Benefits of Parents’ Health Policy
In today’s global world, migration for better opportunities is a way of life, often leaving aged parents to fend for themselves on a day to day basis. A health policy for your parents is the best way to ensure a comfortable old age, financially and physically, irrespective of which part of the world you are in. Not only will you be secure about your parents’ well being, a sound health insurance policy will impart a sense of self reliance and independence to your folks.
Why Opt For a Health Policy for Your Parents
Since most children will take care of their parents financial needs, you might ask why go for a specific health policy and get entangled in paperwork, filing and claims processes and the likes. The answer is not hard to look for.
· Lack of a regular income and inadequate pensions mean that in the event of a medical emergency, paucity of immediate funds might hinder medical treatment. A health policy takes care of all such eventualities.
· Moreover, for children living in cities different from their parents, having a targeted health policy which caters to their needs ensures prompt medical care and assured support physically, financially and emotionally.
What Benefits Accrue From a Health Policy for Parents?
· All health policies targeting parents give them access to cashless hospitalization in huge hospital networks across the country. On an average each Indian insurance firm has ties ups with 3500 to 4500 hospitals.
· The compensation offered in most parent specific health policies often includes coverage of return airfares, nursing care bills up to Rs 500 per day, limitless provisions for consultation fees or hospital charges.
· Pre-existing illnesses which are generally out of the ambit of a regular health policy are covered after multiple consecutive renewals ranging from 3to 4 years. Some companies also offer the option of automatic renewals of 2 year periods.
· Age specific medical emergencies such as cardiac diseases, strokes, all forms of cardiac surgery, renal failure, last stage liver diseases and brain tumours are comprehensively insured.
· Refunds are also provided for technologically advanced treatments which do not require extended hospitalization.
· Pre and post hospitalization expenses are accounted for ranging between 30 days before and 60 days after.
· The parent health policy also offers free health check ups after issuance of the plan.
How to Pick the Perfect Health Policy for Your Parents
There are certain factors to be kept in mind before selecting the right health policy such as:
Always check the firm’s maximum entry age since all companies have an upper age limit for a new policy and for renewal of old policies.
You should make it a point to read the fine print on coverage of existing diseases to gauge exactly when the protection for them begins and how long it stays under continuous cover.
Some firms insist on medicals for clients above 45. Your health policy will be dictated by these medicals and whether the firm is willing to bear the cost of such tests.