As you grow up, your parents grow old. This is the sad reality of life. You see them age and lose their vitality, and wish to guard them against the many challenges that lie in store for them. While being there to take care of them 24*7 may not be possible, you can still make sure that they get the best of amenities to lead a happy and healthy life.
One crucial aspect of safeguarding your elderly parents is purchasing a mediclaim policy for senior citizens with adequate coverage. You will need this coverage for them to deal with several health challenges related to their old age.
Here are a few reasons why purchasing a Mediclaim policy for senior citizens is imperative for both you and them:
As your parents age, their immunity and resilience are likely to go down further. This makes them vulnerable to many diseases. You may also find them complaining about joint pain, breathlessness, and other such conditions, which could be a symptom of severe health complications. Problems like hearing loss, heart blockage, Alzheimer’s, and several others are common among people in their 40s and 50s. It is mainly because of factors such as poor diet, lack of exercise, increasing cholesterol levels, and blood pressure.
Mediclaim policy, as provided by reputable insurers like Tata AIG, offers many benefits, like coverage for a second opinion, domiciliary treatment, hearing aid, inpatient dental treatment, along with covering for pre and post-hospitalization expenses. You can purchase a Mediclaim policy for senior citizen parents with add-on coverages to offer them extended protection.
2.No Proper Income Source
Your parents, who would most likely be retired or non-working in their old age, may or may not have any regular source of income. Moreover, you may not be sure if their savings or invested money would be adequate to meet with expensive health care costs. To ensure that they get quality treatment without facing financial burden, you must buy Mediclaim policy for senior citizens. This will enable you to provide them with the best quality medical care and treatment in a relatively easy and stress-free manner.
Having health insurance coverage for your parents who are above the age of 60 also enables you to enjoy tax benefits while securing your dear ones. Under section 80 D of the Income Tax Act, you can enjoy the tax benefits of up to Rs. 50,000 on the premiums that you pay towards your parents’ senior citizen health insurance policy. Therefore, buying a Mediclaim policy for your old parents will not only keep them secured but also help you save your hard-earned money.
4.Reduced Financial Stress
Medical costs are rising at an increasing rate in India and can cause a dent in your pocket easily. A bypass surgery, one of the most common among elderly people in India can cost anywhere between 1.5 to 6.5 lakhs, while a knee replacement can cost you between 2.5 to 5.5 lakhs, says the source. Many medical treatments also require post-hospitalization nursing care too, which may further escalate medical costs.
Being young or middle-aged, you may have many other responsibilities and financial obligations to meet. Therefore, spending a considerable sum of money on hospital care and treatment costs from your pocket may not be feasible. However, if you have a health insurance cover, you will only have to pay annual premiums on the policy, against which you will receive substantial financial support at a time when your parents need to undergo a surgery or any medical treatment.
Protect your Parents the Best way
If you often worry about your aging parents, just worrying won’t solve the problem. Purchase the right Mediclaim policy for senior citizens and secure your parent’s health and well-being in the right way.