Why it is important to cover your parents

Insurance

oi-Sneha

By Deepak Yohannan

Updated: Tuesday, September 18, 2012, 10:54 [IST]

In today's world, most children leave home and settle abroad or in different parts of the country in search of better career opportunities. While this is a matter of pride for any parent, the fact that they feel insecure about their health and finances living alone cannot be denied. Not only the parents, but their children also worry about their well being. As a result, health insurance plans for parents prove to be wonderful tools that help in managing the health costs of the seniors while they need it the most.

If you are looking to cover your parents under a health insurance plan, you must be aware of the various policies available and more importantly, you must know what exactly they offer and what they hold back. Listed below are some important pointers that you should remember before you purchase a health insurance policy for your parents.

1. Age limits - If your parents are below the age of 60, it will be easier for you to get an insurance cover for them. However, if they are above 60, it may become difficult to get a cover. This doesn't mean that you will not find any policy, just that you may have to pay more. Different insurers offer different terms and the maximum age for buying and renewing the policy is clearly stated. So make sure you are aware of these numbers. Try to get a policy that offers renewal at a higher age.

2. Comprehensive coverage - Until recently the health policies did not cover a number of chronic and pre-existing illnesses for seniors. However, after a ruling, this has been altered and the insurers now cover expenses related to illnesses such as high BP and diabetes. To avail of such privileges you may have to pay a higher premium amount, but it is advisable that you do. After all, you would strive to comprehensively cover your parents so that they do not face any problems in your absence or otherwise.

3. Cashless mediclaim - This is a very useful feature, especially for your parents. When purchasing a health insurance policy for your parents, try to get a cashless facility along with it. With this, your parents won't have to worry about making payments at the time of hospital admission or discharge. This proves to be useful in emergencies when they are left to handle a number of things, including trauma, all at once, and so being free of financial worries is very helpful.

Purchasing a health insurance policy for your parents is not only important, it is an absolute necessity. Ask your agent or compare the various policies online and settle for the policy that suits you the best. Pre-insurance medical tests are mandatory for seniors so make sure they are done accurately. This is again a very vital step as only after a thorough medical check can you be sure of the exact ailments and how and what needs to be covered. Get your parents covered. This is the least you can do for the very people who gave you all the comforts of life while you were growing up.

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