Which is the Best Health Insurance Plan for Parents in India?

Most Indian parents put aside a lot of their aspirations and plans till their retirement. All in pursuit of a better future for their children. As a responsible adult, it is only natural for you to wait for their retirement, so that they can take a break and do things that they really wanted to. 

However, retirement also means that they are getting a bit older. And with age comes the risk of health-related risks. A simple yet effective way by which you can let your parents relax and enjoy their retirement is by opting for medical insurance for parents. With several vendors and plans out there, it will not be a difficult task to zero down on the best health insurance for parents.

Health Insurance for Parents

For those who are wondering how to choose health insurance for parents, we have listed some of the factors that will help you get the best health insurance plan for parents in India.

1. Pre-existing conditions

Health insurance plans for parents might not cover everything from the onset. Some of the most common pre-existing conditions have a waiting period, post which the plan covers them. If your parents have any such pre-existing conditions, you should verify with your insurer before buying the policy.

2. Age Limit

As you are buying the policy for your parents, look for policies that offer the plan for people between 60 and 80 years. Also, keep an eye on the maximum age till which you can renew the policy. A policy that goes for a longer duration is advisable.

3. Cover for Critical Illness

Critical illnesses are known to impact families both financially and emotionally. If you are planning to buy health insurance for parents above 50, opt for a critical illness add-on. By paying a small premium, you can ensure there are no financial catastrophes due to critical illnesses. 

4. Exclusions

Your search for the best health insurance plan for parents in India should lead you to a policy that has minimal exclusions. Exclusions are scenarios where your health insurance plan does not work in your favor. Thus, a smaller list is desirable.

Standard Covers

The best health insurance plan for parents in India would offer the following standard covers and more.

• Hospitalization cover for admits exceeding 24 hours
• Pre and post hospitalization expenses
• Ambulance expenses
• Daycare expenses cover treatment such as dialysis, chemotherapy, etc.
• Cashless services when admitted to network hospitals

Here is a List of Some of the Best Health Insurance Plans for Parents in India:

1. Max Bupa SeniorFirst Gold Health Insurance Plan 
2. Star Health Senior Citizens Red Carpet Health Insurance Policy

Buying the best life insurance for parents has a few benefits for you. Benefits such as:

1. The policy will take care of any financial implications of health-related issues
2. The policy will enable you to focus entirely on the treatment and not constantly worry about expenses
3. Protect your parents against the constantly swelling medical expenses
4. Receive tax benefits for the premiums paid towards health insurance
5. Should you buy the policy early, you can get through the waiting period and get coverage against pre-existing conditions as well.

The above should help you to secure the best medical insurance for parents.