Indian Gen Z leads Millennials in health insurance knowledge: survey

Nearly 1 in 3 Indian Gen Zers said they are very confident about their understanding of it.

Gen Zers are outpacing Millennials in understanding health insurance in India, according to a survey by insurance broker Policybazaar.

About 70% of Gen Z respondents — those aged 18–29 years old— expressed confidence in their understanding of health insurance, with 32% saying they are “very confident.”

Millennials— those aged 29 and above— expressed higher confidence levels when it came to term insurance, at 45% compared to the 25% of Gen Z who said that they are very confident of their understanding of term insurance.

Health insurance stood out as the most commonly considered products amongst Gen Z and Millennials, at 61% and 63%, respectively.

Over half or 52% of Gen Z respondents selected 18–25 as the right time for health insurance, compared to only 22% of Millennials.

More Gen Z respondents also indicated a younger age as the right time for term insurance, at 45%, in contrast to the 26% of Millennial respondents.

Youtube emerged as the top source used by Gen Z for research, with 46% indicating that. Meanwhile, 23% of Gen Z also said that they are using generative AI (Gen AI) for research.

Millennials prefer Google searches, with 40% saying this is where they do their research.