Health Insurance For Parents
Are you planning to buy Health insurance for parents? Indian market is currently abound with options on healthcare plans specifically designed for senior citizens and many insurance providers also offer family floater healthcare plans specifically designed for families consisting of senior citizens.
However, the options tend to limit down if the age of your parents is more than 50. Also, while purchasing mediclaim policy for family which includes your parent’s you might have to pay a higher premium depending upon the age of the eldest parent. The primary reason is the age vs health risk metrics. As the age of the parent increases, the risk exposure of the insurance companies also rises. In order to maintain a balance, the firms have to insert some built-in buffers.
The good news is that many companies are now coming up with mediclaim policy specifically designed for senior citizens. For example, star health senior citizen red carpet plan, Bajaj Allianz silver plan, etc.
The Star Health Senior Citizen Red Carpet policy covers people in the age group of 60-69 years. Although there is copayment of 50%, there are no medical tests required at the time of the payment of the policy. Similarly, Similarly, Bajaj Allianz Silver Plan covers people till the age group of 75 years and the policy can be renewed till 80 years. The Sum Insured options start from Rs 50,000 to Rs 5,00,000.
If you are looking for best mediclaim policy for family among the national insurance companies, National Insurance provides Varistha Mediclaim policy which requires,no medical tests if the parents were already covered under a health insurance policy previously. It also provides no-claim benefits and covers pre-existing diseases after one year of no claims from the date of policy inception with the company. Similarly, Oriental insurance’s offer called Hope states no upper age limit for health insurance and covers 11 specified critical illness diseases like Accidental Injury, Knee Replacement, Cardio Vascular Diseases, Chronic Renal Failure, Cancer, Hepato-Biliary Disorders, Chronic Obstructive Lung Diseases, etc.
As the market is abound with options it gets important to go through all the options and then zero down on one to buy the best mediclaim policy for parents. Before you decide on purchasing a certain policy, we would recommend you scan all the possible options and decide on the one that is best healthcare policy suitable for you. For your ease, we have covered most of the important plans like Apollo Munich health insurance plan, Maxbupa health insurance plan, etc. Although we have tried our best to provide the best of the knowledge, we would recommend the details mentioned in the article should be checked by the concerned company representative before confirming to buy the policy,