You can buy a health insurance policy for your parents for their medical treatment. While buying a policy, you should look for the entry age, the coverage options, compare different plans, go through the policy document carefully, etc.
Your parents have toiled to bring you up. It's now your turn to return the favour. Show that you care and convey it through the gift of health insurance. Give them a secured and stress-free life. Aging people are more prone to health-related illness and a health insurance policy will shelter the needs of your parents' health. A health insurance policy will ensure that your parents enjoy quality medical attention during their later years of life.
The cost of medical treatments in India have gone up immensely over the last few years which is why buying health insurance for your parents is an absolute must. Each year, health care expenses are said to be rising by 15-18%. An insurance will guarantee that your parents receive the best medical treatment without them having to spend their hard-earned savings on medical bills. And if you're working abroad, it becomes even more necessary for you to buy health insurance so that your parents receive utmost care and treatment even in your absence.
Planning for health and medical expenses beforehand has become even more necessary since the risk of common ailments have increased these days. Leading sedentary lifestyles may lead to osteoporosis among women, diseases related to heart, and most commonly diabetes. In the recent years, cancer, lung problems, influenza, and pneumonia have been the major causes for the death of senior citizens. Most of the elderly people have no source of stable income or savings and so, cannot afford the expensive medical expenses and end up losing their lives. To ensure that your beloved parents don't meet the same fate, it is in your hands to secure their life by choosing a health insurance that ensures financial coverage by taking away the burden of healthcare expenses.
Fortunately, health insurance providers today offer a myriad of policies for senior citizens. But more options can mean more confusion. So how do you decide which is the best health insurance for your parents? Here's what you need to keep in mind while buying health insurance:
Apart from ensuring that the health of your parents is well taken care off, did you know that your health insurance lets you enjoy tax benefits as well? The premium paid towards the health policy of your parents can offer a tax deduction of up to Rs. 25,000 and if either of your parents are aged 60 years and above, the maximum deduction allowed is Rs. 30,000.
A health insurance policy for your parents also makes them financially independent as they do not have to depend on anyone for their medical expenses.
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.