Health Insurance for Parents
What is Individual health insurance for parents?
Health insurance for parents is a type of medical insurance policy that provides coverage for the healthcare expenses of senior citizens, typically those aged 60 years and above. The policy is designed to cater to the healthcare needs of parents or elderly family members, covering the cost of hospitalization, diagnostic tests, doctor consultations, surgeries, and other medical expenses.
Hospitalization expenses
Covers the cost of hospitalization, room rent, ICU charges, nursing expenses, and doctor consultation fees.
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Pre- and post-hospitalization expense
Covers expenses incurred 30 days before and 60-90 days after hospitalization, including diagnostic tests, consultation fees, and medication costs.
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Day-care procedures
Covers the cost of medical treatment that does not require hospitalization for more than 24 hours.
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Ambulance charges
Covers the cost of ambulance service required for medical emergencies.
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Domiciliary hospitalization
Covers the cost of medical treatment received at home that would otherwise require hospitalization.
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Doctor visits
General physician, specialist, paediatrician, anaesthetist, nutritionist, etc are covered
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Ayush Treatment
Some insurance companies, will provide for cover for treatment provided under Ayurveda, Yoga, Naturopathy, Unani, Siddha and Homeopathy.
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Add-On covers in Health Insurance for Parents?
Critical illness cover
Covers the cost of treatment for critical illnesses such as cancer, heart attack, and stroke.
Hospital cash cover
Provides daily cash allowance to the policyholder for each day of hospitalization.
Personal accident cover
Provides coverage against accidental injury or death.
Hospital cash benefit
This provides a daily cash benefit for hospitalization to cover additional expenses such as transportation and food.
What Is Not Covered in Health Insurance for Parents?
Pre-existing diseases or conditions that were diagnosed before the policy was purchased.
Cosmetic or aesthetic treatments.
Self-inflicted injuries or illnesses.
Injuries or illnesses resulting from the use of drugs or alcohol.
Why do you need a Health Insurance for Parents?
Rising healthcare costs
With age, the risk of developing health issues increases, and so does the cost of treatment. Health insurance for parents provides financial protection against such expenses.
Peace of mind
Knowing that your elderly family members have access to quality healthcare without worrying about the cost can provide peace of mind.
Tax benefits
Premium paid towards health insurance for parents is eligible for tax deductions under Section 80D of the Income Tax Act.
Key Highlights of an Individual Health Insurance policy?
Coverage for pre-existing illnesses after a waiting period
In a few cases, waiting periods can be reduced or waived.
Option to add family members to the policy
Some policies allow adding grandparents in the insurance coverage.
Cashless hospitalization in network hospitals
The insured do not have to spend anything out of pocket during hospitalisation
Lifetime renewability
No age limit due to the nature of the insurance.
Cashless hospitalization
No medical tests required up to a certain age
How To Buy Online Policy from PolicyLeader?
1. Visit the PolicyLeader website
Go to the PolicyLeader website (www.policyleader.co.in) and select "Health Insurance for Parents" from the list of insurance products.
2. Provide personal details
Fill in your personal details such as name, age, and contact information. You may also be required to provide details about your medical history.
3. Choose a policy
PolicyLeader offers a range of individual health insurance policies from various insurance companies. Review the policy details, coverage, and premium amounts to choose a policy that best meets your needs.
4. Compare policies
Use the comparison tool to compare policies from different insurance companies based on factors such as premium, coverage, and exclusions.
5. Customize your policy
You can customize your policy by adding or removing riders (add-on covers) to suit your specific needs.
6. Pay the premium
Once you have chosen a policy, pay the premium online using a debit card, credit card, or net banking.
7. Receive the policy documents
After the payment is confirmed, the policy documents will be emailed to you. The policy documents will contain all the details of your policy, including the coverage, exclusions, and terms and conditions.
How to file Claim for Health Insurance for Parents?
1. Notify the insurance company
As soon as you are aware of the need to file a claim, notify the insurance company by calling their customer service or through their website. Provide details such as policy number, name of the insured person, date of hospitalization, and reason for hospitalization.
2. Submit the claim form
Fill in the necessary details and submit it along with the required documents to the insurance company.
3. Provide necessary documents
The insurance company may require documents such as hospital bills, medical reports, discharge summary, prescription receipts, and diagnostic reports to process the claim. Ensure that you have all the necessary documents and submit them along with the claim form.
4. Wait for claim approval
The insurance company will review the claim and verify the documents submitted. If the claim is approved, the insurance company will reimburse the medical expenses as per the terms and conditions of the policy.
5. Cashless claims
If the insured person has opted for cashless hospitalization, the insurance company settles the bills directly with the hospital. However, ensure that the hospital is part of the insurance company's network and follow the necessary procedures for cashless claims.
Documents Required for Health Insurance for Parents?
- Identity proof: PAN card, Aadhaar card, passport, voter ID, driving license, etc.
- Age proof: Birth certificate, school leaving certificate, passport, Aadhaar card, etc.
- Address proof: Aadhaar card, passport, driving license, utility bills, etc.
- Medical reports: Reports related to pre-existing medical conditions, if any.
- Income proof: Salary slips, ITR statements, bank statements, etc.
- Policy application form: Filled and signed policy application form.
- Passport-sized photographs: Recent passport-sized photographs of the policyholder.
- Cancelled cheque: For policy premium payment through ECS.
- Other documents: Any other documents as requested by the insurance company.
Why should you choose PolicyLeader for buying Health Insurance of Parents?
Instant claim support
PolicyLeader offers instant claim support to ensure that the policyholders can receive timely assistance in case of any medical emergencies. They have a dedicated customer support team that is available round-the-clock to assist with claim-related queries and guide the policyholders through the claim settlement process.
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Schedule a home visit with our advisors
PolicyLeader provides the convenience of scheduling a home visit with their advisors to discuss the policy options, understand the individual's needs, and help them choose the best policy that suits their requirements. This service is particularly beneficial for those who are not comfortable with online transactions or prefer face-to-face interactions.
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Customised 1:1 planning
PolicyLeader offers customized 1:1 planning to ensure that the policyholders get the best possible coverage as per their specific requirements. Their experienced advisors analyze the policyholder's needs, assess their risk profile, and suggest the most appropriate policy options that offer comprehensive coverage at affordable premiums.
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Multiple Insurers Under One Roof and Insurance Brokers in Gujarat and around the country
PolicyLeader has tied up with multiple insurers and offers a wide range of policy options under one roof. This ensures that the policyholders can compare and choose from the best policies from leading insurers. Additionally, they have a strong presence and experienced insurance brokers in Gujarat and around the country, providing personalized and professional service to the policyholders.
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