Get Rid Of Health Insurance For Parents Once And For All

1
Get Rid Of Health Insurance For Parents Once And
For All
2

• Caring for their ageing parents has become a top
  priority for millennials, these days.
  Out-of-pocket healthcare expenses resulting from
  unexpected medical emergencies can seriously
  affect the financial health of a family. As adult
  children, it is not only important to give love
  and care for parents but also protect their
  future by planning for their medical exigencies.
  Buying health insurance for parents is not a
  tough decision to make as many insurance
  companies in the market have come up with
  attractive policies to suit diverse requirements.
  Moreover, buyers have the option to compare
  policies online and buy the most suitable option,
  which makes things all the more easy.

3
Furthermore, there are many options
for retirement plans India based insurance
companies offer which prove to be useful when an
individual has no source of income after
retirement. These pension plans are individual
insurance plans that provide financial security
during old age.
4
Why your parents need a health insurance plan?

• A customized health insurance for parents
  uncovers a host of benefits for the family by
  providing cover for a number of diseases for
  affordable premiums. Moreover, cashless plans
  minimize the financial burden for a family to a
  great extent. As medical treatment costs have
  skyrocketed, such plans will cover expenses for
  medicines, OPD consultation, hospitalization and
  diagnostic tests. Some companies also cover
  additional expenses like transportation cost of
  ambulance in case of medical emergency.
  In addition, availing policy for health insurance
  for parents is advantageous in terms of tax
  benefits under section 80D of the Income Tax Act,
  1961.

5
What is Senior Citizen Health Insurance?

• Senior Citizen health insurance for parents is an
  insurance plan which majorly covers medical
  treatments for people aged between 65 and 80
  years. As per IRDA guidelines, insurance
  companies must provide coverage to individuals
  till 65 years of age to facilitate coverage for
  people at later stages of life and enable them to
  move insurers if they are unhappy with their
  current provider.

6
Benefits of buying retirement plans

• Senior citizens are prone to several age-related
  illnesses and increased medical expenses. With
  plethora of options available for retirement
  plans India has many informed senior citizens who
  have already secured their retirement years.
• Besides health insurance for parents, insurance
  companies offer various pensions plans, also
  called annuity plans or retirement plans India.
  These are plans where an individual must invest
  either a lump sum amount or regular annual
  installments or premiums over a period of time in
  return for regular income either for life or
  certain fixed number of years, which may depend
  upon the particular plan availed.
• The dual advantage of buying health insurance for
  parents and retirement plan India will certainly
  safeguard the familys overall well being.
  However, due comparison is of utmost importance
  when buying any insurance policy.