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What is the usual cost of health insurance policy for parents. My parents are 60 and 58 years old.

Having parents is not less than having a blessing. You always have the required support whenever you need them. But slowly, your parents move to a different stage and that is the olde age. And during this age the chances of getting ill and diagnosed are high and this growing inflation rate, the cost of treatment might create a hole in your pocket. So for the love of your parents and to stay prepared to fight against unwanted medical emergencies, you must invest in a health insurance policy. Well, the good thing is that there are many insurance plans which are specially designed to offer the needful health cover to your parents to beat unwanted medical emergencies. In this old age as well, they can avail the benefit of wider health insurance with several additional benefits. Such plans are offering a wide cover at an affordable cost. A few of plans that you can think of for your parents are Company Plan Benefits Premium HDFC ERGO Health Suraksha Co-Pay - You pay 0% of the claim Maternity - Not Covered Hospital Room - All categories No Claim Bonus - Rs 0.25L Per Year Up to 2.5L Restoration - NA   Rs. 23621/Year Religare Care with Smart Select Co-Pay - You pay 0% of the claim Maternity - Not Covered Hospital Room - Single Private Room No Claim Bonus - Rs 0.5L per year upto Rs 2.5L Restoration - Up to Rs 5L Rs. 25282/Year Aditya Birla Diamond Co-Pay - You pay 0% of the claim Maternity - Not Covered Hospital Room - Single Private Room No Claim Bonus - Rs 0.5L per year up to Rs 2.5L Restoration - Up to Rs 7.5L   Rs. 29968/Year Star Health Family Health Optima Co-Pay - You pay 0% of the claim Maternity - Not Covered Hospital Room - Single Standard AC Room, Actual No Claim Bonus - Up to Rs 5L Restoration - Up to Rs 15L Rs. 30757/Year CignaTTK CignaTTK ProHealth Protect Policy Co-Pay - You pay 0% of the claim Maternity - Not Covered Hospital Room - Single private room No Claim Bonus - Rs 0.275L per year up to Rs 11L Restoration - Unlimited Rs. 31853/Year   (The above premium chart is for a couple of 58 to 50 years with the sum assured of Lacs)   These companies also carry a good claim settlement ratio that will help a lot at the time of filing claim. When you buy an effective health insurance plans font forget to look at the cover, additional benefits, add-on covers, and most importantly the claim settlement ration. In case of need, you can go for cashless benefit as it will help you to be free of all worries related to the treatment of the plan and van either choose the reimbursement option that will pay you later for all the charges that you paid at the hospital to avail treatment for your parents. Company Claim Settlement Ratio Religare 87% Star Health 79% Max Bupa 86% Cigna TTK 94% HDFC Ergo 77%  
Asked by Naval Goel on 31 Oct, 2018 in Health Insurance
3
  • 10 Votes Click Above To Vote
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Having parents is not less than having a blessing. You always have the required support whenever you need them. But slowly, your parents move to a different stage and that is the olde age. And during this age the chances of getting ill and diagnosed are high and this growing inflation rate, the cost of treatment might create a hole in your pocket. So for the love of your parents and to stay prepared to fight against unwanted medical emergencies, you must invest in a health insurance policy.

Well, the good thing is that there are many insurance plans which are specially designed to offer the needful health cover to your parents to beat unwanted medical emergencies.

In this old age as well, they can avail the benefit of wider health insurance with several additional benefits. Such plans are offering a wide cover at an affordable cost. A few of plans that you can think of for your parents are

Company

Plan

Benefits

Premium

HDFC ERGO

Health Suraksha

  • Co-Pay - You pay 0% of the claim

  • Maternity - Not Covered

  • Hospital Room - All categories

  • No Claim Bonus - Rs 0.25L Per Year Up to 2.5L

  • Restoration - NA

 

Rs. 23621/Year

Religare

Care with Smart Select

  • Co-Pay - You pay 0% of the claim

  • Maternity - Not Covered

  • Hospital Room - Single Private Room

  • No Claim Bonus - Rs 0.5L per year upto Rs 2.5L

  • Restoration - Up to Rs 5L

Rs. 25282/Year

Aditya Birla

Diamond

  • Co-Pay - You pay 0% of the claim

  • Maternity - Not Covered

  • Hospital Room - Single Private Room

  • No Claim Bonus - Rs 0.5L per year up to Rs 2.5L

  • Restoration - Up to Rs 7.5L

 

Rs. 29968/Year

Star Health

Family Health Optima

Co-Pay - You pay 0% of the claim

  • Maternity - Not Covered

  • Hospital Room - Single Standard AC Room, Actual

  • No Claim Bonus - Up to Rs 5L

  • Restoration - Up to Rs 15L

Rs. 30757/Year

CignaTTK

CignaTTK ProHealth Protect Policy

Co-Pay - You pay 0% of the claim

  • Maternity - Not Covered

  • Hospital Room - Single private room

  • No Claim Bonus - Rs 0.275L per year up to Rs 11L

  • Restoration - Unlimited

Rs. 31853/Year

 

(The above premium chart is for a couple of 58 to 50 years with the sum assured of Lacs)

 

These companies also carry a good claim settlement ratio that will help a lot at the time of filing claim. When you buy an effective health insurance plans font forget to look at the cover, additional benefits, add-on covers, and most importantly the claim settlement ration. In case of need, you can go for cashless benefit as it will help you to be free of all worries related to the treatment of the plan and van either choose the reimbursement option that will pay you later for all the charges that you paid at the hospital to avail treatment for your parents.

Company

Claim Settlement Ratio

Religare

87%

Star Health

79%

Max Bupa

86%

Cigna TTK

94%

HDFC Ergo

77%

 

31 Oct, 2018
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As we grow older, we all notice medical changes in our body. Just like us our parents also experience health-related problems when they reach their 60’s and it becomes important to get your parents insured against medical complications in the future. By purchasing the right type of health insurance for a senior citizen, you can avail the benefit of medical expenses coverage for unexpected illness, room charges, doctor fees, pharmaceutical expense, cashless treatment at any network hospital, protection from pre-existing medical disorders etc. If your parents are 58 years old or 60 years old, then you can consider various health insurance plans provided by multiple health insurance companies-

1. HDFC ERGO – Health Suraksha The health Suraksha plan will cover all your pre-hospitalisation, in-patient care expenses and you can have access to 80+ cashless hospitals in your city. The annual premium individuals need to pay is Rs 23,622.

2. Cigna TTK – Pro-Health (Protect) The Pro-health plan under Cigna provides you unlimited benefits which consist of before and after hospital expenses, day care treatments, cashless treatment at any network hospitals etc. The cost you need to incur is 36,286 annually i.e. 3,024 monthly.

3. Religare – NCB Super Premium This will cost you around 38,480 yearly which will cover cashless treatment at designated hospitals, day care treatments, before hospitalization expenses (30 days before), after hospitalization expenses up to 60 days, No Claim Bonus (NCB), health checkups at specified centers etc.

4. Apollo Munich – Optima Restore The cost that you are required to pay is Rs 32,223 on annual basis and you have to wait for 3 years to avail the policy. By buying this policy, you can have the benefits like coverage of hospitalization cost, no claim bonus, medical checkups, cashless treatment at 4,105 network hospitals, access to health assessment report.

5. Bajaj Allianz- Silver Health Plan It is specifically for the parents between 46 to 70 years of age and the sum assured under this plan ranges from 50,000 to 5 lakhs with the benefit of coverage from pre-existing diseases, medical checkups, hospitalization expenses etc

6. ICICI Lombard – Complete Health Insurance This plan under ICICI Lombard will assure you the maximum sum of 10 lakhs and any parent with 46 years of age or above can purchase this health insurance.

7. Star Health – Senior Citizen Red Carpet The parents who are between 60 to 80 years of age can easily buy Senior Citizen Red Carpet health insurance policy where you can cover all your hospitalization cost up to Rs 50,000 excluding the cost of medicine, nursing, diagnosis, and consultation.

8. HDFC ERGO – Health Suraksha The health Suraksha plan will cover all your pre-hospitalisation, in-patient care expenses and you can have access to 80+ cashless hospitals in your city. The annual premium individuals need to pay is Rs 23,622. According to the best of my knowledge and intensive research, I found these health insurance plans as suitable for parents between 50 to 60 years of age.

31 Oct, 2018
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