Health Insurance for Parents

Health Insurance for Parents is a customised plan tailor-made to provide medical coverage for parents. It offers comprehensive coverage against medical ailments that may arise due to old age and may result in large medical expenses. It comes with a higher sum insured and also provides lucrative benefits, such as annual health check-ups, cashless treatment, etc. to manage their medical expenses effectively. 

A health insurance policy for parents is a customized plan designed to provide medical coverage specifically for parents. This plan offers comprehensive coverage for medical ailments that commonly arise due to old age, which can result in large medical expenses. With a higher sum insured, this policy also provides attractive benefits such as annual health check-ups and cashless treatment, allowing parents to effectively manage their medical expenses.

There are several health insurance plans available that you can consider for your parents, including coverage for COVID-19 infection and other serious illnesses that can be costly to treat. In response to the COVID-19 pandemic, specific coronavirus health plans have been introduced for individuals up to the age of 65. These plans can be purchased for your parents, and the advantage is that they do not require a pre-medical screening.

However, as the age of your parents surpasses 50 years, the options for other health plans may become limited. It is important to note that purchasing a family floater mediclaim policy to cover your parents may lead to a higher premium, which is determined based on the age of the eldest parent. This is due to the age vs. health risk metrics. As the age of the parent increases, the risk factor and probability of filing a claim also rise, resulting in higher premium costs.  

Several insurance providers offer different kinds of Health Insurance Policies. Hence, you must compare and select the best plan that offers comprehensive coverage for your parents’ health-related expenses. Here are a two of the top Health Insurance Policies from various providers:

Health Insurance Policies	Age limit	Check Plans
Aditya Birla Health Active Assured Diamond Plan	61 years -  65 years
Bajaj Allianz Health Guard Silver Plan	61 years - 65 years

There are three types of Health Insurance Plans available for parents:

Individual Health Insurance Plan - 

This type of Health Insurance Plan provides financial coverage for the medical treatments of only the insured individuals.

health insurance plan for family - 

This type of Health Insurance Plan provides medical coverage to the entire family. You can buy a single plan that covers all your family members against financial medical emergencies.

Health Insurance For Senior Citizens - 

This type of Health Insurance Plan is specifically for the individuals above the age of 60 years.

Here are some features and benefits of Health Insurance Plan for parents:

• If an individual or a couple possess a Health Insurance Plan for parents give birth to a child, they can get their child covered under this plan. 

• Premiums paid are tax-exempt under section 80D of the Income Tax Act, 1961 as well as the Finance Act, 2018. The deductible amount can range between Rs. 50,000 and Rs. 1 Lakh depending upon the number of members of the family aged 60 and above. Only a few specific illnesses/diseases which they may suffer from can be considered.

• Policies are available within a wide range of coverage amounts from Rs. 1.5 Lakhs to Rs. 50 Lakhs. The policy term may also be flexible depending upon the insurance provider, with tenures of 1, 2, or 3 years.

• Free health check-ups could be availed periodically even if no claims for parents have been made.

• Expenses incurred during organ donation may also be covered as per your policy terms and conditions.

• Some pre-existing illnesses are covered under Health Insurance for parents after an initial waiting period which may vary from 2 to 3 years after purchasing the plan.

• Pre and post-hospitalisation charges would be covered for at least up to 30 and 60 days respectively.

What is Covered and Not Covered Under a Health Insurance Policy For Your Parents

Here are a few inclusions and exclusions under Health Insurance for Parents:,

Here are a few reasons why you must purchase the Health Insurance Policy for your Parents online: 

• Convenient

You can buy Health Insurance online from the convenience of your home, office, or even on the go, without having to visit the insurance company’s office or an insurance agent. The process of purchasing the Health Insurance for your parents online is simple and time-saving.

• Secured Payment

Purchasing Health Insurance for your parents online is completely safe if you buy it from a leading and trustworthy insurance company. These insurance companies rely on secured modes of payments to ensure that you are shielded from any form of cyber fraud.

• Advance Health Insurance Quote

While purchasing Health Insurance for your parents online, you get the benefit of advance Health Insurance Quotes. You can get an instant Health Insurance Quote that lists out the coverage and the premium payable just by filling in a few details like age, health etc. on the insurance company’s website. And if you are satisfied with the quote, you can proceed to buy a Health Insurance Policy for your parents. The advance quote feature is also helpful for the comparison of various Health Insurance Policies.

Tax Benefits of Health Insurance Policy for Parents

Although senior citizen Health Insurance Plans can be expensive due to age, the Health Insurance premium that you pay for them is eligible for tax exemption under Section 80D of the Income Tax Act, 1961. The table below gives an overview of the tax exemption against Health Insurance for parents:

The eligibility criteria for parental Health Insurance Plans and claims under various policies may be as follows:

• The primary policyholder must ideally be between the ages of 18-65 when first soliciting coverage in order to avoid dealing with co-payment clauses.

• They must be a resident of India.

• Usually, the maximum entry age for medical insurance for parents is generally 60-80 years for most plans.

These criteria are to be considered before buying Health Insurance for parents. Besides, the Health Insurance waiting period for certain pre-existing diseases plays a vital role in determining the policy cost. You can use the Health Insurance Premium Calculator to compute the premium of your Health Insurance Plan based on your coverage.

Here’s how you can buy Health Insurance Plans for parents

• Step 1: Go to the ‘Health Insurance Premium Calculator’ page.

• Step 2: Enter the necessary details.

• Step 3: Choose the Health Insurance plan which best suits your requirements from the list that appears. You can also enhance your coverage by selecting the add-on covers.

• Step 4: Upload the necessary documents and make your Health Insurance premium payment online.

And that’s it! Your policy will be mailed to you shortly

Here are the two ways in which you can file a claim for your parents' Health Insurance Policy:

Cashless Claim Settlement:

• Contact the insurance desk at the network hospital.
• Show your insured parent's health card for identification purposes.
• The hospital will submit the pre-authorization form to the insurance company after verifying the identity.
• The insurance company will assess the documents and process the medical insurance claim according to the policy terms and conditions.
• Once the assessment is successful, the insurance company will directly settle the expenses with the hospital.

Reimbursement Claim:

• If you seek treatment at a non-network hospital, you can raise a reimbursement claim.
• Pay for all the medical costs incurred during the treatment.
• Keep the original bills and documents.
• After the treatment is complete, submit the original bills to your insurance company to seek compensation for the incurred expenses.
• The insurance company will assess the submitted bills for verification.
• Upon successful verification, the insurance company will reimburse the amount based on the Health Insurance sum insured limit.

To check the Health Insurance claim status, you can visit your insurance company's official website.

Health Insurance Plans Available at Bajaj Markets