New Delhi, May 7 -- Most of the recent conversations around Bima Sugam, the IRDAI-backed one-stop digital insurance marketplace, have focused on access - simpler purchases, standardised products, and possibly lower costs through zero-commission policies. If executed well, this could reduce the friction in buying and managing insurance.

But for households dealing with ageing parents, this addresses only one part of the financial reality. The more relevant question is not whether insurance is easier to buy, but whether it meaningfully covers the full cost of ageing.

India is already at an inflection point. According to the Longitudinal Ageing Study of India (LASI), about 12% of today's population is elderly, and this is projected to rise ...