Health Insurance for Parents

It is important to buy health insurance for parents because, after a certain point in time, they require good medical assistance, as their immune systems become weaker. This is why we must get them adequate health insurance coverage that covers them for major healthcare expenses.

5 Lac coverage starting from only ₹257/Month*
  • Tax Benefit
    Up to 75000**
  • Claim Support
    Everyday 10AM-7PM
  • 14 Lac+
    Happy Customers

*Standard Terms and Conditions Apply.

**Tax benefits are subject to changes in Income Tax Act.

Age is not just a number for the Parents. It is a factor that affects their golden days and how they spend their savings enjoying it. Health is the first companion that starts deserting them and drags along with it their hard-earned savings. A Parents Health Insurance can come to their aid at such times.

Costs for medicines, hospitalization and treatment are rising at an exponential rate. Add to it the handicap of limited income of senior citizens with no scope of increase in income. This problematic combination can make retirement a burden rather than a happy second inning. In such times, a senior citizen health insurance policy proves to be a boon.

What is Parents' Health Insurance?

Health insurance for senior citizens in India is offered by different insurance companies to financially secure those who are aged 65 years and above. The medical insurance policies for senior citizens are designed to cover all kinds of medical expenses that are incurred by the policyholder. Gifting health insurance to your aged parents or senior citizens in the family is the best way to care for their needs.

Importance of Parents Health Insurance Plans

It is crucial to buy health insurance for senior citizens in India due to several reasons

1. Old Age Makes You Prone To Illnesses

After an age, a person wishes to retire and survive on the pension or the interest earned from savings. But growing older tends to attract ailments and contraction of diseases.

2. Stress-free Planning With Health Insurance Schemes

Though falling sick is inevitable with ageing, you can still plan to ensure all the urgent medical expenditure is taken care of in a systematic and hassle-free way.

3. Debt Crisis In The Family

Sudden crisis in terms of ailments can be a huge financial blow to your family. If the older person doesn’t have a senior citizen health insurance plan, then the breadwinner of the family would have to slog harder to pay off the medical expenses, manage household expenses, and pay off loans if any. This adds to the ill and aged person’s guilt, making them feel like a burden to the family.

Features Of Parents Health Insurance Plans

The key features of a senior citizen health insurance plan are:

  • Premiums paid towards a senior citizen health plan are eligible for tax deductions. Get tax benefit on health insurance premiums
  • Comes with a free look period of 15-30 days
  • Daycare costs that arise due to the use of special equipment while treating procedures such as dialysis and chemotherapy are covered
  • Some plans also cover health check-ups

What Is Covered Under Parents' Health Insurance Plans?

The inclusions of the policy are as follows -

  • In-patient Hospitalization for treatment of injury/accident/disease
  • Cashless Hospitalization at network hospitals
  • Day care procedures
  • Pre-existing diseases post waiting period
  • Hospital Room Rent and Ambulance Expenses
  • Some insurers offer free medical check-ups once a year
  • Critical Illness Rider Option
  • Pre and Post Hospitalization expenses
  • Organ Donor expenses
  • Domiciliary expenses

What Is Not Covered In Parents' Health Insurance Plans?

Here is the list of exclusions:

  • Expenses arising from HIV/AIDS/STDs and related diseases
  • Non-allopathic treatments, congenital diseases, mental disorder or insanity, cosmetic surgery and weight control treatments
  • Self-inflicted injury
  • Suicide
  • Nuclear, chemical or biological threat
  • Pregnancy, dental treatment, external aids
  • Alcohol/substance abuse
  • Participation in military operations
  • Participation in extreme sports

Benefits of Parents Health Insurance

The key benefits of a senior citizen health insurance plan are:

  • Fast, convenient, hassle-free claim settlement process
  • Cashless hospitalization is available if the senior individual is admitted for more than 24 hours
  • Provides cover for doctor’s fees, medical bills, room charges, in-patient hospitalization expenses, etc.
  • Lifelong renewable facility is available
  • Emergency ambulance expenses for transporting the insured shall be borne by the insurance company
  • Pre and Post hospitalization expenses covered
  • Pre-existing diseases are covered subject to terms mentioned in the policy document

How to Compare Parents' Health Insurance Plans?

If you want to compare senior citizen medical insurance in India, you need to remember that the type of policy a person wishes to avail depends primarily on:

  • Fixed income amount
  • Financial status
  • Number of dependents
  • Health of dependents

While doing a comparison on health insurance plans for senior citizens in India, consider the following parameters:

1. Age

Age plays an important role when buying health insurance for senior citizens in India. The decision to issue a policy depends on the age. Hence, one should buy at an earlier age to increase chances of getting better coverage. When it comes to public sector insurance companies, senior citizen health insurance plans offered by them are the ones in the 60-80 age group. A few insurers have no maximum entry age and allow entry even after 80. Always pick a medical insurance policy that goes on for a longer period. The age limit for renewal varies from one company to another so check the terms and conditions carefully before buying the policy.

2. Number of Insured Persons on the Policy

The number of insured persons in a policy depends on whether you want to add your spouse to your plan, or you prefer buying a separate senior citizen health insurance plan for them. This decision is purely based on their medical conditions and your budget constraints.

3. The Sum Insured

When comparing different medical insurance plans for senior citizens in India, the sum insured is a vital element that needs to be considered. A rough calculation of the medical charges for the entire year will help you decide the desired sum insured amount. Consider the spouse’s medical necessities too if they are being covered in the policy.

4. Premiums

Although premiums for senior citizen health insurance policies are higher, they're totally worth it. At a stage in life when you should be unwinding and savoring the retired years, the last thing you should be doing is raising funds to take care of your medical expenses. A little bit of planning in your budget will easily sail you through the retired phase.

5. Coverage of Specific Diseases

It is important to get the best senior citizens health insurance plan which covers many ailments including critical illnesses with progressing age.

6. Network Hospitals

When you age, nothing beats the comfort of a nearby hospital with a cashless facility. Do enquire about the cashless tie-ups in the hospitals of your choice before making the payment.

All About Mediclaim Policies for Parents

Being a senior citizen can seem quite daunting if you don’t plan your life and expenses properly. With a rise in age comes an increase in expenses, inflation, risk to health, etc. The best solution to the problems mentioned above is a mediclaim health plan for senior citizens. A senior citizen mediclaim policy is a must-have if you are planning an early retirement with a regular pension or interest income from savings.

To boost mediclaim policies for senior citizens, the IRDAI has told insurers to provide coverage to individuals up to 65 years of age. This has enabled individuals to purchase health insurance coverage, even at the later stages of life.

The inclusions under this policy are:

  • Ambulance charges - Covers expenses for emergency ambulance transport.
  • Daycare treatments - Covers daycare treatments such as dialysis and other treatments which do not require 24 hour hospitalization.
  • Hospitalization expenses - Includes room rent, physician consultation fees, doctor’s fee, treatments, etc.

The exclusions under this policy are:

  • Treatment cost of HIV/AIDS/STDs
  • Cost of lenses/spectacles
  • Dental Treatment
  • Drug abuse related treatments
  • Cosmetic Treatment and Surgery
  • Congenital diseases
  • Non-allopathic treatments
  • Claims raised during the waiting period.
  • Ailments diagnosed within 30 days of buying the policy.

Eligibility Criteria - Application for Mediclaim Policy for Family

The eligibility criteria is as follows: Entry age for the policyholder is 46 years, maximum age is 65 years.

Documents Required To Buy Mediclaim Policy For Parents

The documents required are:

  • KYC - Proof of ID and Address
  • Proof of Income
  • Age Proof
  • Medical Check-up/Report if required
  • 2 Passport-size photographs
  • Application Form
  • Documents required for claim under a mediclaim policy for senior citizen

The following documents are required to raise a claim under a mediclaim policy for senior citizens

  • Claim Form/Pre-authorization Request Form.
  • Attending a physician's statement.
  • Attested copies of all medical records.
  • NEFT mandate form

For a Death Claim:

  • Original policy documents
  • Original/attested copy of death certificate issued by the local municipal authority.
  • Death claim application form (Form A).
  • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook.
  • Nominee's photo identity proof such as copy of Passport, PAN card, Voter identity card, Aadhaar (UID) card, etc.

Medical Natural Death:

  • Attending physician's statement (Form 'C').
  • Medical records (admission notes, discharge/death summary, test reports, etc.).

Accidental Unnatural Death:

  • Copy of the First Information Report (FIR) or Panchanama/Police complaint.
  • Copy of Post Mortem report (PMR)/Autopsy and Viscera report.
  • Copy of the Final Police Investigation report (FPIR)/Charge sheet.

How to Select the Best Health Insurance Plan for People Above 60 Years?

Buying health insurance for aging parents has to be done carefully as you would want them to deserve the best. Keep the following points in mind while choosing medical insurance for parents above 60 years:

1. Know The Medical History

While buying a health policy for your senior citizen parents, you need to know their medical history. But, sadly they too may be unaware of many prevailing medical conditions that they suffer from. In such cases it would be difficult to rely solely on their knowledge of their medical history. Before providing such information to the insurance company, it is always better to cross-verify.

2. Compare And Choose Plan

There are many existing and new senior citizen medical insurance plans available online in India. It is essential to compare between the different schemes. Comparison between the various health insurance plans for senior citizens can be done on factors such as coverage, price, riders/add-ons, inclusions, and exclusions.

3. Fill Proposal Form

While selecting the policy, fill in relevant and accurate information. Incorrect information could cause problems and your insurer will reject the application.

4. Do A Medical Check-up

The insured would have to undergo a medical screening after submitting the proposal form. The doctors on the panel of the insurance company would verify the information related to the medical conditions of the policyholder. Depending on the health of the insured, a few medical tests would be conducted by the doctor. Some of the tests include lipid profile, blood routine, sugar, urine routine, kidney and liver function, sonography, etc.

Note: There are certain senior citizen medical insurance plans that don’t require pre-policy medical screening tests.

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Health Insurance Coverage Calculator

Who do you want to insured ?

  • Individual
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  • Parents

Age of eldest insured member ?

Where do you live ?

Disclaimer : Actual Coverage might vary basis your location, age and number of members

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*Standard T&C Apply. All savings/offers are provided by the Insurers, which are subject to modification .For more details on risk factors, terms and conditions, please read the sales brochure of respective insurers carefully before concluding a sale. Tax benefits are subject to changes in applicable tax laws. Girnar Insurance Brokers Private Limited, (CIN: U66010RJ2016PTC054811, Regd .Off: Girnar 21, Govind Marg, Moti Doongari Road, Dharam Singh Circle, Jaipur, Rajasthan- 302004; Corp. Off: 11th Floor, Tower B, Emaar Digital Greens, Golf Course Extension Road, Sector-61, Gurugram-122102, Haryana. IRDAI License no 588. Direct Broker (Life & General) valid till 19th March 2023. Email - ; Helpline number: 7551196989.
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