Why is a Separate Health Cover Better than Family Floater Policy for Senior Citizen Parents?


why is a separate health cover better than family floater policy for senior citizen parents

It is a joy to have grandparents or elderly parents at home. They always guide us through every life experience and shower their blessings upon us. However, young people also have some responsibilities towards their senior citizen parents, that of ensuring their overall well-being. It also includes getting the right health insurance coverage that would protect and enable them to deal with an unforeseen medical emergency. Health insurance for parents is essential if we note the fact that age-related health issues are bound to occur, and proper health care is the best way to avert health-related complications.

If you have covered your parents under a family health insurance plan, then it is time to rethink and make a change. The health of every member of our family is essential. Yet, the elderly deserve specialised care and medical attention since ageing poses a lot of health risks. It also implies that their insurance needs would also be different. So, while a family floater plan may provide coverage for medical expenses but buying a customised senior citizen health plan has its advantages, one cannot ignore. 

Here are some reasons why a separate health cover is a better option than just including your parents under a family floater policy: 

Affordable Premium Lowers your Annual Expenses

In a family health insurance plan, the premium cost is based on the age of the oldest member of the family. Among other factors, age is a vital factor that can affect the premium amount that you pay regularly. If you are young, let’s say in your 30s and have a family floater policy that covers self, spouse, and dependent children; then, adding senior citizen parents under an existing family floater policy will increase the premium costs.

Compared to this, buying a senior citizen health insurance plan will secure your parent’s health in the best way possible as these plans are customised according to the specific needs of older individuals. This way, the policy, and the premium cost will also be affordable.

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You Get Adequate Coverage for Medical Treatment

Most of us have experienced how long-term medical treatment can lead to considerable loss of financial savings. It is particularly true when there is someone in the family with a serious medical condition. The healthcare costs in India are rising, and we can expect it to be higher in the future. Thus, the higher the coverage amount of a medical insurance policy, the better it is. Your existing family floater policy may prove inadequate, keeping this in view. So, it is wise to buy a separate Health Insurance for Senior Citizens as it would offer a high sum insured that will be available for your senior citizen parents only.

Additional Features that Prove Beneficial

No claim bonus is a benefit where the insured is eligible to get an increased sum insured if no claim was made in the policy year. Under a family floater policy, there is a possibility that a member makes a claim if it is so, then the benefit will not be available in the particular year. Just like a family floater policy, a senior citizens health cover also offers beneficial features such as annual health check-up, automatic recharge of sum insured, and no claim bonus. Your elderly parents can be worry-free about availing these features. 

Also, many elderly individuals believe in the power of alternative medicine. A health plan for senior citizens will also offer alternative treatment cover. With a customized health cover, senior citizens can rest assured that their health care expenses will not create any financial difficulty.

You can depend on Senior Citizen Health Insurance Plans by Care Health Insurance as they offer the right protection with a higher sum insured. Besides, you can avail of the numerous benefits, including in-patient hospitalisation, annual health check-ups, and alternative treatment cover.

Disclaimer: Plan features, benefits, coverage, and underwriting of claims are subject to policy terms and conditions. Please refer to the brochure, sales prospectus, and policy documents carefully.

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