Reasons Why Separate Health Cover Is Better Than Family Floater For Parents
Having grandparents or elderly parents at home is a sheer blessing. They have always been with you through thick and thin and have gone beyond limits to keep you happy. It is now your sole responsibility to look after their well-being while they are ageing.
It involves having the appropriate health insurance coverage to safeguard and give them the ability to handle an unexpected medical emergency. Provided that age-related health concerns are unavoidable and that the wisest way to prevent health-related complications is through adequate healthcare, parents need health insurance.
It’s time to reconsider and make changes if you have parents insured by a family health insurance plan. Every member of our family needs to be healthy. Nevertheless, the elderly demand specialised care and medical attention because ageing comes with various health hazards. It also means that their insurance needs would also be different. So, while a family floater plan may provide coverage for medical expenses, buying customised health insurance for parents has its advantages one cannot ignore.
Here are some reasons as to why purchasing a separate health insurance policy is preferable to just adding your parents to a family floater policy :
Affordable Premium Lowers your Annual Expenses
The cost of the premium for a family health insurance plan is determined by the age of the oldest member of the household. Age is one crucial aspect that can alter the regular premium amount you pay, among other factors. The cost of adding senior citizen parents to an existing family floater policy will boost the premium cost if you are young and have family floater insurance that covers yourself, your spouse, and any dependant children.
Medical insurance for parents will provide comprehensive protection for your parent’s health because it is designed considering their requirements. This is how both the premium cost will be affordable.
You Get Adequate Coverage for Medical Treatment
Most of you must have experienced firsthand how expensive long-term medical care can be when savings are exhausted. It is especially true when relatives are suffering from a severe illness. You may anticipate increasing healthcare prices in India as inflation is now on a constant rise. Therefore, the better a medical insurance policy is, the bigger the coverage amount. Considering this, your current family floater coverage may prove to be insufficient. Therefore, it is essential to purchasing a separate Senior Citizens Health Insurance because it would provide a high sum insured that would be available for only your senior parents.
Additional Beneficial Features
No claim bonus is a benefit that entitles the insured to a higher sum insured if there were no claims made during the policy year. If a member claims a family floater policy due to a senior citizen’s health issues, the benefit will not be available for that year. A senior citizen’s health insurance plan provides advantages, including yearly health check-ups, automatic renewal of the insured amount, and no-claims bonuses, just like a family floater policy does.
Additionally, many older people trust alternative therapies like AYUSH for their treatment. A senior health plan by Care Health Insurance covers traditional forms of therapy to keep your parents at ease.
Care Health Insurance’s Senior Citizen Health Insurance Plan provides appropriate protection with a more extensive sum insured for your ageing parents. The benefit, such as inpatient hospitalisation, yearly health check-ups, and coverage for alternative treatments, will keep all your worries at bay during a medical emergency.
Disclaimer: Policy terms and conditions will apply to the features, benefits, coverage, and underwriting of claims under the plan. Please carefully read the policy documents, sales prospectus, and brochure.
