Health Insurance for Parents

Why do you need Medical Insurance for Parents?

Seeing parents grow older is bound to have an emotional impact on most of us. Also, we realize that our parents require constant support and timely care for a happy and healthy life during old age. While we shover them with abundant love and care, offering financial support can become challenging, especially during medical emergencies. Your parents may be dependent on you monetarily. Besides, getting quality medical treatment in India is an expensive proposition. That is why you need a support system to safeguard your family’s future in times of adversity.

A health insurance policy for parents acts like a safety cushion that lets your loved ones manage health crises without worrying about expenditures. Also, a good healthcare cover enables you to get quality medical care to treat your parent's illnesses most affordably. As ageing people are at a greater risk of facing illness and poor health conditions, it is wise to opt for condition-specific health insurance plans for parents. Moreover, the chances of hospitalization due to a pre-existing medical condition, chronic ailments, or surgeries are higher in old age. These health insurance plans offer various financial benefits and thus let you focus on delivering care and comfort to your parents.

How to Choose the Best Health Insurance for Parents in India?

There are different health insurance plans you can get for your parents. However, a suitable health insurance policy must include coverage for pre-existing diseases, cashless hospitalization, and a higher sum insured. Consider these factors when buying a health insurance plan for your parents:

• Check the Entry Age Criteria: You can easily find health insurance plans for parents without any restriction on the maximum entry age. However, to get a senior citizen health insurance policy, an individual should be at least 61 years or above.
• Type of Coverage: Health insurance plans have two coverage options, namely individual and floater. Depending on whether you need individual healthcare insurance or a combined one for your entire family, you can opt for the individual or floater cover respectively. We recommend opting for individual plans for parents to ensure the sum insured is sufficient in the need of the hour.
• Coverage Amount: We should look for health insurance for parents with high sum insured. When selecting a health cover for parents, ensure they get adequate coverage and protection.
• Policy Benefits: Check the benefits offered in the policy, which should include cover for modern day-care procedures, pre and post-hospitalization medical expenses, and alternative treatments.
• Co-payment: Co-payment is a mandatory aspect of medical insurance for parents. Under this feature, the policyholder must pay a certain percentage of the hospital bills. When selecting a policy, remember to opt for plans with a waved-off co-payment feature. CHI helps you to wave off the standard 20% co-payment with an add-on benefit.
• Waiting Period: While opting for medical insurance for parents in India, check for the waiting period clause. Health plans have an initial waiting period of 30 days, a 2-year waiting period for specified diseases, and a 4-year waiting period for pre-existing illnesses. When reviewing the plans, do remember that the lower the waiting period, the better it will be, so that you can get coverage without any delay.
• Renewability: The best medical insurance for parents provides a lifelong renewability option. It helps your parents in getting continued coverage in the future. Always check if the feature is available while selecting an option.
• Daycare Treatments: These days, minimally invasive surgeries, cataract surgery, chemotherapy, dialysis, etc., are possible in daycare. So, always apply for a policy that covers a maximum number of daycare treatments.
• Cashless Network Hospitals:When buying a health policy for parents, you must check the list of cashless hospitals that are included by the company. Find out the network hospital(s) nearest to your locality, so that you can get a timely and hassle-free claim for your parent's medical treatment.
• Read the policy documents: When reviewing and comparing medical insurance plans, you must carefully go through the details of your policy documents. Look for the inclusions—treatments for which your parents will be covered and the exclusions—the cases when you cannot make a policy claim.

So, look for a good mediclaim policy for parents by considering various factors such as low co-payment amount, age, policy inclusions, and exclusions, waiting period, and the premium. Make a selection of the plan that best suits your requirements and also has add-on benefits. Also, check for an easy payment mode and claim settlement process. Finally, submit the essential documents and complete the formalities on time, so the policy can benefit your parents when need be.

Why Buy Parents Medical Insurance Online?

Convenient Policy Selection

No need to schedule countless appointments for discussing policy details. CHI offers an all-digital policy selection experience wherein you can study, compare, choose, and pay for the best health insurance for parents from anywhere, anytime.

Chat Option for Queries

The CHI team is readily available for all your queries concerning the terms and conditions of our healthcare policies. You can use the live chat option to discuss any policy-related matter at your convenience.

Instant Quote Calculation

We facilitate digital premium and coverage calculators to help you opt for customised parents health insurance.

Secure Payment Modes

We provide digitally secure payment options, including credit/debit cards, or net banking. Once issued, you shall receive authentic policy documents immediately.

Transparent Policy Evaluation

What we promise on paper is what you get in times of medical and healthcare needs. Our parents’ healthcare policy comes attached with all the terms and conditions for your ready reference.

Easily Available Value Added Services

While browsing online through our healthcare policy for parents, you can easily check out other add-on benefits. These include COVID and OPD care, co-payment waiver, reduced wait time, among others to cover your specific needs.

What is Covered under Health Insurance for Parents?

Avail health cover for your senior citizen parents so that they can access the best medical facility during any emergency hospitalization. You get the choice to pick an individual or a floater option and get the following coverage and benefits:

• Hospitalization cover: The plan covers in-patient care and medical treatment expenses, including ICU charges you incur while your parents are hospitalized.
• Daycare treatments cover: Thanks to the progress made in medical science, many surgeries and treatments do not require you to stay in a hospital for more than a day. Your parents can now get coverage for modern daycare treatments- making this policy the best health insurance for parents.
• Pre and Post-hospitalization coverage: The insurance covers medical expenses, such as diagnostic tests and medication, up to 30 days before hospitalization and up to 60 days after discharge from the hospital.
• Pre-existing diseases coverage: The mediclaim policy for parents will cover treatment expenses for pre-existing diseases, subject to a minimum waiting period, ensuring that they get medical care without delays.
• Second opinion: The policyholder is entitled to get a second opinion for any major illness or injury in a policy year.
• Organ donor cover: For treating a critical ailment, one may incur organ donor expenses. We cover medical expenses up to the specified amount, subject to policy T&C.
• Automatic recharge: If you exhaust the sum insured, it automatically gets reinstated up to the sum insured per policy year, under the benefit of automatic recharge.
• No claims bonus: We reward the insured for not filing a claim. One gets a specified percentage increase in SI for every claim-free year.
• Annual health check-up: Your parents can get medical check-up benefits annually to keep a constant track of their health.