Purchasing parents health insurance separately from your corporate insurance is more than a thoughtful approach. Health insurance plans help you save money on expenses in any sudden medical emergency. Usually, your parents are in their mid or late 50s when you are in your early 30s. That is why the early 30s is the best time to buy health plans for your parents. You can purchase insurance from companies like Bajaj Allianz Health Insurance which provide many great benefits as per the health requirements of your parents.
Why getting Health Insurance for your parents early is a good decision?
– Low premium: Purchasing health insurance becomes more costly once your parents reach the senior citizen age group. You can cut the cost of premiums without reducing the quality of medical treatment and care by getting a health plan early for your parents.
– Your financial capacity: Ensuring good healthcare for your parents is a non-negotiable requirement. You will always find it easier to pay the premiums within your 30s and live a life free of major commitments.
– Longer tenor benefits: The earlier you buy health insurance for your parents, the more long-term benefits you secure. Benefits like cumulative bonuses can come in handy during any treatment and give you extra financial support.
Why is it necessary to buy Health Insurance plans for parents?
Purchasing a parents health insurance policy will ensure that they get proper care when they utmost need it. Health insurance plans offer a wide range of benefits, making getting one for your parents an intelligent choice. Following are some of the reasons:
– Cover inflated medical expenses: Healthcare expenses are constantly increasing. It can especially become an expensive deal for your elderly parents, who are likely to frequent doctor appointments, tests, or hospitalisation. A solid health insurance policy will ensure your parents and you beat the rising medical expenses and get the best treatment.
– Coverage beyond diseases: Getting your parents’ health insurance plans will help cover more than treatments. The plans come with wellness benefits like seeking guidance on nutrition, exercising, lifestyle, and health in general.
– Lifestyle ailments: The older generation, like your parents, can also be affect by lifestyle ailments just like younger generations. So, getting an individual health insurance plan is wise to ensure they get the right treatments.
– Insufficient insurance coverage: Sometimes, your corporate health insurance plans may not cover all treatment and healthcare costs. Purchasing separate health insurance is a good way to enhance the current coverage.
What is covered by Health Insurance plans?
You must always check what aspects are cover in the health insurance you plan to buy for your parents to avoid unnecessary surprises while filing the claim. Knowing what you are getting from the insurance plan will also help you choose the right policy.
– Day-care treatments: Owing to the improved healthcare system, treatments and some surgeries are completed within 24 hours. It makes the treatments qualified as daycare procedures. Such procedures are covered by most insurance providers, such as Bajaj Allianz health insurance.
– Cashless domiciliary treatments: Often, elderly parents don’t want many hospital visits. They would instead opt for home medical care if advised by their doctors as much as possible. Some insurance companies offer home health treatment coverage and often allow cashless methods.
– Pre and post-hospitalisation Cover: Sometimes, you need a few mandatory treatments and follow-up visits pre and post hospitalisation. Health insurance will help you cover these expenses too.
– Sum insure rebound: Your parents can benefit from the sum insure rebound that makes health insurance policies act as multi-layer protection. Sum insured rebounds help recharge exhaust policy coverages and play the role of a backup financial reinforcement.
Choose the right Health Insurance for your parents
When you purchase health insurance plans for your ageing parents, look for the following aspects and choose the right policy for them:
– Waiting periods: Checking for waiting periods should be the first thing on your list when selecting any health insurance for your parents. They may have existing health conditions and need to utilise the benefits soon after purchasing the plan. Therefore, choosing a policy with the least waiting period is recommended.
– In-home treatment: Patients, especially the elderly, often want to feel comfortable in their home while getting medical advice and treatments. If the doctor allows domiciliary treatments, you should choose the facility plans.
– Coverage beyond sub-limits: Elderly parents would want comfort and privacy when hospitalised for any medical check-ups or treatments. So, look for plans with no restrictions or sub-limits for room tariffs.
Bottom line
The health insurance provider and the plan you choose for your parents health insurance should give you a completely hassle-free and quick service when you need it. You should always research and look for your specific requirements before choosing any insurance policy and look for customisable benefits such as discounts, no claim bonus, moneyback etc.
