Health Insurance is an important tool that can protect your finances from steeply-priced medical healthcare and support. A reliable policy can go a long way in offering some relief to you in case you are ever stuck in an unforeseen medical emergency.
It goes without saying that every member of your family is vulnerable to illness, particularly your elderly parents. This is why it is critical to keep your eyes open for the best health insurance for parents.
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Here are some key factors that can help you understand how to secure your parents financially with the best health insurance for parents –
- Entry Age Criteria – Many health insurance options such as the Senior Citizen Health Insurance have no restrictions for maximum entry age. However, most options have a minimum entry age – which is commonly 60 years of age.
- Type of Coverage – Health insurance has mainly two types of coverage options – individual or family floater. Analyse your family’s needs beforehand to ensure you’re getting the best health insurance for parents.
- Coverage Amount – The best health insurance for parents generally offer a high coverage amount. When selecting a health cover for your parents, ensure they get the right coverage and protection.
- Policy Benefits – Cross-check the benefits offered in a policy. Common benefits include – modern day-care procedures, pre & post-hospitalisation costs, alternative treatments, and annual health checkups.
- Waiting Period – While choosing medical insurance for parents, make sure to review the waiting period clause. Health policies have an initial waiting period of 30 days, a 2-year waiting period for specific diseases, and a 4-year waiting period for pre-existing conditions. When assessing the plans, remember that the lower the waiting period, the easier it will be to receive coverage without any last minute hassles.
- Co-Payment – Co-payment is an obligatory feature in health insurance for parents in India. Under this clause, the policyholder must pay a particular percentage of the final settlement. Health insurance providers rarely offer a 100% settlement; when picking the best health insurance for parents, remember to choose plans with an affordable co-pay clause.
- Daycare Treatments – In the modern age of medical healthcare, minimally invasive surgeries, cataract surgery, chemotherapy, dialysis, etc., are possible in daycare. This is why it makes sense to opt for a policy that covers a maximum number of daycare treatments.
- Cashless Network of Hospitals – When purchasing a health policy for parents, you must find out about the cashless hospitals that are a part of the company’s network. Find the network hospital nearest to your area so that you can get a timely and hassle-free claim on your parent’s medical procedure.
- Policy Terms & Conditions – When evaluating and comparing the best health insurance for parents in India, it is always important to carefully read the details given in your policy document. Look for the inclusions – that is, the claims your parents will be covered for, and the exclusions – the situations that are not insured. The last thing you want is a stressful claim settlement process simply because you did not go through all the terms and conditions beforehand.
Choose a plan that best suits your parents’ requirements and also includes such enticing add-on benefits. Secondly, understand the payment mode and claim settlement process. Lastly, submit the required documents and complete all the formalities. Care Health Insurance is a leading health insurance company in India offering new-age and dynamic policy schemes for senior citizens. You can view the different policies available online, upload the required documents, and make a safe payment all in one stress-free process. Visit their website to find out more about how you can secure your parents’ future!
