Why Should You Include Your Parents in Group Health Insurance?

HEALTH INSURANCE



Corporates offer group health insurance to their employees. Under which they can cover their dependent parents, spouse, and children. It is the initiative that companies take to maintain the well-being of their workforce. It keeps them motivated to give their best shots without worrying about their healthcare expenses. These days investing in a mediclaim policy for parents becomes imperative, but sometimes pocket does not allow you due to your other financial liabilities. In such a situation, group health policy plays an important role. It saves not only you but also your parents during a medical emergency. Let’s understand its benefits in detail:

How is Group Health insurance Beneficial for Parents

Suppose you are sole bread earner of your family and have dependent parents, wife, and children, its advisable to include them under group health insurance. Read below its benefits:

Affordable Premium- The premiums for group health policy is comparatively low. You get the coverage for all your family members while paying only one premium. It does not burden your pocket, and you do not need to borrow money from others for your parent’s treatment.  

No Pre-Policy Medical Checkup- Your parents do not need to undergo any pre-policy medical checkup and avail of hassle-free coverage from day one. No information related to past medical history is required. 

No Waiting Period- This is the foremost significant benefit of a group health insurance plan. Unlike another individual health policy, you do need to wait until the completion of the waiting period duration to make a claim. Most of the time, you and your insured family members get the coverage from day one of the policy issuances.   

Coverage for Pre-Existing Diseases- It is another crucial benefit of an employer’s health insurance. If your elderly parents already have any pre-existing conditions such as diabetes, hypertension, or BMI, then also they get coverage without any waiting period. It means they can undergo treatment for such pre-existing diseases and avail the claim. 

Therefore, group health insurance has a host of benefits for parents. However, you can avail of the coverage under the employer’s health insurance until you are working for the same company. The main disadvantage of group health policy is that when you left your job, your policy also gets canceled. You cannot make any claim if any medical emergency occurs. So, to avoid such a debilitating situation, it is always advisable to cover your parents under senior citizen health insurance. 

CHI brings you Care-Freedom- ideal medical insurance for senior citizens.  Ideally, you should include your parents under group health insurance and opt for Care Freedom as additional health insurance to ensure adequate healthcare coverage for your parents.

Benefits of Senior Citizen Health Insurance

  • Coverage for an in-patient hospitalization, pre and post hospitalization expenses, domiciliary hospitalization, daycare treatment, and ambulance cover
  • Provide a cashless hospitalization facility at 7800+ network hospitals
  • Offers optional covers for regular consultation with a network service provider, homecare, and Diabetes or Cardiac health checkup 
  • Special features are no pre-policy medical checkup, lifelong renewability, annual health checkup and recharge of sum insured
  • Freelook period and Tax benefits under Section 80D
  • Available online at Affordable premium 

Thus, the choice is yours; you want to stay anxious every time about their health or put some little effort to provide them protection with senior citizen health insurance.