As your parents age, it becomes your responsibility to make sure that they are healthy and covered under a comprehensive health insurance plan. Health insurance has become indispensable with the lifestyle people follow today. And having covered them with adequate health insurance for parents, you can assure that their life savings are secured.
But, are you getting the best plan for them?
With a plethora of options available in the insurance market, sometimes it becomes difficult to narrow down to the best one.
Senior citizen health insurance aims at offering financial coverage for healthcare to your parents. It doesn’t matter if you are 29 or 40; buying a health insurance plan for your parents is entirely responsible. So, to help you select the best plan for your lifelines, here are some things that you must consider before signing on the dotted line:-
1. Coverage
One of the essential factors that you must check is the range of coverage. Factors like pre-hospitalization, in-patient hospitalization, and post-hospitalization expenses must definitely be covered in the plan. In addition, it must also offer coverage for annual health check-ups, daycare facilities, domiciliary care, etc., to ensure that the insured is fully covered.
Once you acquire a healthcare plan with comprehensive coverage for your parents, you will not have to bear expenses out of your pocket during any medical emergency that may occur at any time in the future.
2. Co-Payment
An important point to look out for is co-payment, which means that there will be an amount that the insured, i.e., you, have to pay for every claim. So, the payment amount from your end must be minimum. So, ensure that the selected insurance provider must charge a minimum co-payment amount.
Care Health Insurance offers a waiver option on co-payment as an add-on under its Care Senior plan. So, if you are looking for health insurance for your parents, who are also senior citizens, you can get the add-on to waive the co-payment clause out of their healthcare plan.
3. Waiting Period
Another thing while looking for a mediclaim policy for parents is the waiting period, especially for pre-existing ailments. Although each insurance provider has its own predefined range, the waiting period for pre-existing diseases is generally four years. So, check the terms & conditions beforehand, so your parents don’t go through any hassle while filing the claim.
4. Check for Sub-Limits
Some plans come with sub-limits, including room rent, ambulance charges, a few treatment procedures, and so on. Make sure to choose the plan that has the most reasonable sub-limits.
In a Nutshell
Nothing is wiser than securing the health of your loved ones with a health insurance plan that ensures their protection in the most challenging times. Besides financial security, your healthcare plan also gives peace of mind as it will back you up when you need financial support the most.
Except for the factors mentioned above, check out the additional benefits that health insurance plans offer, and then select the one that best suits your parents’ needs.
Care for Senior, a health insurance plan by Care Health Insurance, is curated to give a hassle-free treatment experience. As a comprehensive health insurance provider in India, we ensure that all your health insurance needs are taken care of. Secure your parents’ health with us today!
Disclaimer: Please read the brochure and prospectus to know more about our comprehensive travel insurance plans, as conditions may vary.
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