Health insurance policies are designed to help you and your loved ones meet the increasing cost of hospitalization. If your parents are up to 55 years old you can buy a normal health insurance plan that offers coverage to people of their age. Whereas there are senior citizen health insurance plans, which provide necessary financial aid to people who are 60 years of age and above.
Health insurance for parents/senior citizens is provided by various insurance companies in India. Your parents must have the best health insurance in India that covers most of the health risks associated with their growing age.
Simply put, a good health insurance policy for your parents must include critical illness cover, coverage to pre-existing diseases like diabetes or blood pressure, cashless hospitalisation, organ donor transplantation (if possible) and a higher sum assured.
Health Insurance Cover is a Good Gesture for your Parents
By gifting a health insurance policy to your parents, you can showcase your gratitude to your parents. They did everything possible to give you a good life. Now it’s time to return the favour in the form of health insurance. Bless them with a stress-free and secured future where they don’t need to worry about their medical treatment. Make them feel secured and provide them with the best medical facilities available in India. All this is achievable with a health Insurance Scheme that offers coverage to people above 55 to 60 Years of Age.
Below are the reasons why it is important:
- You can provide the best medical treatment to your parents along with tax-saving benefits
- Provides peace of mind in case of unforeseen illness or hospitalization
- Reimbursement of medical expenses
- Treatment across a host of hospitals all over India
And one of the most important factors is that your parents will be able to enjoy their golden years without worrying about healthcare expenses. Anyone who loves their parents, nothing could be more satisfying than this.
8 Important Things you should look for to buy medical insurance for your parents
There are a plethora of options available online if you search for Health insurance India for your parents, like Star Health Senior Citizen Red Carpet Plan, Religare Care Freedom, Max Bupa Heartbeat Plan, and many others. But you can choose a plan based on the following criteria to make sure it serves your purpose:
1. Health Insurance Features – Check what is covered and what is not covered carefully.
To read the in detail download the policy wordings and choose the plan that is
Offering maximum coverage within your budget. Choose a plan that covers exorbitant
Treatments like dialysis, chemotherapy, kidney failure etc.
2. Select the one offering Minimum Waiting Period – If you want to choose the best medical insurance in India for your parents, then it is recommended to go with a plan that comes with a minimum waiting period. This is important to cover their pre-existing diseases without waiting for longer or when the emergency strikes.
3. Opt for an Adequate Coverage Amount – Healthcare is becoming expensive day by day. For a smooth medical treatment go for a sum assured that provides maximum cover to both. E.g. a policy of 7 lakhs may not be very expensive in comparison to an Rs. 10 lakh health insurance. So, it’s better to choose the higher limit. But this is subjective to your budget.
4. Pre-medical check-ups- it is mandatory after 45 years of age. But certain providers do not ask for it. So, you can always cross-check if you do not want the insurer to deny your parents based on their pre-existing medical conditions.
5. Age of Renew-ability–
Usually, all the health insurance companies in India deny renewal after a certain specific age. At the time of choosing a policy, pick the one that offers lifelong renewability.
6. Check if the illnesses on your priority list are covered – With increasing age the odds of getting diagnosed with cardiovascular diseases, diabetes, etc. are higher. While choosing a plan, make sure that these specific diseases are covered.
7. Choose a policy with the lowest Co-pay clause- If you want the insurance premium to be affordable, co-payment plays a big role. For your ageing parents, this co-pay amount might be on a higher side and it is mandatory to pay it as part of the policy. Check for a policy that offers the lowest possible co-pay.
8. Choose a policy with No-claim Bonus – It is the discount that you get on your insurance premium for all the years that you haven’t claimed. So, choose a policy that offers a no-claim bonus, as this may help you reduce the cost of the premium.
Some General Inclusions to Check Out
While purchasing a health policy for your parents, here is a ready reckoner of the features and benefits that are usually offered in most of the plans:
- Hospitalization Cover- Room rent charges including doctor fees, hospital registration,
- of surgical appliances, pacemaker, organ transplant, medicines, drugs, etc.
- Pre and post hospitalization expenses are also covered (up to a specified limit)
- Day-care expenses which arise from the use of special types of equipment or procedures like chemotherapy, dialysis, etc.
- Ambulance charges for transporting the insured subject to the maximum limit
- Daily hospitalization allowance
- Cashless treatment in-network hospitals
- Pre-existing diseases to be covered after completion of waiting period 1-4 years
Long story short,
If your parents are growing old and you want to ensure that they get the best medical treatment with the right health insurance plan, then you are on the right page! Make it safe, easy and secured for your parents as well as yourself, by choosing from one of best medical insurance policy in India bases the factors mentioned above. You can visit this website to get more information about nutrition. Adequate insurance cover would help to ward off financial worries related to medical treatments and hospitalization expenses. There are several policies from different insurance companies, you can pick the most suitable one, to keep yourself and your parents protected from any unforeseen healthcare emergencies.
