Planning to buy Health insurance for parents? Here's what you must keep in mind.

Planning to buy Health insurance for parents? Here's what you must keep in mind.

Your parents have raised you with utmost love and affection. Today as they age, show them that you value all that they’ve done for you by looking after their health needs. Buy health insurance for parents to ensure that they are financially protected against medical emergencies during the vulnerable sunset period of their lives.

Fortunately for you, there are a plethora of senior citizen plans available to choose from. Here are some pointers to help you make the right pick:

Buy now

Buy health insurance for parents while they’re still relatively young. This is because as age increases, premiums rise, as senior citizens have a greater risk of contracting ailments.

Coverage options

Old people need protection against a larger number of diseases, including critical illnesses. Make sure to choose a plan that provides coverage for the widest range of ailments.

Carefully study the exclusions. Consider the illnesses and surgeries your parents are likely to undergo and make sure that ailments your family has a history for, are covered under the plan. Buy add-on riders for critical illnesses where necessary.

Maximum age for renewal

Insurance companies often have an upper age limit. Make sure to check, and select a plan with a higher age limit so your parents are protected for the longest possible period.

Pre-existing illnesses

Check the stance of the policy provider towards pre-existing ailments. If your parents are already suffering from certain ailments that the policy permanently excludes, opt for another plan. Some plans cover pre-existing diseases after a specific waiting period, usually between two to four years. Opt for a plan with a low waiting period for a pre-existing condition.

Co-pay amount

Co-pay amount is a predetermined percentage of the claimable hospital expenses that you have to pay for. While in some plans co-payment is optional, it is mandatory for a number of senior citizen plans, with a relatively high co-payment share for the insured. Avoid plans with higher co-pay amounts.

Individual or floater plan

In a family floater plan, the entire family is protected under a single cover that can be utilized by any member of the family. However, if one member makes a huge claim equal to or greater than the cap amount, the other members cannot avail of insurance within that year. Since older parents run a higher risk of contracting serious ailments that are expensive to treat, it is not advisable to include them in a family floater plan. It makes the most sense to purchase an individual senior citizen health insurance plan for them.

Network hospitals

Health insurance companies tie up with specific hospitals for offering cashless treatment. These are known as network hospitals. Make sure to check that your provider has a wide network, particularly in your neighbourhood, so access is easy especially in case of emergencies.

Gift your parents, quality healthcare

Keeping in mind the high financial risk in case of ailments in the old age when one is retired, choose a suitable insurance plan for parents, keeping in mind the factors discussed above. Put worries about their health to rest.


ManipalCigna Health Insurance Company Ltd (Formerly known as CignaTTK Health Insurance Company Limited) | CIN U66000MH2012PLC227948 | IRDAI Reg. No. 151 
Reg. Office: 401/402, 4th Floor, Raheja Titanium, off. Western Express Highway, Goregaon (East), Mumbai- 400 063 | Toll free number – 1800-102-4462 | Website address –
Trade Name / Trade Logo belongs to MEMG International India Private Limited and Cigna Intellectual Property Inc. and is being used by ManipalCigna Health Insurance Company Limited under license. For more details on risk factors, terms and conditions, please read the sales brochure/ sales document available on our website (Download section) before concluding a sale.

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