NEED ADVICE ON PARENT INSURANCE (OP)
This is for India
Hello everyone! I’m looking for some guidance regarding health insurance for my mother, who is 83 years old. Until now, her insurance has been managed through my brother’s group policy at his workplace, so I haven’t needed to explore other options.
However, my brother, despite being a talented software engineer, has been unemployed for the last six months. As a result, I now need to secure a medical insurance policy for my mom.
Has anyone else gone through this process for their parents? I would really appreciate your advice on:
– Recommended insurance companies
– Suitable plans to consider
– Estimated premium costs, etc.
Additionally, I already have an insurance policy with Oriental Insurance for myself, my wife, and our daughter. Has anyone included their parents in an existing policy with Oriental Insurance?
Any insights or experiences you can share would be greatly appreciated! Thank you!
Hi there! It’s great to see you’re looking out for your mom’s health insurance, especially considering her age. Here are some tips to help you navigate the insurance options for her:
Understanding the Need: Since your mother is 83 years old, you’ll want to look for a senior citizen health insurance plan, as these are specifically tailored for older individuals.
Insurance Companies: Some well-known companies in India that provide senior citizen health insurance include:
Aditya Birla Health Insurance
Best Plans: Look for plans that cover pre-existing conditions, hospitalization, day-care procedures, and have a wide hospital network. The Senior Citizen Red Carpet policy by Star Health Insurance is often recommended for its comprehensive coverage for older adults.
Premium Costs: Premiums can vary greatly depending on the insurance company, the plan, and the specific health conditions of your mom. Generally, senior citizen plans can have higher premiums due to the increased risk. Expect to pay anywhere from ₹20,000 to ₹50,000 per year, but it’s best to get quotes based on your mother’s health status and requirements.
Including in Existing Policy: Regarding adding your mom to your existing policy with Oriental Insurance, it’s best to directly consult with Oriental Insurance representatives. They will clarify whether you can add her and what adjustments need to be made to your existing policy.
Consulting an Agent: It might be beneficial to consult an insurance advisor who specializes in senior citizen plans. They can provide personalized recommendations based on your mother’s health status and needs.
Reading the Fine Print: Lastly, always read the policy documents carefully, especially the exclusions and waiting periods for pre-existing conditions.
I wish you the best in finding the right insurance plan for your mom! If you have further questions or need specific assistance, feel free to ask.