Paisawiki is a Part of Logo
Get ₹5 Lac Health Insurance starts @ ₹300/month*
250+ Plans 18 Insurance companies
Tax Benefit up to Rs.75,000
Save up to 12.5%* on 2 Year Payment Plans

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Parents Health Insurance

Parents Health insurance is an individual or family insurance exclusively for your parents. Because of their growing age, health conditions may require more intensive medical care, frequent hospitalization, and higher expenses as compared to younger individuals. 

Hence, it may not be a wise idea to cover your parents individually or in a group or as a part of the family floater. Most of the leading Health insurance providers have plans specially designed for parents or senior citizens with additional benefits, higher coverage.

Plans that are designed for senior people in the society are termed as Senior Citizen Health Insurance Plans. These plans are equipped with special feature and benefits keeping the necessities of a senior citizen in mind. However, one can cover his/her non-senior citizen parent under a family floater plan or buy a separate individual plan for them. 

Expenses on premiums for health insurance are exempted from taxation under section 80 D of the Income Tax Act.

Types of Health Insurance Plans for Parents 

Health insurance for parents can be availed as below types:

    • Individual Health insurance policy

      This is a regular policy where you decide on a specific sum insured and pay the premiums as per the policy.  Though there is an advantage of the entire sum insured covering only one individual. However, premiums can be a little higher, however, having 2 separate individual plans for each of the parents may not be feasible or necessary. 

    • Family Floater Policy

      In a floater policy, a single policy is utilized by the whole family. For example, if the sum insured under the policy is Rs 5 lakh, all the members in the family can utilize the amount which is divided accordingly. 

      In a family of 5 members, if one of the members other than the parents is hospitalized and the bill amounts to Rs 2 lakh, the rest of the family members will be left with a sum of Rs 3 lakh, which might complicate things.

    • Senior Citizens Policy

      Senior citizens' policy is a tailor-made policy for citizens above the age of 60 and will have certain additional benefits that may not be a part of a regular policy. Commonly, these benefits include emergency evacuation, the lesser waiting period for pre-existing diseases, critical illness cover; nursing charges cover at home, co-payment feature etc. 

      Hence, when you are buying a health insurance policy for your parents, you can consider these types. However, if your parents are approaching 60 or above, buying senior citizen health insurance is the best option to choose.

Top Health Insurance Providers in India 

Find below the comparison table for some of the leading health insurers in India providing health insurance for parents: 

Insurance Provider

Plan Name

Network Hospital

Incurred Claim Ratio

Aditya Birla Health Insurance

Active Care

5850

 59%

Bajaj Allianz Health Insurance

Silver Health

6500+

85%

HDFC ERGO  Health Insurance

My: Health Suraksha

4721+

62%

Liberty General Insurance

Connect Supra

3000+

82%

Max Bupa Health Insurance

Health Companion

4115+

54 %

ManipalCigna

ProHealth Plus

6500+

62%

National Health Insurance

Varishtha Mediclaim

4500+

107.64%

Oriental Insurance

Hope Policy

4300+

108.80%

Religare Health Insurance

Care Senior

4987+

55%

Royal Sundaram

Family+

5000+

61%

Reliance Health Insurance

Health Gain

4000+

14%

Star Health Insurance

Red Carpet

9800+

63 %

Tata AIG

MediSenior

4000+

78 %

Universal Sompo

Senior Citizen Plan

5000+

92 %

United India Health Insurance

Senior Citizen Health Insurance

7000+

110.95%

Disclaimer: *Paisawiki does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Popular Health Insurance Plans for Parents 

Some of the most sought-after health insurance policies you can consider for covering your parents are mentioned below: 

Types of Health Insurance Plan

  • Aditya Birla Active Care

    Active Care from Aditya Birla takes care of your parents as you do. The policy comes with comprehensive insurance coverage with its 3 variants namely Standard, Classic and Premier, where the sum insured ranges from Rs 10 lakh to 25 lakh. 

    Some of the salient features include:

    • Daycare treatment cover for 586 procedures
    • 50% and 100% reload of the sum insured depending on the plan type
    • Domiciliary treatment for listed illnesses
    • Second advice on major illness
    • Annual health check-ups
    • Optional cover like upgradation of room 
  • Bajaj Allianz Silver Health 

    With age, health-related issues tend to increase and so are the expenses. A senior citizen health insurance pan like Bajaj Silver Health comes in handy in covering those additional expenses arising out of a medical emergency. 

    Some of the salient features of this plan include:

      • Pre-existing illness are covered after 1 year
      • The policy comes with a higher entry age up to 70 years
      • Cumulative bonus of 10% for every claim-free year
      • Free health check-ups at the end of 4 continuous claim-free years
      • Ambulance cover up to a limit of Rs 1000
      • Sum insured options range from Rs 50,000 to Rs 5,00,000 
  • HDFC ERGO My: Health Suraksha

    HDFC My: Suraksha plan provides 360-degree insurance protection where 90% of cashless claims get settled within 20 minutes. Available in Silver Smart and Gold Smart, the policy offers sum insured ranges from Rs 3 lakh to 15 lakh. 

    Some of the unique features of this plan include:

      • No capping on room rent
      • Sum insured restoration
      • Cashless home healthcare facility
      • Free health check-up every year
      • No medical test up to the age of 45 years
      • Pre and post-hospitalisation for 90 to 180 days respectively
      • AYUSH Benefit
      • Recovery benefit
      • Mental Healthcare
      • Free-renewal health check-up 
  • Liberty Health Connect Supra

    This is an additional benefit to your existing individual or family health insurance, which offers coverage above your basic sum insured. The policy can be availed in two variants Top-up and Super Top-up. 

    Some of the unique benefits are:

      • Multiple sum insured and deductible options to select from
      • No pre-policy medical check-up
      • Discounts on multi tenure policies
      • Cashless treatment at more than 3600 hospitals
      • NCB of 10%for every claim-free year
      • Worldwide coverage
      • AYUSH treatment benefit
      • Wellness program 
  • Max Bupa Health Companion

    Available in both individual and floater basis, Health Companion policy can be a good choice for covering your parents. Stand-out features like sum insured restoration, coverage for alternative treatment, lifetime renewability benefit, direct claim settlement etc. make the policy worth buying. 

    Some of the salient features of this plan are:

      • The policy sum insured can be availed in 3 variants-
        • Variant 1 coverage up to Rs 4 lakh
        • Variant 2 coverage up to Rs 12.5 lakh
        • Variant 3 coverage up to Rs 1 cr
      • Annual check-up to be availed once in 2 years
      • In-patent hospitalization expense cover up to the sum insured
      • All daycare treatment cover
      • Pre and post-hospitalisation cover for 30 and 60 days respectively
      • Coverage for rooms for SI Rs 5 lakh
      • No claim bonus for every claim-free year up to 20%
      • Alternative treatment cover such as Ayurvedic Unani, Siddha etc. 

Exclusions of Parents Health Insurance plan 

Conditions that are generally not covered in most health insurance plans: 

  • Any disease that is diagnosed within the first 30 days of inception of the policy
  • Congenital diseases
  • Hospitalization for HIV/AIDS or related conditions
  • Self-inflicted wounds or injuries (attempted suicide etc.) 
  • Accidents or medical conditions arising due to the alcohol consumption of the insured
  • Hospitalization primarily for diagnostic/ investigation purpose
  • Hospitalization due to war-like situations, nuclear weapons, strikes, riots, etc.
  • Any cosmetic procedures
  • Medical equipment for home care procedures like dialysis, asthma, etc. 

*Note: The list is not comprehensive, and some of the exclusions may vary depending on the policy and the insurer.

Parents’ Health Insurance Plan: Claim Process 

Health insurance plan for your parents can be claimed either for availing cashless or reimbursement benefit. 

Cashless Health Insurance Claims 

In the cashless claim process, the insured gets healthcare services free of cost, where hospital bills are settled directly by the insurance provider. A pre-authorisation formality has to be done for seeking permission for the same, where the insured fills a form and submit along with the necessary documents.

An amount in addition to the initially released may be approved for payment by the insurer if the expenses are justified. As the name suggests, the entire process is cashless, and the patient only needs to pay expenses such as like registration fees, disposable items, or any non-medical expenses that are not covered under the policy. Upon approval, the treatment can be availed free and insurer settles the bills with the hospital authority at the time of discharge. 

Sometimes, the hospital might collect some defined amount after admission, which will be repaid after the claim is approved by the insurer. 

Reimbursement Health insurance claims

In these claims, the patient pays the hospital expenses upfront and claims the amount later by submitting a claim form to the insurer. 

The hospitalization and expenses have to be justified; the treated condition should be covered by the policy and be supported by all medical documents such as admission notes, investigation reports, doctor’s consultation notes, and discharge summary. The original payment receipts should be submitted. Similar to cashless claims, non-medical expenses will not be reimbursed. 

Renewal Process of Health Insurance for Parents 

The policy can be renewed offline or online. One need not be present in person for the policy to be renewed. Policy number and KYC details may need to be furnished for renewals. 

Renewing a policy within the grace period is important because you will need to buy a new policy and incur additional expenses if the policy expires. The pre-existing diseases and waiting period clauses will apply freshly for a new policy. The benefit of no claim bonus also may be lost. 

How to Buy Parents Health Insurance? 

Health insurance plans can be bought online or offline by submitting the above-mentioned documents. There are many websites that offer a facility to compare plans before buying. 

However, if you are buying for the first time, you can go to the insurer's office, discuss in detail about your requirements, budget, and benefits on offer. 

Moreover, authorised agent will be best equipped to advise you on which plan to buy when to buy and any offers that may be coming up soon. In case of any trouble or rejection of a claim, you can approach the agent again. 

Documents Required for Buying Health Insurance for Parents 

Some of the documents you must provide include the following: 

  • Proof of age, identity, and address
  • Passport-sized photographs
  • Medical examination reports (if required or advised)
  • Duly filled policy application form 

Things to Consider While Buying a Health Insurance Plan for Parents 

Unless you are familiar with the terminology of policy terms and conditions, technicalities involved in processing claims and getting payments released with the insurer, you may not be able to choose the right health plan for your parents. Hence, certain things are to be kept in mind: 

Pre-existing Diseases 

Diseases or health conditions that persist at the time of inception of the policy or insurance contracts are termed as pre-existing diseases. 

The list of pre-existing conditions may vary depending on the insurer, and it would be wise to confirm the waiting period and diseases that are not covered before enrolling in the policy.

Irrespective of the outcome, you are advised to disclose all your parents’ medical details and diseases at the time of buying the policy. 

Waiting Period 

Certain common conditions that occur with age such as cataract, hernia, piles, tonsillitis, etc. are not covered immediately after the policy starts, and there need to serve a certain waiting period before availing the policy benefits for these. The waiting period ranges from 1-4 years, depending on the policy chosen. 

Most of the insurers will not pay any claims for hospitalization during the first 30 days of the policy coming into effect, except for admissions due to accidents. This period may be extended up to a maximum of 90 days with certain insurers. 

Common Conditions that are Excluded During the Waiting Period 

Benign prostatic hypertrophy (BPH),  hernia of all types, hydrocele, prolapse of genitourinary/intra-abdominal organs (uterus, rectum, etc.), surgeries for ulcers of the stomach and duodenum, fistulae, hemorrhoids, anal fissures, dysfunctional uterine bleeding, uterine fibroids, endometriosis, hysterectomy, urinary and biliary stones, benign and malignant tumors, joint replacement and spinal surgeries,  some ear, eye, and skin surgeries fall under the pre-existing disease category, for which treatment is not provided till the end of the waiting period. 

Pre- and Post-hospitalization Expenses 

These are the expenses that are paid by the insurer if they are related to the illness for which the patient is hospitalized. If the patient is admitted for heart surgery, medical expenses related to the particular ailment will be paid for a certain period before and after hospitalization, up to a certain limit. 

Most insurers pay pre-hospitalization expenses up to 30 days and post-hospitalization expenses ranging from 60-90 days. 

Co-payment Option 

The co-payment option is becoming increasingly common with many insurers underwriting, where 10%-20% co-payments in the policy, mostly to make the insured more responsible and cut down costs.

When choosing a health insurance policy for parents, one needs to give weightage to this option and go for a policy with minimum or no co-pay option. This will reduce the burden as with age parents are prone to frequent medical visits. 

Daycare Procedures 

Health insurers require 24 hours of hospitalization for the claim to be valid and assessed. Daycare procedures are minor procedures that does not require 24 hours of admission in the hospital. And health insurance policies cover this as well. However, the number and variety of daycare procedures covered vary from one insurer to another. 

Procedures such as chemotherapy, dialysis for kidney failure, tonsillectomy, coronary angiogram (CAG), etc. are considered as daycare procedures. The list is quite exhaustive, with some insurers covering up to more than 500 procedures. The policy buyer is advised to confirm the list before choosing a policy. 

Remember that an out-patient consultation will not count as a daycare procedure. 

Annual Health Check-up Facility 

Most of the insurers offer annual health check-up facilities at various frequencies and limits, depending on the policy. You would be well-advised to confirm the tests covered and the time period between 2 check-ups at the time of buying the policy. 

Hospital Network 

A cashless insurance facility is nowadays available in everywhere. Choose the insurer who has a wide hospital network or is in tie-up with most hospitals in urban or rural areas, as this enables your parents to avail of the cashless facility, from most of the locations. 

Cashless health insurance should be preferred in almost all cases because it is hassle-free, processing will be easier for old aged individuals and frees them from the burden of paying first, hassle of saving the documents and apply for a reimbursement of the claim. 

Most of the insurers outsource claim settlements to TPAs or Third Party administrator, who processes the claims on behalf of the insurance provider. For this reason, check the TPAs, the insurer usually ties up with. 

No Claim Bonus (NCB) 

This is the bonus offered by the insurer for every claim-free year. If you have not made any claim on your health insurance for the policy period of 1 year, you will be rewarded by the insurer. 

The bonus can be in the form of a discount on your next premium or a cumulative bonus, which means a percentage of sum-insured will be increased following a claim-free year up to a certain limit. 

For example, if your sum insured is Rs 5 lakh, a cumulative bonus of 5% for a claim-free year, would increase your sum insured up to Rs 5.25 lakh for the next year. But it will be subject to a maximum limit of 20% or 50% as per the policy terms. Some insurers offer a cumulative bonus on subsequent renewals also. 

Claim Settlement Ratio

Claim Settlement Ratio is the percentage of claims that are paid. Naturally, one should choose an insurance provider with a history of high claim settlement ratio, i.e., the insurer who settles and pays claims more than the claims it rejects. 

Health Condition of Your Parents

  • How healthy are your parents?
  • Do they have many co-morbidities or disease conditions?
  • Are they diabetic or hypertensive?
  • How active they are?
  • Record of on-going medical treatment if any 

Buy the Plan Early 

You need not wait for your parents to become sick or for them to attain a certain age. Though it may pinch your wallet, it is better to buy the plan early, even if they are healthier, because it will minimize the concerns of the waiting period, pre-existing diseases, etc., and make you familiar with policy terms and conditions, claims process, etc. 

How to Choose a Health Insurance Plan for Parents? 

List your concerns, finalise on a few policies, compare the premiums, other expenses, and your budget, and choose a plan that addresses most of your requirements. If not all, given below are some details that will help you choose a plan. 

Your Checklist for Buying a Health Insurance Plan 

Coverage of the plan

  • What does the health insurance plan cover – diseases, duration and the waiting period 
  • Room eligibility (single or sharing), room rent, ICU charges per day
  • What are the inclusions and exclusions? 
  • What are the caps for various diseases? 
  • Outpatient and daycare procedures 
  • Major surgeries covered under the policy 
  • Annual health check-ups 
  • Pre and post hospitalization expenses 
  • Treatment for psychiatric illnesses 
  • Ambulance cover 
  • Domiciliary hospitalization 
  • Alternative treatments (Ayurveda, Homeopathy, Unani, etc.) 
  • Dental procedures 
  • Critical illness cover 

Check the List of Critical Illness Covered

Conditions that are classified under critical illness are as follows: 

  • First heart attack – of a certain severity
  • Cancer – of a certain severity
  • Open heart bypass surgery
  • Open heart replacement or surgery of heart valves
  • Permanent paralysis of limbs
  • Stroke or any motor neuron disease culminating in permanent symptoms (lasting for at least 3 months)
  • Coma – of a certain severity
  • Major organ/ bone marrow transplantation
  • Kidney failure requiring maintenance dialysis
  • Multiple sclerosis with persistent symptoms (for at least 6 months) 

Frequently Asked Questions 

  • Q.What is the free-look period? 

    Ans: Free-look period is 15 days after buying the policy where you can review the policy and return or cancel it if not satisfied with terms and conditions. A proportionate amount for the number of days the policy was held, and any other expenses like stamp duty charges would be deducted by the insurer on the premium. 

    Free-look period is generally applicable only if the policy term is at least for 3 years and shall be available only on the first purchase of the policy and not on renewals. 

  • Q.What is the grace period? Is my claim payable if I get admitted during the grace period? 

    Ans: The grace period is the period between the date of expiry of the current health insurance policy and date of its subsequent renewal. In case an automatic renewal is not opted for, or there is a delay in renewal due to some other issues, a period of 30 days is considered as a grace period, which will maintain the continuity for pre-existing diseases and waiting periods. 

    However, hospitalization during the grace period will not be paid for, though the policy remains active. The policy and benefits of the waiting period will be void if the policy is not renewed within the grace period. 

  • Q.What are ‘reasonable charges’ payable by the insurer? 

    Ans: Reasonable or customary charges amount to the expenses of services or supplies that are consistent with the prevailing charges in a given geographical area for a specific illness or injury.

  • Q.What is the domiciliary treatment? 

    Ans: Any treatment given to a patient confined to home, that would be given in a hospital under normal circumstances, provided the medical treatment is required for at least 3 continuous days, the patient is in a condition in which he cannot be shifted to a hospital, or the hospital is unable to provide accommodation to the patient. 

  • Q.What is the daily hospital cash benefit? 

    Ans: The insurer pays a certain amount every day while the insured is hospitalized to cover other expenses that are excluded in the policy. A minimum hospitalization of 24-48 hours is required, and this benefit is paid up to 30-45 days of hospitalization, depending on the term and conditions.  

    The amount paid may differ based on your policy and is paid up to a maximum limit of Rs 10000 per day. The benefit is more if the patient is admitted to ICU as against normal room and is usually paid as a lump sum. Clarify this facility and the amount that will be paid as a daily hospital cash benefit before buying the policy.

  • Q.What is a restoration benefit? 

    Ans: Restoration benefit is when your sum insured gets exhausted and is restored by 100% in a policy year. However, the restoration benefit cannot be utilized for the same cause for hospitalization as the previous one (for which the sum insured is exhausted). 

    Restoration benefit is not available for the first claim of the year and cannot be carried forward to the next year if any sum insured is left after restoration. There are options for restoration after the whole sum insured is exhausted or after only a part of the sum insured is exhausted. 

    While some insurers provide restoration as in-built benefit, some others offer it as an add-on cover on an additional premium. 

  • Q. What is insurance portability? 

    Ans: As per the IRDAI guidelines, your health insurance policy can be transferred from one provider to another with all benefits acquired in case of pre-existing diseases, waiting periods, etc. intact. This facility is termed as Insurance portability and is available for both individual and family policies. 

Written By: Paisawiki - Updated: 20 July 2020
Disclaimer: Paisawiki does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)