Which is the best Health Insurance for my Parents?
Which Is The Best Health Insurance For My Parents? Parents put in a lot of hard work to bring us up and make us the individual we are today. They’ve invested their time, finances and efforts just to nurture us throughout their lives. By passing time they grow old and need care and affection. It’s our duty to look after them, especially when they are unwell. With growing age, their immunity slows down leading to multiple medical issues. Inflating medical costs, doctor fees and treatment expenses may leave a dent in your savings. For timely treatment and medical check-ups, it’s advisable to opt for health insurance plan.
There, our parents are also get covered. We have to pay the premium of our parents. Because it’s our responsibility, also we will get the tax benefits on their premium. Normally the age is about 60 above of our parents.
There are so many chances to need some kind of treatment. The cost of it is also may high. So we should take, choose a perfect plan for it. So I will explain a plan.
Some of the insurers offer plans exclusively designed for senior citizens. Here are few popular plans for the older age group people. Please note that there are many other plans offered by different companies.
1) Aditya Birla Health Insurance Co. Ltd.
2) Religare Health Health Co. Ltd.
3) Bajaj Allianz GIC Ltd.
4) Kotak GIC Ltd.
5) Kotak Life Insurance Co. Ltd.
6) Aviva Life Insurance Co. Ltd.
7) Max Life Insurance Co. Ltd.
8) SHRIRAM GIC.
9) ICICI Prudential Life insurance co. Ltd.
10) HDFC Life Insurance Co. Ltd.
11) HDFC Ergo GIC Ltd.
12) Canara HSBC OBC Life Insurance Co. Ltd.
13) Future Generali GIC Ltd.
14) Universal Sompo General Insurance Co. Ltd.
Please take a look at the features:
- Entry age is up to 80.
- Revival is guaranteed.
- Tax savings U/S 80D
- You can be a proposer for your parents.
- It can be a single person or for a family floater.
- Pre-existing diseases can covers after 3 years continues the policy.
- Blood pressure
- Cholesterol. (ABCD) are covered.
- Diabetes can also get covered after 90 days only.
- You will get 13000 to 18000 for daily medicines in a year.
- Organ donor cover is available.
- Only 20% co-payment for above 61 age. Health check-up is free for every one of a policyholder.
- No claim bonus is too high.
- There are 1′ 2′ 3 years options available, so you can get a discussion
- Room rent and the ICU rent is sufficient.
- Cashless claims at net worth and in-house treatment.
- The company is very aggressive towards service.
- The brand itself is too big.
- Coverage you can take maximum.
- The premium is very low.
- No restrictions on hospital expenses such as room rent, doctor fees, and medical costs.
- No entry age restriction
- Lifelong renewability
- Free health check-ups on completing 4 claim-free years
- Massive chain of 6000+ network hospitals for cashless treatment
- Tax savings to Rupees 60,000 under Section 80D of the Income Tax Act
- Minimum Documentation
- 10% discount if one opts for two-year policy tenure
- 10% discount for more than 2 family members on an individual Sum Insured basis
- Avail 5% Cumulative Bonus at the end of each claim-free year
- Add-ons are available to suit individual needs
- Hassle-free claim settlement procedure.
Health insurance plans ensure you against unexpected medical emergencies and keep your family’s finances stable during such a testing time. Keeping in mind the rising medical costs and a spurt of diseases buying a health insurance is mandatory. You can opt for a health insurance plan that suits you and your family but before opting you should always know the reasons for buying a health insurance plan.
Here are few reasons to buy health insurance:
- Better Financial and Health Care Planning
Accidents and medical emergency can happen without warning and a good health policy. It is tough to compute how much you will spend on health care in a year but having health insurance plan helps you to pay for sudden medical costs. You can also buy a family health plan that will cover the entire family. Usually, these family plans are much cheaper than having multiple individual health plans.
Insurance companies provide a wide range of products to satisfy all kinds of requirements. Many health insurance companies are increasingly offering family floater policies which provide cover to the entire family under a single umbrella. As a result, family members share the sum assured and can, therefore, avail of the benefit in case of any untoward occurrence within the policy term.
- Maternity cover
In this day and age, several health insurance providers are offering maternity cover as opposed to traditional insurance companies. Major companies even provide cover for vaccination expenses of the new-born.
- Cashless hospitalization services
Several leading insurance providers have a network of hospitals which can offer cashless hospitalization services for the benefit of customers. Customers, therefore, do not have to unduly worry about immediate cash requirements in case of any emergencies. In several cases, the third-party administrators pay the bill to the hospital or institute.
Generally, people up to the age of 60 to 65 can get Mediclaim or Health Insurance. Premium is generally proportional to the age. But many companies are hesitant to give policies to people who are around 60 years or more.
There are many companies in India which offer best health insurance policies. However, its advisable to look for insurances policies online as you can opt for the best policy as per your choice and requirements. You can also compare policies online.
There are many effective health insurance plans, but the thing is that it should go well with your needs. For the same, visit an online insurance web aggregator, take advantage of free quotes, compare their price, features, inclusions, and exclusions as well. With it, you will be able to get the best plan that can suit your requirements.health insurance for parents, parents health insurance, parental insurance policy, parents health insurance India.
Assuming that your parents are around 60 years of age, I would advise you to take a Mediclaim policy. Policy can be taken through www.PolicyPlanner.com online.