Buying Health Insurance for Parents? Don’t Miss This Unlimited Recharge Feature

• Written by Gungun Bhatia

  Reviewed by Munmi Sharma

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Imagine your father is hospitalised twice in a single year, once for a minor surgery and later for an unexpected cardiac issue. You had purchased a health insurance policy for him with a sum insured of Rs. 5 lakh. The first hospitalisation used Rs. 3 lakh, and the second exhausted Rs. 2 lakh. Just when you thought things were under control, he needed another procedure. But now, the coverage is exhausted. What next?

This is where most traditional health insurance plans fall short. However, Care Health Insurance understands the real-life needs of families, especially when it comes to ageing parents.

In this blog, we'll explore why buying health insurance for parents from Care Health Insurance, especially with Unlimited Recharge benefits, is more critical than ever. 

Why Buying Health Insurance for Parents is Essential

As your parents age, they need more healthcare, which can get expensive. With medical costs rising and a higher chance of hospital stays, depending only on savings might not be the best plan. That's why people are looking for the best health insurance policy for parents to help cover hospital bills and ensure peace of mind.

A good parental insurance plan:

• Covers pre-existing illnesses after a waiting period
• Provides cashless hospitalisation
• Includes daycare procedures
• Has lifelong renewability
• Ideally, offers a recharge benefit

But not all policies are created equal. This is where Care Health's Supreme and Ultimate shine.

What is Unlimited Automatic Recharge?

Let's get to the heart of this blog.

Unlimited Automatic Recharge is a benefit that restores your Sum Insured (SI) to its full amount every time it gets used up. Additionally, it can be used unlimited times in a policy year without any extra cost.

Here's what makes it exceptional:

• No Cap on Number of Recharges: Unlike other plans with limited recharge instances, Care Health's recharge benefit is truly unlimited.
• Covers Related and Unrelated Illnesses: The feature covers everything, whether it's a relapse of an earlier condition or a completely new diagnosis.
• 100% Recharge Each Time: The recharge is for the entire Sum Insured, not a percentage or partial amount.
• Applies to Multiple Hospitalisations: Frequent hospital visits? No worries. Each one gets coverage without digging into your pocket.

How Unlimited Recharge Benefit Works?

Unlimited Recharge is the best option when buying health insurance for parents. It ensures you never run out of coverage, no matter how often your parents are hospitalised in a policy year. Let's learn more about the automatic recharge with the following illustration:

Note:

• Policy SI = ₹10 lakh
• We have assumed that there are no deductions in the claim.
• Claims can be made for related and unrelated illnesses.
• The maximum amount in the claim is equal to the Base Sum Insured + Accrued CB (if any) + Accrued CB Super (if any)

Must-Know Facts about Unlimited Automatic Recharge

When choosing the right health insurance for parents, one of the most valuable features you can look for is Unlimited Automatic Recharge. However, there are several important points that you should know about the recharge:

• Automatic recharging only occurs when your No Claim Bonus and sum insured are completely used up during a policy year.
• Automatic recharging is only available for future claims; it is not accessible for previously covered claims.
• No medical expense associated with a prior claim in the same policy year that has already been covered may be used for automatic recharge.
• An automatic recharge cannot exceed the sum insured value during a policy year.
• You are not eligible for automatic renewal if you only file one claim within a policy year.
• If a claim does not use the entire amount of the automatic recharge, the remaining amount may be used throughout the policy year until it is used up.
• The amount of the automatic recharge cannot be carried over to the following policy year if it is not used up in a given policy year.
• There is no capping or sub-limit on the number of times your Sum Insured (SI) is recharged during the policy year.
• The recharge triggers automatically when the base SI is exhausted; no need to request it manually.
• The benefit is built into the policy; you don't pay extra for each recharge.
• Useful if both parents are covered under a family floater, as claims by one won't limit the other's protection.
• It becomes active from day one.

The Importance of Recharge in Elderly Health Plans

When you choose health insurance for parents above 50, multiple health episodes in a single year become more common. A one-time coverage limit doesn't offer enough protection:

With Unlimited Recharge, you can:

• Eliminate the risk of coverage exhaustion
• Avoid policy disputes or claim rejections due to insufficient balance
• Ensure continuous access to treatment for multiple family members (if they are covered under a family floater)

Why is Care Health Insurance a Smart Choice?

If you're looking to buy medical insurance for parents, Care Health Insurance offers a perfect blend of flexibility, innovation, and reliability. The Care Ultimate and Care Supreme plans are meant to meet the needs of modern healthcare, particularly for elderly patients with chronic illnesses or recurrent medical issues. Let us examine Care Ultimate and Care Supreme:

Care Supreme

• Ideal for those looking for affordable yet comprehensive parental insurance plans like Supreme Senior
• Includes Unlimited Automatic Recharge
• Offers optional add-ons like No Claim Bonus Super, OPD Cover, and many more.

Care Ultimate

• A more robust plan with extensive features like Tenure Multiplier, Money Back, and Loyalty Boost
• Includes air ambulance, OPD, and Unlimited Automatic Recharge
• Designed for those seeking the best health insurance policy for parents with maximum protection

Benefits Beyond Recharge

While the focus here is on the Unlimited Automatic Recharge, both plans offer a suite of other parent-centric benefits:

• Cashless Hospitalisations in a vast network of over 21700+ hospitals
• Annual Health Check-ups for early detection of illnesses
• Daycare procedures covered
• Alternative Treatments like AYUSH included
• Pre and post-hospitalisation expenses covered (up to 60/180 days)

>>Read More: What is Health Insurance for Parents?

Don't Just Buy, Buy Smart

Your parents took care of you without ever worrying about the cost. Now it's your turn to buy health insurance for parents that does the same for them. Medical emergencies are unpredictable and often happen more than once a year. With Unlimited Recharge from Care Health Insurance, you're buying certainty. No matter how many times they need hospitalisation, they will never run out of coverage.

This isn't a feature, it's a lifeline. Hence, the next time you think about buying medical insurance for parents, remember, it's not just about the sum insured. It's about how often the sum insured can stand up for you. 

Disclaimer: All plan features, benefits, coverage, and claims underwriting are subject to policy terms and conditions. Kindly refer to the brochure, sales prospectus, and policy documents carefully.