Parents Health Insurance

Dependent parents, who are in their older ages, need a health insurance plan. They, being old, face a lot of health related issues and need frequent medical attention. If there are no existing health ailments, your parents are exposed to high health risks due to their advanced age. Since medical costs are rising steadily, meeting your parents’ healthcare expenses might put strain on your finances. That is why it is better to insure your parents under a health insurance plan.

In a normal health insurance plan, there is, usually, a maximum entry age up to which the policyholder can buy the plan. In most plans, the entry age is restricted to 60 or 65 years of age. What about individuals who are older? Can they get health insurance coverage?

Senior citizen health plans

Senior citizen health plans are specially designed health insurance plans for parents which are available for older individuals only. The coverage features are designed keeping in mind the needs of individuals in their older ages.

Common coverage features

A parents health insurance plan would have the following common coverage features:

  • Inpatient hospitalisation

    If the insured is admitted to a hospital for at least 24 hours, the plan pays the costs incurred on room rent, nurse’s fee, doctor’s consultation fees, surgeon’s fee, expenses incurred on blood and medicines, etc.

  • Pre-hospitalisation expenses

    Expenses incurred before being actually hospitalised are called pre-hospitalisation expenses. Parents’ health plans cover pre-hospitalisation expenses for up to a specified number of days.

  • Post-hospitalisation expenses

    If ambulance charges are incurred in transporting the insured to the hospital, such costs are covered up to a specified limit

  • Ambulance charges

    If you have a family floater health plan, check whether any family member is to be added or deleted from the coverage. In case you have a baby and want to cover your newborn or you want to include your dependent parents in the cover, you can do so at the time of renewals. Moreover, deletion of family members, like dependent parents or adult children can also be done at renewals.

  • Day care treatments

    Treatments which do not require a 24-hour stay in the hospital due to advancement of medical technologies are called day care treatments. These treatments are also covered in health insurance plans for parents.

  • Domiciliary treatments

    Some parents health insurance plans offer coverage for treatments taken at home. Such treatments are called domiciliary treatments. However coverage is available only if such treatments are taken due to non-availability of hospital beds or if the insured was in no condition of being transferred to a hospital for treatments.

  • Organ donor treatments

    Under some plans you can also find coverage for expenses incurred in harvesting an organ from a donor for organ transplant treatments.

  • No claim bonus

    If no claim is made under the health insurance plan in any policy year, there is a no claim bonus which is allowed to the policyholder. Under this bonus, either the sum insured increases at the same rate of premium or the policyholder is allowed a discount in the renewal premium.

Features of parents health plans

Parents health plans, providing medical insurance for parents above 60 years of age, have some distinguishing features. These features are as follows:

  • Restricted sum insured

    Health insurance plans for parents come with a limited amount of sum insured. Since insurance companies know about the high health risks which are associated with older age individuals, the coverage amount is restricted. You can avail coverage for up to a maximum of Rs.10 lakhs under most parents’ health insurance plans.

  • Co-pay ratio

    Every health insurance plan, which covers individuals over 60 years of age, comes with a co-pay ratio.

    Since plans for parents cover parents over 60 years of age, there is a co-pay ratio in all plans. Co-pay means sharing of the claim. In case of any claim made under the plan, a part of the claim would be payable by the policyholder. The co-pay ration denotes the portion of claim payable by the policyholder. If the ratio is 10% the policyholder would have to pay 10% of the claim amount from his own pockets.

  • Waiting period for pre-existing illnesses

    Pre-existing illnesses are covered after a short waiting period in parents health insurance plans. Since the plan is meant for parents above 60 years, the waiting period is kept low so that coverage can be made available from the earliest possible date.

  • Discounts

    You can get multiple discounts in parents plans for:

    • Choosing long term
    • Including spouse under the cover
    • Buying the policy online
  • Pre-entrance medical check-ups

    The insurance company might require the insured to undergo pre-entrance medical check-ups before the policy is issued. These medical check-ups are done on the cost of the policyholder. When the policy is issued, 50% or 100% of the costs incurred on the check-ups is reimbursed back by the insurance company.

How to buy health insurance for parents

Health insurance for parents should be bought only after comparing. Comparing lets you select the most suitable plan from a list of available plans. To compare, look at the following parameters:

  • The allowed limit of sum insured

    Since the sum insured under parents plans is limited, look at the maximum sum insured allowed.

  • The co-pay ratio

    Co-pay is that percentage of claim which is payable by you. When comparing, opt for the lowest co-pay ratio to reduce your claim burden.

  • Available discounts

    Choose a plan which offers the maximum possible discounts

  • Pre-existing waiting period

    If your parents have pre-existing illnesses, the same would be covered after a waiting period. Compare the applicable waiting periods of different plans and choose the lowest period.

  • Restricting coverage limits

    The sub-limits of the coverage features should also be compared. You should try and opt for a plan which has the highest limits.

  • Coverage features

    Opt for a plan which offers the most inclusive coverage features. Besides comparing the different plans, you can also enhance your health insurance plan with super top-up plans. this would increase the coverage of your existing health insurance plan and you would be able to meet the health insurance needs of your parents.

How Turtlemint helps in buying health insurance for parents?

Turtlemint is an online platform which allows you easy purchase of a health insurance plan for parents. It is tied up with all the leading health insurance providers in India which provide a health insurance plan for parents above 60 years of age. By simply visiting Turtlemint’s website and entering in the relevant details, you can find the different plans available for parents. You can then compare the available plans and shortlist one which fulfils your requirement.

Turtlemint also helps in settlement of health insurance claims. They have a dedicated claim settlement team which gets your health insurance claims settled quickly.

Companies offering health insurance for parents in India

Name of the insurance company Name of the plan Salient features
Apollo Munich Health Insurance Optima Senior
  • Medical e-opinion in case the insured suffers from a critical illness during the policy tenure
  • Entry age is from 61 years onwards
  • Sum insured up to Rs.5 lakhs
  • Cashless treatments at more than 4000 hospitals across India
  • Domiciliary and organ donor treatments covered up to the sum insured
  • 5% premium discount as no claim bonus
Bajaj Allianz General Insurance Company Silver Health Plan
  • Sum insured up to Rs.5 lakhs
  • Entry age up to 70 years
  • Waiting period of 1 year for pre-existing illnesses
  • 130 day care treatments are covered
  • Free health check-up once in four policy years
  • Cumulative bonus of 10% increase in sum insured for not making a claim
  • Premiums starting from as low as Rs.2000
HDFC Ergo Health Insurance Plan for senior citizens
  • No entry age limits
  • All day care treatments are covered
  • Availability of critical illness add-on
  • Hospital cash and recovery benefit
  • AYUSH treatments are also covered
New India Assurance Company Ltd. Senior citizen mediclaim
  • Entry age up to 90 years
  • AYUSH coverage available
  • Sum insured of Rs.1 lakh and Rs.1.5 lakhs
  • 10% family discount for covering spouse
Universal Sompo Senior citizen health insurance
  • Entry age up to 70 years
  • Free health check-ups every 3 policy years
  • Expenses of accompanying person is also covered
  • Critical illness rider available
  • Sum insured up to Rs.5 lakhs
Star Health Senior citizens red carpet insurance plan
  • Entry age from 60 years to 75 years
  • Waiting period of 1 year
  • No pre-entrance medical check-ups
  • Sum insured up to Rs.10 lakhs
TATA AIG General Insurance Medi Senior
  • Entry age from 61 years onwards
  • Coverage for organ donor expenses
  • 140 day care procedures are covered

FAQs

Co-pay is the portion of claim which is payable by the policyholder. The insurance company covers the remaining claim only


You can avail a discount for choosing long policy tenure, for including the spouse, for buying online and also for not making a claim in the policy year


No, usually, parents’ health plans are offered on an individual sum insured basis only


Pre-existing illnesses are covered after a waiting period of 1 year to 4 years depending upon plans


Yes, a free-look period of 15 days is allowed for cancelling the plan after it is bought


Yes, the policyholder pays for the pre-entrance medical check-ups which might be later reimbursed if the policy is issued.