Can I buy health insurance for my parents? Here’s how you can save tax: On the premiums you pay for yourself, your spouse, children and parents, you can avail Rs 20per annum as a deduction against your taxes (provided you are not over years). There is also a co-payment option for health insurance policies. Also, a waiver of co-payment is available on payment of additional premium.
Your family enjoys cover from expenses incurred due to hospitalisation, doctor’s consultation, ambulance services, treatment charges and pre and post hospitalisation expenses. This plan is perfectly designed to provide cover to your parents. To get an individual health insurance plan for your parents, they will have to undergo a medical check-up. It is advisable to disclose their medical history so the insurer can calculate the correct premium for their policy. Most people tend to focus on getting a term policy for themselves or their spouses alone.
When shopping for an insurance plan, parents are often not part of the equation. Now, she can seek family health insurance for herself and include her parents in it. Also, later in life, when she decides to start a family, she can add her spouse and children in the plan by simply paying extra premiums thereon.
Medical insurance for parents cover the pre-existing diseases as well as critical diseases for your parents. The premium amount is usually lower than the private health insurance plans for individuals. Furthermore, the premium paid is tax exempt, up to a certain limit.
Moreover, children’s education bonus is also provided in case of death or total permanent disability. Instantly See Prices, Plans and Eligibility. Health insurance for parents must not be avoided in current times with the increasing dependence on private hospitals for quality treatment and rising medical costs.
By getting the best health insurance policy for your parents you can give them a secured and worry-free life in their retirement days. This is why you need to plan early to get the best health insurance policy for your parents. Some insurers offer policies which can only be renewed till a certain age.
Other than a separate insurance plan for senior citizens, your parents can also be covered under a single family floater plan. It takes care of the additional medical expenses over and above the basic sum insured. The floater policy offers cover for self, spouse, dependent parents and dependent children. Family Floater Policy. Parents and senior citizens aged between years to years can be covered under this plan to cope up with the increasing healthcare cost.
It offers wide coverage with long policy term options. Pregnancy is a special moment for every parent, so no one wants to face any trouble due to the financial crisis during this time. M-Care health insurance policy is available as a floater policy for the proposer, dependent children, spouse, or dependent parents.
This policy has a lifetime renewal benefit option available. If you are paying a premium for yourself and your parents below the age of years, then your total tax benefit limit on health insurance premium is Rs 5000. Get the Best Quote and Save Today! Entry age for children ranges from months to years.
No pre-medical tests required up to the age of years. It is wise to buy a family floater health insurance plan when it comes to protecting your loved ones on a single sum assured. There are some insurers who also cover people beyond years of age for instance Bajaj Allianz Silver Health Plan.
As parents are exposed to a different environment and are also unfamiliar with different types of travel risks, it is best to buy Bajaj Allianz visitor insurance for parents. International travel insurance will cover most of the expenses arising from unexpected accident or sickness while in a foreign country. We are all aware that health care costs are high and getting higher. Bajaj Allianz promises to stand by you during those difficult times of physical and mental stress.
Our partners, Bajaj Allianz, offer Extra Care Plus top-up plans with sum insured amounts that range from Rs. This proves to be especially helpful when your base family health insurance plan falls short. Bajaj Allianz General Insurance offers individual and family health insurance plans with coverage for a dependent child up to the age of and medical insurance coverage up to Rs.
What are your coverage options? Health Insurance for Parents – Five Things to Keep in Mind.
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