Health Insurance for Parents

[Shadab_1]

Hi everyone.
My parents around 60 years and they don't have any health insurance. I want to buy one for them. Since the requirement for myself and my parent's insurance would be completely different It would be really great if someone can clarifiy the following points:

1. What are the key points that I should keep in mind while looking health insurances for them (something like Zero waiting period for existing disease)?
2. What health insurances does your parent have?
3. How much premium should I expect for it ?
4. Are all Health Insurance pan India or depends on them?

 

[caabhi]

If you are employed in some corporate, try to check with your employer if there is group health plan. It is cheaper and easier to cover parents and include the pre-existing illness cover in group plans.

 

[Shrinit Padwal]

I have bought insurance for my parents same age group 60+ got a 10 lac health insurance from HDFC ergo which costed me around 60k per year. You can get some other companies insurance at cheaper rates.
Here are the things I looked for when searching for insurance
1. No room rent limit
2. Checking the copay clauses
3. Pre and post hospitalization facilities
4. Availability of network hospitals in your current City
5. Depending on your insurance company and location can check regarding the Pan India facilities.

Always remember ask for quotation from 2-3 companies and then compare and decide. Insurance company will always try to sell their insurance, but see what benefits you the best.

Also check out YouTube for insurance videos for parents. I also did get in call with Ditto insurance just to understand the basics of what I should look for in parents health insurance

 

[Shadab_1]

If you are employed in some corporate, try to check with your employer if there is group health plan. It is cheaper and easier to cover parents and include the pre-existing illness cover in group plans.

My company's health insurence doesn't cover my parents, so I declined that one

 

[Shadab_1]

I have bought insurance for my parents same age group 60+ got a 10 lac health insurance from HDFC ergo which costed me around 60k per year. You can get some other companies insurance at cheaper rates.
Here are the things I looked for when searching for insurance
1. No room rent limit
2. Checking the copay clauses
3. Pre and post hospitalization facilities
4. Availability of network hospitals in your current City
5. Depending on your insurance company and location can check regarding the Pan India facilities.

Always remember ask for quotation from 2-3 companies and then compare and decide. Insurance company will always try to sell their insurance, but see what benefits you the best.

Also check out YouTube for insurance videos for parents. I also did get in call with Ditto insurance just to understand the basics of what I should look for in parents health insurance

HDFC ergo is one of insurance that I have kept along with Star Health / Navi Health insurance (not Navi bhuma) Care Supreme. Acko offers unlimited cover but it is new, so not sure how good that would be.

In addition to your points, I'm also looking for a insurance which offers Cashless one

 

[akashasnani]

60k - 70k seems very big.

 

[Shrinit Padwal]

Depends on age bracket. If parents are 60+ will cost a lot. Companies have certain brackets depending on age ranges. When you go from 59 to 60, or 60 to 61, premium jumps a lot.

60k - 70k seems very big.

Also you can get a discount if you pay 2 years or 3 years at once