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Useful Add On Covers You Should Opt with Parents Health Insurance Plan

Published On Mar 13, 2021 5:30 AM By Sakshi Aggarwal

Health insurance plans for parents safeguard the financial position of the family during any unfortunate health-related incident occurring to your loved parents. The health insurance plan can be customized by the policyholder via adding riders and other covers. There are 3 different types of health insurance plans which can be purchased to cover the medical expenses of your parents. These plans are explained below in detail:

Types of Health Insurance Plans For Parents

Following are the three types of health insurance plans with which you keep the health of your parents insured -

1. Individual Health Insurance

The individual health insurance provides life cover for the assured individuals only. The assured can be your immediate family members like your parents. The assured is entitled to benefits like covered medical expenses and sum assured etc.

2. Family Floater Health Insurance

Under family floater health insurance plans, the insurance company provides health insurance for the whole family under one single plan. Each member of the family has access to sum assured and cover for medical expenses. You can register your parents under the family floater plan and experience healthcare coverage without incurring any extra charges.

3. Senior Citizen Health Insurance

Senior citizen health insurance plans are suitable for individuals who have parents above 60 years of age. Such insurance plans aim at matching all medical requirements of your aged parents, irrespective of any diagnosed disease. Moreover, these plans provide benefits like home hospitalisation and critical illness benefits etc.

Useful Add On Covers You Should Opt with Parents Health Insurance Plan

If you require to enhance your plans and make it most suitable to the health care needs of your parents, the following useful coverages can be included:

1. Room Rent Waiver

This add-on coverage avoids the inconvenience of hospital rooms where one room rent is capped to a certain limit. The rent of hospital rooms is higher in top private hospitals which may not be covered under a basic health insurance plan. With this add-on feature, you are allowed to either increase the sub-limit ensured for hospital room rent or opt for no sub-limit on room rents.

2. Daily Allowance

Under this add-on feature, the insurance company provides cover for immediate cash-related expenses that incur during the hospitalisation of the life assured. The policyholder is entitled to alump sum amount for a fixed number of days during hospitalisation for the non-medical expenses similar to transport costs, attendant costs, etc.

3. Critical Illness Cover

Under this add-on rider, the life assured receives a lump sum benefit during the diagnosis of any critical illness included in the terms and conditions of the plan irrespective of ongoing treatment expenses. This rider can be very useful for protecting the health of your aged parents by providing the best medical attention required.

4. AYUSH Cover

Ayurveda, Yoga, Unani, Siddha, and Homeopathy, acronymed AYUSH is a treatment method specifically designed for individuals having an age of more than 60 years. This cover provides financial coverage for the expenses incurred in the treatment of the individual using such alternative therapy methods.

5. OPD Care

This add-on feature provides coverage for the expenses incurred in OPD consultations, diagnostics, and medications of the life assured.

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.

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