Build a health contingency fund to meet out-of-pocket medical expenses

Talk to any senior citizen and you will be surprised by the huge financial burden they face from health care expenses during their retired life. The average senior citizen couple spends close to Rs 2 lakh on day-to-day health care expenditures every year. 

Growing need: With medical science advancing, we may end up living longer than our parents. However, that could turn into a curse, owing to our sedentary lifestyle. As age advances, we are likely to suffer from chronic lifestyle diseases that may require significantly larger day-to-day health care expenses after the age of 50. This could be a major