Hyderabad: A pertinent query would rise in everybody's mind on what is the purpose of health insurance. What is the need to waste money on premiums every year? These were thoughts associated with insurance policies in the past. But, one pandemic changed things upside down and forced people to realise the importance of insurance cover. Also made them understand that elders and parents should be 'covered' at all costs. Undeniably, an insurance policy is the best gift you can give to your parents.
Many employers have brought in group health insurance policies for the benefit of their employees. These policies not only cover the employee, but also his family and parents. Although certain companies have not implemented it yet, nevertheless, you should take it personally to protect your parents.
Parents have sacrificed a lot for us, it is time for us to repay them. So, it becomes more of a responsibility to take care of them after their retirement. They could lead peaceful life if they are provided with financial stability. With age mounting on them, it could lead to some health issues. During such time, they would remain confident and fearless if they are protected by a policy. Truly, a gift that fetches them loads of happiness.
Reliable company
These days there are many companies, which offer personal policies as well as for children and parents with almost similar benefits. Among these, how to find a policy that fits our requirements, is a million-dollar question. While availing of an insurance policy for parents, enquire about the services offered by the respective insurers. Know the claim payout pattern and performance of the insurance company. Finding out these details is not difficult but needs a bit of research. You can also visit the IRDAI website to know the claim payment process.
For appropriate amount
It is well known that old age is besieged with health woes. Parents could be already suffering from diabetes and blood pressure besides lifestyle diseases. So, better keep these things in mind while availing of a policy for senior citizens. A shorter waiting period, eligibility for treatment of mental illnesses, annual medical check-ups, and daily treatments should be ticked. Some insurers offer additional value-based services and these things are to be properly examined. Also tick a policy that does not have any sub-limits in terms of critical illness, OPD cover, and room rent. Keeping in mind the soaring medical costs, ensure an insurance policy with the appropriate amount.
