Your parents have given you every possible thing that you have asked for, be it a lighting ball that fascinated you or branded clothes. They were always there at your beck-and-call and have even endured the sleepless nights when you got sick. They have always provided you with the best of things, keeping you covered with multiple backups.
Now that your parents are getting older day-by-day, their health might also be deteriorating. It’s your time to look after them covered from unannounced health emergencies. If you feel you won’t be able to afford the cost of high-quality healthcare treatments for them, buying health insurance for senior citizens is a must.
There are several different health insurance plans available in the market, which might create confusion in your mind. Alongside, there is also a risk that you end up buying a wrong policy that does not fulfill your needs. So, it is crucial that you select the rightmost health insurance plan for your parents.
Here is what you need to know while buying a health insurance policy for senior citizens:
#1. Right Choice of Plan
When you search for a health insurance plan in the market, you will find a plethora of y options available. One way to ensure good health of your parents is by including them in your family health plan. But this will increase the total premium to be paid considerably as per the age of all the insured members. As per their health condition, your parents can get the benefits of insurance coverage for regular health checkups or treatments.
Otherwise, you can choose a separate health insurance plan for senior citizens for your parents with adequate coverage and many other benefits.
#2. Existing Ailments
Often, people face hassles while getting the insurance claim settled because they have chosen a plan that does not cover pre-existing diseases or ailments. Getting to know this at the time of a medical emergency can create a sudden financial burden.
You do not want this to happen to you. To be at the safe side, look out for a perfect plan that covers existing ailments that your parents suffer from. It will reduce the chances for them to hit a pre-existing illness wall.
You must be prudence about whether the policy excludes existing illnesses or cover it with a waiting period that varies as per the policy’s terms. You may even come across a plan whose coverage varies based on the ailment.
#3. Network of Hospitals
Every health insurance company has its network of hospitals wherein the policyholders can get cashless facility for medical treatments. This facility is highly advantageous as you need not carry a big amount in cash to pay the medical bills.
So, it’s essential to know about the network of hospitals before opting for Health insurance for senior citizens from a specific insurer. You must take into consideration the distance from your home, treatments offered and other medical facilities.
This will ensure that at the time of emergency, your parents get the necessary treatment without facing any inconvenience.
#4. Right Coverage Amount
As your parents are getting older, whether or not they have a medical history, you should always be prepared for unannounced emergencies. You must have the right coverage amount to tackle them so that it doesn’t feel heavy on your pockets, and they get the required treatment on time.
#5. Budget
Another factor you should keep in mind while opting for health insurance for senior citizens is your budget. Buying a basic health insurance policy is essential.
If your budget allows, then you can choose add-ons into your parent’s health insurance policy for additional benefits.
Planning is never enough. No one can compromise health when it comes to family members. Ensuring good health for your parents becomes easier when you buy health insurance for senior citizens from a renowned insurer like Tata AIG. It’s time for you to give the best medical facilities to your parents with the right insurance plan.
