As a person’s age advances, the likelihood of experiencing minor or major health issues also rises. Without appropriate health insurance, this individual's retirement savings could face significant strain due to potential hospitalisations.
Including a suitable health insurance policy for senior citizens becomes a necessary component of one's financial objectives. With a health insurance plan, you can get advantages such as extensive insurance coverage, cashless hospital admission, coverage for pre-existing conditions, and complimentary annual medical tests. These benefits collectively have the potential to result in substantial cost savings.
NRIs too, should buy NRI senior citizens health insurance plans for their ageing parents. Given the increasing availability of job opportunities that require onsite presence, individuals are relocating far from their families to pursue their careers.
Although this move abroad might appear appealing without apparent reservations, several factors warrant consideration before finalising such a move, with parental care standing out as a paramount concern.
An essential stride in ensuring your family’s well-being involves getting health insurance, and this holds true even for NRIs. In the forthcoming discussion, we will explore the feasibility of NRIs purchasing health insurance plans for their parents residing in India along with other crucial factors that merit attention.
However, prior to delving into these intricacies, it's beneficial to grasp some fundamental aspects of health insurance for senior citizens in India.
Discussed below are the salient features of senior citizen health insurance plans in India -
With that said, it’s worth noting that the outcomes of these preventive health check-ups frequently influence the insurance premium rates
Listed below are the salient benefits of health insurance for senior citizens in India -
Option for Lifetime Renewability: Most health plans designed for senior citizens include the option for lifelong renewability.
Here are some of the common coverage features provided under senior citizen health insurance plans -
Listed below are the standard exclusions for senior citizen health insurance plans in India -
Here are the things you should consider when buying parents' health insurance plans -
A major concern of Non-Resident Indians (NRI), residing or working abroad, is the well-being of their parents situated in India. In this case, even the slightest health ailment can lead to distress when one is separated by miles from their parents.
Comprehensive health insurance coverage can play a pivotal role in safeguarding both the family's health and financial stability. However, a query immediately arises -
Can an NRI purchase health insurance for their parents residing in India?
The answer is affirmative – the process of procuring health insurance for the parents of NRIs is as uncomplicated and straightforward as it is for Indian residents!
By obtaining health insurance for their parents, NRIs can ensure that their family receives timely and excellent medical treatment during situations of medical emergencies. For NRIs aiming to secure health insurance for their parents in India, the option to purchase a policy online is available as well.
It is essential to be aware of certain crucial details before finalising the purchase of health insurance for parents in India -
Health insurance plans play a crucial role for individuals residing independently in India. They serve to safeguard not just their financial well-being but also ensure access to excellent medical treatment from affiliated hospitals in times of necessity.
Check out the key benefits of NRI parents health insurance plans -
Detailed below are some factors to consider before buying NRI senior citizen health insurance -
A swift and uncomplicated claim settlement procedure can greatly impact the ease of managing medical expenses when the need arises.
Here are some quick questions related to NRI senior citizens health insurance.
Ans: Yes, non-resident Indians (NRIs) have the option to purchase health insurance intended for their families residing in India. This coverage encompasses their marital partner and children who rely on them as well as parents who are financially dependent on them.
Ans: NRIs can claim health insurance for their parents in India. The necessary procedure involves notifying the Indian insurance provider regarding the hospitalisation and furnishing the mandatory paperwork.
In instances of cashless treatment, the insurance company will directly settle the medical expenses with the affiliated hospital. Alternatively, if reimbursement claims are applicable, the insurance company will compensate the insured individuals for their incurred expenses after proper verification.
Ans: Health insurance companies provide coverage for medical expenses incurred in India for Non-Resident Indians. Nevertheless, in recent times, a couple of insurance providers have initiated coverage for medical costs in foreign countries as well, subject to specific terms and conditions.