To improve awareness about and access to the availability of senior care services and products, Star Union Dai-ichi Life Insurance (SUD Life), one of India’s fastest growing and prominent life insurance providers in India has joined hands with Antara Senior Care – India’s only fully integrated senior care ecosystem. The tie-up takes an integrated approach towards senior wellness and financial literacy with the initiative set to culminate in the launch of specialised financial products for seniors.
According to The Longitudinal Ageing Study of India (LASI) 2021 report by the Ministry of Health & Family Welfare, only 28% seniors are aware of any concessions, schemes or benefits available for them, a mere 18% are covered by health insurance, and 78% live without pension cover. The fact that ~70% seniors are completely dependent on family and relatives for everyday needs despite various government schemes and emerging private sector solutions underlines the need for initiatives to further awareness about age-care services. The SUD Life-Antara partnership is a decisive step in that direction.
Mr. Abhay Tewari, MD & CEO, Star Union Dai-ichi Life Insurance, said, “We are delighted to partner with Antara to deliver a structured and holistic approach to senior citizen well-being, integrating financial security with overall wellness. At its core, this initiative is about helping people understand their choices and plan with more confidence. As longevity increases, such integrated solutions will play a critical role in helping individuals plan with confidence for the years ahead.”
Ishaan Khanna, CEO, Antara Assisted Care Services, said, “We are pleased to collaborate with Star Union Dai-ichi Life Insurance to promote well-informed, proactive ageing, enabling seniors to lead healthier, more independent lives. Backed by the Max Group’s legacy in healthcare and the experience of developing one of India’s most comprehensive senior care ecosystems, Antara is uniquely positioned to help SUD Life Insurance customers and their families understand various facets of holistic wellness to secure their future.”
SUD Life, in its commitment to serving India’s senior community and the entire population at large, has partnered with Antara, India’s fully integrated senior care ecosystem, to deliver digital-first, information-rich communication for customers and employees. Leveraging Antara’s expertise from serving over 5 lakh seniors across residences, NABH-accredited Care Homes, and its D2C wellness platform AGEasy, this collaboration will drive awareness on the different types of care needed through various phases of ageing. Antara experts will lead webinars and on-ground engagements, while SUD Life insurance specialists have curated exclusive financial products tailored for Antara’s customers, equipping seniors and their families with holistic solutions for health and financial security.
India is at the cusp of a significant demographic shift. According to the JLL-ASLI 2024 report, the country’s senior population is poised to more than double from 156.7 million in 2024 to 347 million by 2050. UNFPA data projects that the population of people aged 80+ in India will grow by approximately 279% between 2022 and 2050, bringing with it complex challenges be they financial or care related. Addressing these requires integrated, scalable solutions that go beyond healthcare alone – a gap addressed by this tie-up between SUD Life and Antara Senior Care.
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