health still exists among the youth as per the survey. More than 69% of the respondents between 24-44 are still hesitant about visiting a mental health expert. However, more than 33% aged between 25-34 reached out to medical experts/professionals for mental health issues such as stress or loneliness.

The survey also revealed that today's generation is also concerned about their diet plans and health. As many as 69% of respondents have been consistent about the diet plan and more than 75% have downloaded apps or did research to record their diet plan, nutrition, and exercise regime.

More than 83% of the respondents across all age groups (18-45) believe their awareness of health and wellness-related issues has increased. Further 68% of respondents have been consistent about their exercise regime.

More than 80% of the respondents between (25-34) belive that over exposure to screens, their physical interaction with the family has suffered.

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Published: 25 Apr 2023, 01:41 PM IST
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