Retirement signals the end of the working phase of life and the start of another more relaxed one. Depending on your perspective, it may be a time to explore new avenues to live in or simply lead a quiet life in your own city. For retirees, moving to a new city may become necessary due to medical or lifestyle reasons. Given the congestion and high cost of living in major metros, you may explore cheaper alternatives. The soaring cost of healthcare may also be a driving factor.

Before you decide to relocate to a new city, here are some of the key things to make note of:

Consider your medical history:

As you age, your susceptibility to disease increases. If you already have a history of illnesses like hypertension, cardiac conditions, etc., consult your doctor about what long term treatment for the same would entail. Finding a suitable healthcare provider in your new city is also important. In addition, the costs of routine dental and eye check-ups also need to be considered.
By making an educated estimate of the healthcare you are likely to need during retirement, you can build adequate financial reserves for a medical emergency.

Quality vs affordability:

While India’s metros boast of a number of super speciality hospitals, their costs of treatment are likely to be prohibitive. It is advisable to do a thorough cost versus quality analysis in terms of available healthcare options. To put matters into perspective, an angioplasty in a mid-tier hospital can cost up to 25% less than a top-tier hospital, all costs included.
Also check whether rehabilitation services such as physiotherapy are part of the hospitals’ offerings

Adequate health insurance:

Before you move to another city, review your existing health insurance cover. A comprehensive health insurance can reduce out to pocket expenses to a large extent and give you greater control over your finances. A critical illness plan that provides a lump sum amount if you’re diagnosed with a specified disease is also essential.

If your cover is inadequate for the premium you pay, you can port your health insurance policy to another provider than does provide value for your money. Benefits such as cashless hospitalization and daily cash allowance are worth paying a premium for. In terms of cost-effectiveness, a floater plan has a distinct advantage over individual health insurance plans.

Ease of accessibility:

If you plan to live in a rural or semi-urban area, ensure that major primary healthcare centres and ambulance services are located within a reasonable distance from your home.

Click here to plan your retirement goals.


The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.

Trending Articles

Article Links

How to Retire at 40

Life After Retirement

Retirement Age

Retirement Corpus

Retirement Planning

Latest Articles


How Do Retirement Plans Work in India?

Read More
Posted on 10 February 2020

3 Key Mistakes to Avoid While Planning Your Retirement

Read More
Posted on 08 February 2020

VRS Calculation - How It Works

Read More
Posted on 08 February 2020