Your parents helped you learn to walk; it’s time you do the same!

They nurtured you from your childhood and worked hard with you to make you what you are today. From your life insurance to your health insurance, your parents started thinking and doing it for you from the moment you were born. Isn’t it time you returned the favour?

Don’t shoulder it as a burden; proudly carry it out as your responsibility! They cared for you all their lives, time for you to take care of them. As they are walking towards old age, health problems are probably going to walk with them. So, the first step should be taking a health insurance for parents.

It is no hidden fact that medical expenses are getting higher day by day. It is best to be prepared in advance for a possible health misfortune. It might not be possible to generate sufficient funds on the go. In such cases a health insurance for parents is extremely beneficial. You are assured that the medical expenses can be met and your parents get the right medical treatment.

Let us go through some of the benefits of a health insurance for parents.

Financial assurance

With medical expenses soaring high, the number of critical diseases which would need special medical treatment is not going down either. In old age, you can face the misfortune of meeting with critical illnesses any time. In such scenarios, the health insurance you had taken for your parents can come in really handy without any major blow to your bank accounts.

Sense of security

There can be circumstances where you are settled abroad, away from your parents, or you are forced to travel a lot leaving your parents alone; and sickness does not come with an appointment – it can pay your parents a visit in your absence.

In such situations, where you cannot reach your parents immediately, you can still feel a sense of security thanks to the health insurance for parents that you had taken. The health policy would ensure that your parents get proper medical treatment.

Protection from existing problems

Health insurance policies also give you protection from pre-existing diseases. It might be a while before it happens, but after a certain period of time (as per the health insurance for parents you take), the same health policy will also provide insurance for the pre-existing diseases (if any of course!).

Tax benefits

Did you know that health insurance for parents brings you tax benefits? Well then, know now! Under Section 80D of the Income Tax Act, paying premium on health insurance policies for parents qualifies you for tax deduction.

But, before buying your health insurance for parents you need to consider all the various health policies presented in front of you, and then choose the one which suits your needs the best. The only question here is – what all should I consider before buying the policy?

What does the plan offer to you?

A health insurance plan offers you multiple benefits like pre-hospitalization charges, post-hospitalization charges, inpatient hospitalization benefits, day care procedures, domiciliary treatment and such.

When you choose your health insurance for parents, it is beneficial for you if you understand all these benefits and look at policies which come with additional benefits like free health check-ups after renewal, free ambulance services, etc.

What should be the cost of the insurance plan?

When choosing the amount of health cover you need to consider certain factors such as the current and expected status of medical care expenses. Medical expenses are considerably higher in metro cities when compared to non-metro cities, so take your surroundings in consideration. And not to forget, check up on your budget. Take an overall view and choose.

Which health insurance of parents plan?

When you are choosing a health insurance plan for your parents take into consideration their current health status, their age and, if any, existing diseases that they are suffering from.

How long is the waiting period?

Waiting is the most boring part of any task. The same goes with your health insurance plans. Health insurance plans waiting period refers to the time period where you are prohibited from utilizing any of the plan’s benefits. The waiting period differs from insurer to insurer so make sure you go through every minute detail of your health insurance policy.

What are the plan’s network hospitals?

Before you buy your health plan, it is extremely important for you to go through the list of network hospitals and compare it with the best hospitals in your area.

With the above mentioned benefits of health insurance for parents, and pointers on how to choose the correct plan, we hope you choose the best!

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Author: Jigyasha Prasad

An ardent traveller and a Ruskin Bond fan, I love exploring new places and creating those experiences into stories"

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