Things to Check When Buying Health Insurance Plans for Parents in India

Health insurance plans are necessary especially for parents and are crucial as they offer them protection against unwarranted expenses in case of a health emergency during the later years of their lives. This is the time when it might be difficult for them to arrange the required funds, hence, a health insurance policy does the perfect job. There are different types of health insurance plans for parents in the market such as individual health insurance plans, family floater health insurance plans, senior citizen health insurance plans, etc.

However, irrespective of which health insurance policy you opt for, there are several factors that you must consider before that, to make the most of it. Read them below:

1. Coverage

As parents and senior citizens are more prone to illnesses, therefore they must choose a health insurance policy that covers them at all times. When choosing, they must check if the plan covers them for hospitalisation due to accident or illness, sickness, or disease, pre-hospitalisation and post-hospitalisation expenses, health check-up, major surgeries, psychiatric illness treatment, etc. You must also check if there is capping on room rent expenses covered.

Must Read: Useful Add-ons To Opt With Parents Health Insurance Plans

2. Critical Illness Benefits

Critical illnesses are life threatening illnesses such as cancer, stroke, paralysis, liver failure, end stage lung failure, etc. The expenses for the treatments of these illnesses cost hige and hence you must make sure that your policy covers you for them too.

3. Affordability

Choosing high coverage features may increase your premium. So, to make sure that you are able to afford the policy for a long period of time, you must make sure that the premium is suitable. Also, to ensure that the premium that you are paying is worth the benefits offered under the policy, you must compare your policy with other health insurance policies for parents.

4. Network Hospitals

It is important to check the list of network hospitals of an insurance company as they allow cashless treatment to the insured. The more the number of network hospitals an insurance company has, the more you will be at ease to find one nearby your place to avail cashless treatment with ease in case of an emergency.

5. Co-payment Clause

Co-payment is when the insured and the insurance company partially pay for the claim amount incurred. As the expenses for treatment required for parents can be high, therefore, you must look for a health insurance policy that comes without any co-payment clause.

Conclusion

As people age, there are high chances of them getting sick considering the weak immune system. This is why you should soon buy a health insurance policy for your parents if you have not already. A reliable health insurance plan not only reduces financial strain in case of an emergency, but also ensures good quality care for your parents.

Also Read: Affordable Health Insurance Plans For Parents in 2021

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.