Health Insurance for Parents

Old age brings along health ailments that are expensive to take care of. This is why we must take all precautions to protect our elderly both physically and financially against such risks. Taking up health insurance is the foremost precaution one must consider; it adds a layer of protection around not only your parents but the whole family and gives you financial aid in any kind of health emergency. Health insurance for parents offers various coverages and benefits, let’s dive deeper and understand various health insurance plans and their benefits.

1. Bajaj Allianz Silver Health Plan

Bajaj Allianz silver health plan is a health insurance policy specifically designed to suit the needs of senior citizens and is available from the age group of 46 to 70 years.

Coverage offered

The plan offers extensive coverage which includes

• Hospitalization expenses
• Pre and post hospitalization charges
• Ambulance charges
• Cover for pre-existing illnesses and cataract surgeries (only after completing the first year of the policy)
• Over 130 Day care procedures.

Benefits offered under the policy

• If you choose to cover your whole family under the policy, you will get a discount of 5% of the total amount.
• You can enjoy cashless claims if you take treatment in the listed hospitals under the insurance company.
• If you choose to opt for treatment and any other hospital, the payment borne by you will be reimbursed within 14 days.
• The policy where’s the group payment floors if you are ready to pay a little more on the premium.
• You can avail of tax benefits for the premium paid on this policy under section 80D of the income tax act.
• The policy of a cumulative bonus of 5% to your limit of indemnity for every claim-free year.

2. New India Assurance Senior Citizen Mediclaim Policy

This senior citizen medi-claim policy is one of the most popular health insurance policies offered by New India assurance. The policy takes care of all hospitalization expenses for your parents including pre and post-hospitalization costs.

Coverage offered

• Pre- and post-hospitalization expenses for a maximum of 30 days and 60 days of hospitalization respectively.
• Hospitalization costs for injuries and illnesses
• Ambulance charges

Benefits offered under the policy

• The policy covers pre-existing illnesses like diabetes mellitus, hypertension, etc at just a small amount of additional premium cost.
• If you renew the policy without a break, you can avail benefits of the cover until the age of 90.
• Once you complete 4 claim-free years will be reimbursed the cost of the prescribed pre-acceptance health check.
• You are eligible to get an income tax benefit for the premium you pay on this policy.

3. Oriental insurance HOPE plan

Oriental insurance HOPE- Health of Privileged Elders is a policy designed specifically for people above the age of 60. The policy offers a wide range of cover which also includes specified diseases.

Coverage offered

The policy offers wide medical coverage for situations like-

• Accidental injuries
• Knee replacement surgeries
• Cancer
• Cardiovascular diseases
• Chronic obstructive lung disease etc.
• All ICU and room charges and also nursing expenses are covered under the policy.
• The policy covers emergency ambulance charges for anaesthesia, oxygen, operation theatre, doctors’, surgeons, surgical appliances, etc.
• The policy also covers the costs of medicines, artificial limbs, prosthetic devices, and diagnostic tests.

Benefits offered under this policy

• The policy covers all costs of domiciliary hospitalization.
• It offers discounts on premiums on voluntary co-payment.
• The policy offers cashless services through third-party administrators up to Rs 1 lakh.
• The policy also reimburses you for the cost of health check-up’s after 4 consistent claim-free years.

4. United India Senior Citizen Health Insurance Plan

This policy offering from United India covers various costs of hospitalization, ICU, surgeries, consultation, and nursing. It comes with a free look period of 15 days and those in the age range of 61 to 80 years are eligible to be covered under the policy.

Coverage offered

• The policy covers pre and post-hospitalization expenses before up to 30 days and after 60 days of hospitalization respectively.
• Covers all the expenses related to specialist doctors, anaesthetists, and consultants’ fees.
• The policy covers all expenses related to ICU, dialysis, radiotherapy, and prosthetic devices like cardiac valve replacement, pacemakers, vascular stents, etc
• It covers chemotherapy and also for diagnostic tests like X-rays.

Benefits offered under this policy

• This insurance covers treatments of hysterectomy, cataract, and hernia.
• The insurance also covers day-care procedures provided the hospitalization lasts 424 hours.
• It provides cashless claims at listed hospitals across India.
• You can avail of a 5% family discount on the overall premium if you include one or more family members such as dependent children or spouses.

5. Star Health Insurance Senior Citizens Red Carpet

Star health insurance offers this red-carpet policy for individuals aged between 60 to 75 years and covers all medical expenses.

Coverage offered

• The policy offers coverage for all medical expenses including ICU and nursing expenses.
• The policy also covers expenses like anesthetics fees, emergency ambulance charges, surgeons fee consultation free up to 25% of the sum insured.

Benefits offered under this policy

• This policy offers you the benefit of portability to another insurance provider.
• You are paid a lump sum amount for the post-hospitalization expenses you incurred.
• The claim settlement under this policy is quick and completely hassle-free.
• You can avail of the benefit of cashless hospitalization at any of the hospitals listed under the insurer.

6. Care Freedom Plan

This insurance policy from Care Health Insurance Company offers a wide range of medical coverage without any pre-policy medical check-up’s.

Coverage offered

The policy offers complete coverage for all hospitalization expenses, day care treatments, pre and posts8 hospitalization expenses, and domiciliary care expenses

Benefits offered under this policy

• The policy offers cashless hospitalization at over 8350+ hospitals across India
• There are three policy term options available for 1, 2, and 3 years respectively.
• You have the benefit of availing of an annual health check-up irrespective of your claim’s history.
• The plan also offers dialysis covered at a fixed amount per sitting for up to 2 years.

If the health of your parents and family is of prime importance to you, you must invest in a health insurance policy. As there are plenty of options available in health insurance for parents. Compare the terms, conditions, premium rates, and tenure of different policies and choose the one that suits your and your family’s needs.