Health insurance for elderly; luxury gifts: Top personal finance stories

Our newsletter this week has stories on why health premiums for senior citizens are rising and how couples are celebrating Valentine's Day

In recent years, significant increases in health insurance premiums have posed a challenge to senior citizens. To address this, the insurance regulator has introduced a cap, limiting annual premium hikes to 10 per cent. While this measure offers some relief, several other concerns persist. Entry-level premiums for senior citizens remain high, and many proposals continue to face rejection. In this week’s lead story, Sanjay Kumar Singh and Karthik Jerome offer strategies for seniors to overcome these hurdles.   The second article highlights how Valentine’s Day gifting has evolved with a focus on personalisation, experiences, and technology. Modern couples are embracing creative ways to express love while traditional staples like flowers and jewellery remain popular. Read this article by Namrata Kohli to discover fresh ideas that will help you come up with lasting and meaningful expressions of love.   If you are finding it difficult to create a diversified portfolio using multiple funds, go for a multicap fund. These funds are mandated to invest at least 10 per cent in minimum three asset classes. If you are looking for an option from this category, look up Morningstar’s review of Nippon India Multicap Fund.   If you are 30 years old and have not yet purchased health insurance, it is high time you did so. In case you contract a disease, obtaining health insurance becomes difficult. Costs also shoot up. Look up Policybazaar’s table to compare the premiums of leading insurers for a Rs 10 lakh sum insured.   Number of the week   $2,848/ounce: Gold’s record-high price   Gold prices reached a record high of $2,848 per ounce in the international market on Wednesday evening. The day before, prices in India surpassed Rs 85,000 per 10 gram for the first time.   Demand for this safe-haven asset has escalated with US President Donald Trump imposing tariffs on Chinese imports and China coming up with retaliatory measures. Tariffs could cause higher domestic inflation in the US.   Central bank purchases have also contributed to buoyant gold prices over the past year. In 2024, they purchased 1,044.6 metric tonnes. Poland, Turkey and India were the leading buyers.   Weakening of the US dollar and lower treasury yields in recent days have also played a part.   Retail investors must maintain a 10-15 per cent allocation to gold in their portfolios. Those who don’t have this level of allocation should buy on dips.