Get health insurance — for you, and for your parents

This one’s short on purpose, because the message is simple: if you don’t already have health insurance — for yourself, and separately for your parents — get it. Soon.

Why it matters more now

Healthcare costs have been climbing faster than most people realise, and a single hospitalisation can wipe out months (or years) of savings in a few days. Most of us in our 20s feel invincible — until we’re not, or until it’s a parent who needs care.

Why “now,” specifically

• Premiums are cheaper when you’re younger and healthier. The same cover costs more every year you wait, and a new health condition later can make it harder (or pricier) to get covered at all.
• Your parents’ cover can’t wait for “later.” Premiums for older age groups are significantly higher, and pre-existing conditions can limit what’s covered — the earlier you get them insured, the better the terms lock in.
• One bad year can undo years of saving. That SIP you just started? A medical emergency without insurance can wipe it out overnight. Insurance is what protects the rest of your financial plan.

What we’d tell a friend

You don’t need the most expensive plan — you need a plan, in place, before you need it. Start with a basic individual or family floater for yourself, and a separate senior-citizen plan for your parents if they don’t already have one. Compare a couple of options, read what’s excluded, and get it sorted this month, not “eventually.”

It’s one of those things that feels unnecessary right up until the day it isn’t — and by then, it’s too late to buy it.

General awareness, not financial or insurance advice — compare plans and read the policy terms carefully before buying.