Insurance

What Should You Consider While Buying Health Insurance for Parents?

Health is precious and taking care of it is vital. If you avoid your health now, it might take a toll on you in the future. Protecting yourself from life-threatening diseases is not as easy as you might assume it to be. Especially as you grow old, your medical expendituresincrease. Therefore, elderly people need more medical attention. Hence, insurance companies have come up with health insurance for senior citizensthat provides protection for a variety of medical conditions that might affect older people.

Keep in mind the following points while purchasing a Health Insuranceplan for parents:

  1. If your insurance company is providing you with a high sum assured, then it will prove to be beneficial for you. If a good amount is offered, then majority of costs required for treatment of your parents will get covered under the policy.
  2. Always check if your insurance company is providing you with a large hospital network. Cashless facility can be of use during medical emergencies. Therefore, it is better to have network hospitals in your vicinity.
  3. Go for a health insurance for senior citizens that provides you with a high entry age. Also, check if they will provide you with guaranteed renewal. Also, the premium amount will be directly proportional to your age.
  4. Finally, go for a policy that offers you good coverage and protects you against all diseases as well as serious medical illnesses,including pre-existing conditions as well. Also, check if the waiting period for the same is low.

Given below are steps to guide you to purchase Health Insurance for Parents:

 Once you’re done analyzing your requirements, compare multiple policies online and finally opt for a policy that best suits your needs.

  1. Make sure you provide accurate details about your parents, including their medical history as well as their personal information. If you don’t do so, there are chances of your claim getting rejected or even policy cancellation.
  2. When you’re done submitting the documents, the doctors in-charge will look into the information mentioned in the form. You will be asked to run a few tests so the medical conditions you’vementioned in the form are proven right.
  3. Lastly, you must pay the premium after the verification process is done. Also, go through the terms and conditions mentioned in your policy document carefully so you know what you’re getting into.

Benefits of purchasing a Senior Citizen or Parents’ Health Insurance Plan

  • You can avail tax benefits against the premium you pay for the health insurance under Section 80D of the Income Tax Act, 1961
  • Most insurers also provide full-body check-ups
  • Well-reputed insurance companies will have a large network of hospitals that provide cashless facilities
  • Pre- as well as post-hospitalization expenses are taken care of
  • A family health insuranceplan covers ambulance charges as well as domiciliary hospitalization charges

 What is not included in Health Insurance Plans for Parents

  • Expenses required to treat cases of drug abuse
  • Expenses for injuries caused as a result of self-harm
  • Pre-existing diseases till the waiting period is over

You can purchase an ideal health insurance plan for parents online by simply visiting the insurance company’s website. The steps of purchasing the plan aren’tdifficult andthe details for the same are mentioned on the website itself. Evaluate the various types of health insurance plans available and choose the one that fulfils their needs best. In case of any queries, you can directly contact the insurance company’s helpline.

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