Financial planning is always important for everyone’s life. Buying a perfect health insurance to near and dear ones shows you how well planned you are financially. But still there are few people who have an excellent financial planning, but still haven’t purchased health insurance yet. Such people seem to suffer badly at later stage because they face unexpected medical expenses in future. The medical expenses can be about their parents, partners or their kids. Do not avoid buying a health insurance policy to your family members.
In this article, we are here to share you about what exactly health insurance is, why do you need a health insurance for older ones and few Best Health Insurance Policies for your Parents.
Health Insurance and Reasons to Buy Health Insurance for Parents:
Health insurance covers the cost of individual’s medical and surgical expenses. Based on the type of health insurance coverage, the insured pays costs out of pocket and is then reimbursed directly to the provider.
Why should Senior Citizens Need Health Insurance?
Senior citizens and their old age bring with itself various ailments that are too expensive to treat and care for. Hence there are different companies that offer various health schemes to senior citizens. Following reasons may help you understand why your parents need the best health insurance for them.
- Senior citizens are prone to various health related problems and also life threatening diseases.
- They can enjoy quality treatment even in their old age.
- The best health insurance gives security and stress free life after their retirement.
- With increase in illness and risk ratio, your chosen health insurance really helps them a lot.
- With the increase in medical cost, the old age people enjoy the benefits of health insurance.
- It can also bring tax benefit under section 80D.
The Best Health Insurance for Senior Citizens:
Listed below are various features and premium health insurance plans for parents.
Apollo Munich Optima:
Apollo optima senior health insurance plan is available from age of 61 years. It has lifelong renewal and any pre-existing disease will be covered after 3 years of waiting period. They can claim bonus of about 5% every year. The insurance varies from 2 lakhs to 5 lakhs. It covers copayment on room rent along with illness and injuries.
Max Bupa Heart Beat Insurance:
This plan is available for any age and it offers lifelong renewal. It also includes free health checkup and the higher sum is assured up to 50 lakhs. It offers 20% of copayments for seniors citizens of age 65 years and above.
Bajaj Alianz Silver Health Insurance:
Bajaj Alianz Silver plan is available from the 46 years to 70 years. It includes free health checkup with assured sum up to 50 lakhs. Along with these features, it also includes 20% copayment for the age 65 years and above.
Star Health Senior Citizen Red Carpet Plan:
Star health senior citizen red carpet plan is for senior citizens of age between 60 to 75 years. It covers all the preexisting diseases from second year onwards and you can also avail insurance up to 10 lakhs. For specific illness, sublimit is applicable.
National Varistha Mediclaim:
The senior citizens can take this policy from 60 years to 80 years. But the assured amount is very low, 1 lakh for hospitalization and 2 lakhs for critical illness. It also offers cumulative bonus and also free health checkup every year.
Some of you may feel that since your parents have an existing disease, they cannot get health cover. But this is just a myth. There are few health insurances that cover existing diseases and you can also claim insurance very easily. Looking out for better insurance? Do post your queries in the comment section so that we reach your expectations.