There are different details to be checked when selecting a
health insurance for your parents. Let us go through details of aspects you
must check in this Indian Money review
of health insurance plans.
Health Insurance for Parents
Age Limit | Pre-existing Illness | Co-payment
Factor #1: Age Limit
Select a plan where entry is allowed up to 60 years and make
sure the plan provides guaranteed and lifetime renewability. This is due to the
fact that many insurance companies do not allow renewal of a plan after a
specific age limit.
Here, it is important to keep note of the fact that as per
IRDA guidelines, a senior citizen can take a health insurance up to the age of
65.
Factor #2: Pre-existing
Illness
According to C S
Sudheer, Indian
Money review Bangalore CEO, you must ensure that the plan you are selecting
will be covering critical illnesses and pre-existing disorders.
Additionally, you need to choose a health insurance in which
waiting period for pre-existing diseases is lowest.
Factor #3: Co-payment
Only few companies agree on insuring senior citizens if no
one is selected for co-payment. Co-payment refers to mode of payment where it
is necessary for insured to pay specific amount out of the claimed amount.
Some of the insurers make it compulsory for senior citizens
to opt-in for co-payment if the person is above a specific age. You need to
keep note of the fact that if a plan is selected with co-payment then the premium
stays low.
According to Indian Money review of health insurance plans,
one thing you should keep note of is that avoid plans where co-payment amount
is very high since in such situation you will have to bear a high cost when a
claim occurs.
Your parents need health insurance and it’s your duty to
choose health insurance for your senior citizen parents. Want to know more
on Health
Insurance Plans? We at IndianMoney.com will make it easy for you. Just give
us a missed call on 022 6181 6111 to explore our unique Free Advisory Service.
IndianMoney.com is not a seller of any financial products. We only provide FREE
financial advice/education to ensure that you are not misguided while buying
any kind of financial products.
08042687207
No comments:
Post a Comment