70 per cent of Gen Z confident in health insurance but only 25 per cent understand term plans well

A nationwide survey by Policybazaar has revealed stark generational differences in how Indians approach insurance—highlighting growing confidence, early adoption, and a digital-first mindset among Gen Z (aged 18-28), in contrast to more responsibility-driven choices by Millennials (29 and above).

- STATESMAN NEWS SERVICE

The survey highlighted that despite their younger age, Gen Z respondents reported higher confidence in understanding health insurance. Around 70 per cent of them expressed confidence, with 32 per cent claiming to be "very confident." This is marginally higher than the 67 per cent recorded among Millennials.

However, the pattern reversed for term insurance. Only 25 per cent of Gen Z said they were very confident in understanding term plans, compared to 45 per cent of Millennials. Experts suggest that the difference may stem from age-linked responsibilities such as family care, home loans, and long-term financial commitments that typically influence Millennials' term insurance choices, the survey noted.