Why to Buy Medical Insurance Plans For Parents

Medical insurance for parentsImage Source: rupeeze.com

Good health is a blessing for each person. It is a tool that guides you towards a happy and healthy life. We all know that a healthy body nourishes a healthy mind and that helps you work better through the day. With a healthy body, you will be free to focus on different aspects of your life. We all know that in the old age, people are more prone to disease . It is thus essential to take extra care of the health in the old age and get quality treatment in time of need. But for many people getting quality treatment in older age is a tricky prospect due to lack of funds. As a responsible child, it is thus our duty to ensure our parents under an effective health plan to secure their health in old age that will take care of all health issues and help them lead a trouble free life.

Medical insurance for parents-2

Image source: rediff.com

Medical insurance plans for parents

Health insurance for parents or senior citizens is important, considering the rate at which health care expenses are rising. If we talk about an average percentage then the health care cost is rising by 15 percent every year. Moreover, it is found that almost 75 percent of Indians are paying these expenses from their own pockets.

With the help of medical insurance coverage for your parents, they will be able to get quality treatment in old age as well. So to provide complete support to your parents you must buy a health insurance plan for them. It will provide a stress-free post-retirement life to them.

There are several reasons to buy medical insurnce plans for parents. It can be growing health care cost, rising frequency of disease and much more. It is not like a health insurance plan will protect you from all diseases, but for sure it will help you in treating most of them. It will act like a savior in need.

If you or your family members face any health related issues, then a health insurance plan will provide a helping hand to deal with it. It will provide the required financial coverage to you that will remove the burden of heavy medical expenses. It will surely provide a great level of relief and allow you to take wise decision in all stages of life.

Why purchase health insurance for Parents?

The cost of health care is rising more than the normal inflation rate.

Your parents may own a limited income or unstable income during post-retirement life.

Your parents are financially dependent on you.

Old age is easily prone to accidents and diseases. They might need sudden financial assistance for quality treatment on time.

If you have dependent parents in your family who are above the age of 60 years, then you must buy medical insurance for parents instead of insuring them under floater plan. It will be best for you and will help you in saving more money.

Things You Must Check In Medical Insurance Plans For Parents:

Co-payment rules: Under this, the policyholder has to pay a particular percentage from the claim amount like 20 percent of the claim or more. It depends upon the insurers and plans.

Sub-limit: it is common for the insurers to fix sum limits for definite illnesses or treatments.

Pre-existing diseases: There are many insurers that do not provide coverage for pre –existing disease. You must check and compare them thoroughly to get the desired coverage on existing disease as well.

Waiting Period: The insured has to wait for a definite period of time before claiming any expenses.

Disclaimer -This is a guest post by Mr. Mohit Kapoor of policyx.com. http://insuranceblog.asia is not associated with Mr. Mohit Kapoor or Policyx.com. This post is purely for knowledge sharing purposeInsuranceblog.asia have not received any monetary benefits for publishing this post or for referrals. Please visit any link outside http://insuranceblog.asia at your own risk.

3 Comments on "Why to Buy Medical Insurance Plans For Parents"

  1. As, discussed in this blog post health is important than everything. And, in old age medical expenses will increase like anything. It’s a good post to know that why we all need to gift our parents Health Insurance policy. But before buying any of the policy you should check for all of the terms and conditions of that policy so that your parents doesn’t get into trouble while medical emergency.

  2. chintangrover@gmail.com' Chintan Grover | June 17, 2016 at 11:26 pm | Reply

    Hello, can you share some health insurance policies for senior citizens. If I want to gift my parents any policy then which one will be the best one and what benefits they get. Please suggest.

  3. You can show your love for your parents at any age. You can show your gratitude by taking good care of your parents. You can show your love by buying life insurance policy for them. Because, as they grow old chances of age related problems will also increases. So, if they have health insurance their medical expenses will be covered under that policy

Leave a comment

Your email address will not be published.


*