Seeing you grow up is a joy and blessing your parents have cherished forever. Now it is your turn to reciprocate for their toils by insuring their health. There can be no greater wealth than the health of your near and dear ones.
Healthcare costs are only rising by the day. You will only end up paying for the huge hospital bills from your hard earned savings if a health emergency pertaining to your parents crop up.
Medical emergencies do not arrive with a knock. The old and the elderly folks are more prone to health emergencies. Buy Health Insurance for your parents and stay worry-free.
There are special Senior Citizen Health Insurance Plans designed specifically for people who are aged 60 years or above. These plans come with basic or comprehensive options with higher sum insured, critical illness cover, cashless hospitalization, pre-existing disease cover and more. Choose a plan that best meets their healthcare goals.
Higher the age, higher is the premium. It is because health risks are higher as age advances. Opt for a policy where premiums are lower.
Policies offered by different insurers may vary in terms of benefits and illnesses covered. Choose one that is the best in terms of benefits and covers maximum illnesses (specifically related to elder age).
Consider the entry age of the healthcare policy you are going to buy for your parents. If the entry age is not low enough but comes with other benefits, it may not be the best for them.
You will certainly want that the mediclaim policy covers your parents for as long as it is possible. When picking a policy, do check the age limit until which the policy can be renewed. It should come with guaranteed renewal till maximum age.
Health insurance for senior citizens comes with numerous clauses. Ensure that it covers certain pre-existing ailments and the exclusion list is smaller.
Normal mediclaim policies may not cover critical illnesses like stroke, cancer, renal failure, coronary artery surgery, etc. These diseases are not only life-threatening but may also take a huge toll on your financial health. Do buy critical illness top-up, which comes at a small price.
Consider the health coverage, i.e. the amount up to which the policy will reimburse expenses. Opt for a policy that comes with a larger sum assured and a host of other benefits.
Buy senior citizen Health Insurance that comes with a wide network of hospitals specializing in a range of treatments. Do ensure that the hospital in your parents’ neighborhood is empanelled with the insurer.
A research online will help you buy the best policy. Visit a one-stop trusted online financial services portal like mymoneymantra.com for more queries on Health Insurance.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
Director- MyMoneyMantra FinTech| A senior retail and commercial banking professional, adept at handling Business Development, Sales Planning & Growth, Product Strategy, Marketing Operations and Client advisory services phygitally.
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