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Last Updated : Jul 09, 2020 03:11 PM IST | Source: Moneycontrol.com

Personal Finance Classroom S2E2: Why every millennial must have insurance?

In Episode 2, our social media editor Raksha Bihani spoke to Moneycontrol’s personal finance editor, Kayezad E Adajania, to gain clarity on why insurance is so important, even for the millennial

Moneycontrol PF Team

What’s the most important lesson we have all learnt from this COVID-19 pandemic?

Our health is wealth. The virus is unpredictable and it spreads just as fast. We can only protect ourselves so much with social distancing and wearing masks and so on. But how can we protect ourselves from the financial damage from hospitalisation, if we fall sick? That’s where health insurance comes in.

You could be just fresh out of college or into your first job, or perhaps even in the second or third one. You’re looking to make pots of money. You have financial and social goals.

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In Season 2 of the personal finance classroom, we tell you all about managing money during COVID-19 times. But before we talk money, we must build a strong foundation. In Episode 1, we spoke about how fresh graduates should approach the job scene. What should you do if your job offer has been taken back or you have to settle for a lower-than-previously-negotiated salary?

In Episode 2, our social media editor Raksha Bihani spoke to Moneycontrol’s personal finance editor, Kayezad E Adajania, to gain clarity on why insurance is so important, even for the millennial.

At their age, the millennial is best placed to buy an insurance policy as premiums are at their lowest when bought early on in life. What’s more, millennials also have good health to boast of at that age and that makes it easier to secure a health insurance policy.

 
First Published on Jul 6, 2020 04:07 pm
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