Importance of Health Insurance For Your Parents

Health insurance is insurance where the insurer takes the responsibility of covering the medical expenses which arise due to illness. Such costs could be hospitalisation charges, cost of medicine, doctor consultation, etc. Buying health insurance for your parents reduces the burden and ensures that your parent's health is taken well care of.

What Is Covered Under The Health Insurance Policy For Your Parents?

The following are the expenses that the insurer is ready to cover:

• Hospitalization expenses: Severe illness or disease may require the patient to visit the hospital. Nowadays, the hospital expenses are touching skies and for common people, it is sometimes difficult to cover the expenses. So in such cases, the insurer comes forward to financially support the insured.
• Pre and post medical expenses: Health insurance also covers the expenses of the insured before and after hospitalization.
• Pharmacy expenses: The insurance also covers the expenses of buying medicines or other medical necessities.
• Daycare treatments: Treatments that don't require 24/7 observation in hospitals are also covered up by insurers.

What Is Not Covered Under Health Insurance Plans For Your Parents?

• Any pre existing ailments or injuries
• Treatments other than allopathy
• Self done injuries
• Cost of dental treatments
• Plastic or cosmetic surgeries
• Expenses related to purchasing spectacles, lenses, etc.

Importance Of Health Insurance For Your Parents

By paying a small amount of premium, you can ensure the safety of your parents. Some of the importance of health insurance policies are:

• Prevention and minimization of unforeseen financial losses
• Access to quality health care
• Provides financial stability to the insured
• Contributes to a stress-free life
• Helps in saving tax

How To Choose The Perfect Health Insurance Plan For Your Parents?

There are a number of health insurance plans available for elderly people. You can check out the plans online and find the best suitable for your parents based on your needs and requirements.

Below given are some of the parameters you should check before buying a health insurance plan-

• Entry age: In most health insurance plans, the age limit has been set up. There are some plans which provide coverage from 55-80 years while some others entry age starts from 60 years and above.
• Maximum coverage: before buying a health insurance policy, you must ensure that it covers most of the illness, especially critical illnesses since at this age they are more prone to such diseases.
• Network hospitals: the hospitals that have a network with the insurance company should also be checked to ensure if they are reputed hospitals and there occurs no trouble at the time of emergency.
• Insurance premium: insurance premium of each company should be compared and the affordable one should be opt by evaluating.
• Terms and policies: there are different kinds of terms and policies associated with each company, the insured should go through the terms and conditions thoroughly and then accept the policy.
• Waiting period: a plan which has a lower waiting period should opt.

Documents Required To Buy Health Insurance Policy

• Age proof
• Identity proof
• Address proof
• Passport size photos
• Others as asked by the insurer company

Conclusion

As our parents grow older, their immune system weakens and their metabolism rate lowers, there is a high risk of diseases and illness, to ensure that they get quality treatment, health insurance policies should be bought. It will reduce mental strain related to a financial burden. Paying a small amount of money out of your income will ensure the quality care of your parents.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.