Aditya Birla Health Insurance’s – ‘Indian Parental Care Survey’
‘Indian parents and children have varied views on health & well-being’, reveals
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 that increasing geographical distance between parents and children is adding to health-related concerns in Indian families.
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.
Almost 86% of Indian children feel concerned about their parent’s well-being and 60% of children shared that their parents do not take much effort to keep themselves fit. As opposed to the findings from children respondents, 59% of parents said that they walk regularly to keep themselves fit, 30% are involved in doing household chores and 18%practiced yoga or workout.
Commenting on this survey, Mr. 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 a parent’s health and wellbeing. The Indian Parental Care Survey provides a unique insight into 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 provide for their needs”.
Although the study brings forward differing views of parents and children on health wellbeing, 54% of Indian parents still miss their children while going for a routine health check-up. Merely 33% of Indian parents go for routine health check-ups once every six months.
On asking, how the children are dealing with their concerns? 65% of children living away said that they would first turn to friends and neighbors in a medical emergency. 11% of children said that they would reach to their parents as early as possible. Whereas, more than 50% of parents admit that their children may not necessarily be able to attend to them personally.
Interestingly, when it comes to financial considerations – while, 71% of children expressed the intention to make provisions for their parents’ medical contingencies, only 28% are prepared to purchase senior citizen health insurance cover for them. According to the research, 47% of the respondents have done financial planning for their parents’ medical emergencies and necessities. The most common form being cash left behind for emergencies and a debit card for use in such situations.
Aditya Birla Health Insurance’s‘Indian Parental Care Survey’ conducted among 2000 people, featuring Parents (998 respondents) – Men and women in the two age categories of 60-65 years & 66-70 years with at least one offspring/children living away. And Off-springs (Adults) (1002 respondents) – Earning men and women in the age group of 30-36 years & 37-45 years with at least one surviving parent and living far away.
The survey brought to fore the needs that have emerged from changing lifestyles, modern parent-children relationship and the gap that exists in parental care and the support children require to meet their concerns.
About Aditya Birla Health Insurance Co. Limited, an Aditya Birla Capital Limited company
Aditya Birla Health Insurance Co. Limited (ABHICL), a subsidiary of Aditya Birla Capital Ltd. (ABCL), is a joint venture between Aditya Birla Group and MMI Holdings of South Africa. ABHICL was incorporated in 2015 wherein Aditya Birla Capital Limited (ABCL) and MMI Strategic Investments (Pty) Ltd. hold 51% and 49% shares respectively. ABHICL commenced its operations in October 2016 and is engaged in the business of health insurance. The company’s current product portfolio includes unique offerings including chronic care and incentivized wellness.
As on H1 FY19-20 end, ABHICL recorded a gross premium income of Rs. 318.7 Cr has covered more than 5+ Mn lives. ABHICL has nation-wide distribution presence in over 1200+ cities through branches and partner offices, 10 bancassurance partners and over 22,500+ direct selling agents.