No gift can reciprocate the love and affection that parents bestow on their children. But we—as children—try hard to find that perfect gift for them. But what can that be? With a myriad of options to choose from, you may be confused. And that’s why, on the occasion of Parents’ Day, here’s OneInsure to help you pick the best gift for your parents. And, as you may have already guessed from the title, the best gift that you can give your parents is Health Insurance.
Why Health Insurance?
If you’re considering gifting your parents something that can be very useful to them, health insurance is the answer. With a health insurance plan, which will take care of the expenses incurred during medical contingencies, you can be rest assured that they would get the best medical treatment, without any sort of delays or hassles at the reception of hospitals. Such a token of love can come in handy any time and will provide a great relief when the time comes.
But before you set out to buy a health plan, make sure you have taken the following aspects into consideration:
Compare Health Insurance Plans Online
With a plethora of choices out there, ranging in features, benefits, and add-ons, how do we navigate the best of the best? Technology has made it simple. Click here and once you get on the landing page, fill in the details, such as Your Gender, Members to be insured, and City. Then click on GET QUOTE and you will see a list of health insurance plans. Compare them keeping in mind the features and benefits you’re looking for.
Wondering what features and benefits to look for? Read Your Last-minute Guide to Shopping for Health Insurance.
Individual Cover or Family Floater?
In case of a family floater, the coverage amount floats among insured members. To illustrate, a couple opts for a family floater that offers INR 5,00,000 as the coverage amount. Now, in a particular year, one of them gets hospitalised and that results in the exhaustion of the entire cover amount. Consequently, the other insured member is no longer able to avail benefit in the same year.
You must note that parents will be more prone to illnesses and the chances of both of them getting hospitalised are high. So, we suggest that you get individual health insurance policies for your parents that will provide them adequate coverage amount.
Certain illnesses, such as cataract, hernia, and piles, are covered after a waiting period. This period generally ranges between 2 – 4 years. So, if your parents are suffering from an illness/es that are likely to come under the Pre-Existing Illnesses clause, opt for a plan with a shorter waiting period.
Under the co-payment feature in a health insurance plan, the insured member/s is first supposed to pay a pre-defined percentage of the total claim amount, with the rest being paid by the insurer. To give you an idea, let’s assume that the co-payment ratio under a health plan is 80:20. Here, the insured member, when hospitalised, is liable to pay 20% of the total claim amount while the other 80% will be taken care of by the insurer. So, while comparing your options, check the co-payment clause as well. Go with a plan where your share of payment is lower.
As a parting note, we suggest that you don’t make any delays in getting your parents under the protective umbrella of a health plan – especially if you’re reading this around Parents’ Day! Give them the gift of the best healthcare possible.