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Health Insurance Plans for Parents
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Parents are our anchors, caring and nurturing us for as long as we live. However, as they age, they may become susceptible to different health conditions, so make their well-being your top priority. As healthcare expenses soar, you must have a reliable parent's health insurance plan to give them the required and timely medical attention.At Reliance General Insurance, we offer tailored health plans for parents that cover in-patient medical expenditures, pre-existing medical conditions, daycare costs, and other healthcare needs.
Parental insurance is a plan that covers medical expenses for parents, such as hospitalisation costs, treatment for pre-existing conditions, doctor consultations, pre and post-hospitalisation expenses and so on. It is designed to satisfy the unique medical needs of elderly family members. Health insurance for parents usually covers a range of healthcare expenses, from minor routine check-ups to major surgeries.Almost 400 million* Indian citizens have no access to health insurance. To add to their plight, 8.6%* of senior citizens pay out-of-pocket (OOP) healthcare expenses. These expenses underscore the pressing need for a specific policy for coverage-related illnesses, especially meant for senior citizens.
You purchase a health insurance policy for your parents depending on their coverage needs and budget while paying a monthly premium to maintain the coverage. When your parents require medical attention, planned or unplanned, the insurance plan takes care of the medical expenses.In other words, whether your parents need diagnostic tests, critical illness coverage, or alternative treatments such as Ayurveda, Unani, Siddha, and Homeopathy, their health insurance plan is available to cover a significant amount of the healthcare bills.You focus on spending quality time with your parents instead of worrying about the financial requirements for their healthcare services.
As your parents grow older, having dedicated health insurance for parents makes it easier to efficiently manage the expenses for both sudden and planned healthcare services.Here are some parental insurance benefits that promise health and happiness to your loved ones in their golden years:
Reliance General Insurance brings customisable health insurance plans designed specifically to cater to the exclusive needs of your parents. The table below highlights key aspects of various health insurance plans for parents in India:
Here is what makes health insurance for parents worth buying:
Here are some key features of health insurance for parents from Reliance General Insurance:
Sum assured can go up to ₹1 crore* under Reliance Health Gain Policy and ₹5 crore* under Reliance Health Infinity Insurance.
Reliance Health Insurance for parents has a no-compromise policy that puts your parents' well-being over everything else. From covering regular annual preventive health checkups to focusing on offering age-related benefits, a parent's health insurance gives you more coverage at attractive discounts. Here's why one of the cheapest health insurance for parents is also the best:
Our happy family of over 5 crore* policyholders prove our commitment to providing some of the best health policies in India.
Reliance General Insurance offers you a range of plan options that align with your health and budget needs. Choose from individual, family-floater and senior citizen plans.
We take pride in swiftly and fairly resolving your claims. We have a 100% claim settlement ratio*. With ‘Cashless Everywhere’, settle your claims immediately, anywhere in the world.
We offer easy online purchase and renewal options with minimal paperwork and no unnecessary medical check-ups to buy a Reliance health insurance plan.
Treatments, big or small, we will take care of it.
Choose how you want to be treated.
Precautionary check-ups are included because we care.
Choose the best for your loved ones.
Stay worry-free with Reliance General Insurance.
Reliance health insurance for parents brings to you four comprehensive policies. All four medical policies for parents ensure you give your loved ones undivided attention and care, no matter where they are.
Below are the key inclusions and exclusions in health insurance for parents:
When planning to have health insurance plans for your parents, you have two options. You can add them as a dependent on your policy or an employer-provided group policy until they reach the maximum dependency age of 60 or 65 years.The second option is individual health insurance plans for parents depending on their age-related needs and budget.
Keep these points in mind before you choose your parent's health insurance:
Always choose insurance for parents after assessing their needs and considering related details regarding the plan cover. Reliance Health Global offers international coverage anywhere in the world, including the US and Canada.
Check if your health insurance policy covers pre-existing diseases and their waiting periods. Reliance Health Insurance offers reduced waiting periods, thereby ensuring quick access to treatments.
Check the number of network hospitals associated with the insurance provider and their accessibility near your parent’s home. Reliance General Insurance has over 10,000+ network hospitals in India.
If you have ageing parents, you must check if their health insurance plan offers add-ons like critical illness or personal accidental cover. Reliance Health Infinity Insurance plan offers double cover with 100% of the sum insured for the same claim.
Select plans from insurers with a high claim settlement ratio for a hassle-free claim experience. Reliance General Insurance has a 100% claim settlement ratio* resolving claims swiftly and fairly.
Understand inclusions and exclusions before selecting a health insurance plan for your parents. Reliance Health Gain plan excludes non-allopathy treatment except AYUSH, adventure sports, and cosmetic surgery.
Compare policy features, parental insurance benefits, and pricing at the click of a button. Reliance General Insurance has a user-friendly platform making it easy to buy policies from anywhere.
Access all policy details and easily compare plans online. Quick side-by-side comparison helps you make a more informed purchase, ensuring you select a plan suited to your needs.
You can apply for a policy within minutes from your home and get immediate confirmation of its issuance. This helps you save time in case of a medical emergency.
Online policy purchases have discounts that will help you save more. Since insurance providers save on operational costs, you get a better value for your investment.
Paying online via digital portals is both safe and convenient. This ensures maximum transparency of payments made without the hassle of cash or cheques.
Buying mediclaim policy for parents through the online mode eliminates the issue of managing multiple documents. All documents are stored online and sent directly to your registered e-mail.
You can follow the below steps when buying a mediclaim policy for parents online from Reliance General Insurance:
Premium is the amount paid to the health insurance company to maintain your coverage. Your premium amount depends on factors like age, health conditions, add-on options, etc.
This is the amount you must pay before your policy begins paying for the expenses covered. Deductibles can impact your health insurance coverage, for instance, higher deductibles mean lower premiums.
It is a percentage or fixed amount paid by you against medical expenses incurred. The insurer pays the remaining amount during a claim settlement. A doctor’s fee is an example of a copay.
It is your share of the cost incurred during a medical expense. If your policy states a 30% coinsurance, it implies you are liable to pay 30% of the medical bill.
OOP expenses in Health Insurance are the amount of money you have to pay for medical expenses not covered by insurance. Copays, coinsurance, deductibles, and non-covered health care expenses are OOP costs.
You can renew a mediclaim policy for parents online through the Reliance General Insurance website or Reliance Self-i app. Both the processes for renewing parental medical insurance follow a simple 3-step procedure.
Note: Almost all health insurance plans for parents offer a grace period for policy renewal. It can vary from 15 to 30 days, depending on the insurer. No insurance coverage is provided during this period, but your policy is intact. Failing to renew your policy within the grace period will lead to a lapse and loss of all accumulated benefits.
According to Section 80D of the Income Tax Act, 1961, you are eligible for deductions on the money spent towards health insurance plans for parents.You can claim the premium paid towards maintaining a mediclaim policy for parents for up to ₹50,000 for individuals below 60 years of age. The maximum deductions allowed is ₹1 lakh for individuals above 60 years.Another parent's insurance tax benefit is preventive health checkup expenses. Suppose the aggregate insurance premium paid towards health insurance plans for parents is within the maximum limit. In that case, you can claim up to ₹5000* under preventive health check in a given financial year.
India is the second most populous nation in the world, with 1.4 billion citizens and growing. Almost 10% of this population is above 60 years of age, with an average life expectancy of 67 years*.Health is a top concern for densely populated economies like India. When a country's gross domestic product depends on the health of its working population, finding an adequate mediclaim policy for parents becomes vital.As of 1 April 2024, the Insurance Regulatory and Development Authority of India (IRDAI) has removed the 65-year age limit for those looking to buy one of the best health insurance policies in India for parents.However, health insurance penetration in India is low due to limited reach and lack of education. Despite a rise in the adult literacy rate in India at 69.3%*, out-of-pocket expenditures account for 62.6%* of the total healthcare expenses. It is considered the highest in the world.A comprehensive health insurance policy for elderly parents is crucial for timely and required healthcare services, from bearing the cost of ambulance charges during an emergency to ancillary services like diagnostic tests.If you are searching for the best health insurance in India for parents, choose Reliance General Insurance, which provides plans at affordable premium options. Additionally, you can get up to 40% discounts* when you purchase the policy of your choice online.
As parents reach their 60s, they tend to become more susceptible to common illnesses. These lifestyle and age-related medical conditions may require frequent visits to hospitals.Rising medical costs add to the financial and emotional strain, focusing on the need for a comprehensive parent's health insurance plan. In these scenarios, health insurance plans for parents offering tailored coverage to meet their health needs become vital.
Note: Unless you opt for a child health insurance plan, eligibility criteria for adults start from 18 years and go up to 65 years*
When it comes to caring for your parents' changing health needs, you need to consider their medical needs and potential healthcare expenses.The amount of medical coverage for parents depends on various factors, and each aspect should be considered carefully before making a purchase.
Calculating health insurance premiums for parents helps you get an accurate estimate of the amount you need to pay for regular health insurance coverage for parents. At Reliance General Insurance, we consider several factors, including age, policy type, sum insured and add-ons, to calculate the premium for health insurance for parents.
Go to Reliance General Insurance and find the Health Insurance page.
Provide your age, phone number and other basic information.
Mention insurer details, the coverage amount needed, and any add-ons you wish to include. Our built-in health insurance for parents premium calculator will give you an estimated price along with discount options once you click "Get Price".
As a policyholder, you can choose a cashless claim for parental insurance or a reimbursement claim as per your convenience. Mediclaim policy for parents by Reliance General Insurance offers a straightforward claim process. With a 100% claim settlement ratio, Reliance General Insurance has paid over ₹6,921 crores* in claims.
The insurer will verify your claims and supporting documents. Once the claim process is complete, you will receive the reimbursed amount in your linked bank account.
At Reliance General Insurance we ensure health insurance for parents does more than cover you during medical emergencies. You can claim parents' health insurance hassle-free by providing the correct and original parent's health insurance documents listed below for different kinds of hospitalisations:
Note: The above list of documents is only indicative. You may have to submit scanned copies of original documents and additional information if required.
Buying health insurance plans for parents is an essential tool to protect your loved ones from unexpected medical expenses. Reliance General Insurance offers a variety of parental medical insurance plans that significantly impact your and your parent's life.The process of buying comprehensive health insurance for parents is not all black and white. There are grey areas that are easy to miss and can pose challenges during claim settlements. Keep these tips in mind when buying a mediclaim policy for parents:
Here is how you can select the best health insurance for parents:
Follow the below steps to buy a health insurance policy for parents online from Reliance General Insurance:
Before you buy health insurance for parents, check the below points:
A dependent in India can stay on their parent's insurance till they reach the age of 25. After 25 years of age, the dependent must get their policy to enjoy coverage. However, age limits can differ with insurers. Read your policy documents carefully before making a purchase.
When filing your income tax returns (ITR), no documents are required as proof to claim benefits under Section 80D of the Income Tax Act, 1961. However, it is important to note medical expenses claimed under this must have proof of payment in any mode other than cash.
You can choose a health insurance plan that covers pre-existing illnesses for them. The premium for these plans will be higher than others and include a waiting period. Choose plans that offer short waiting periods for diseases.
You can securely pay your premium amount by using your credit card, debit card, net banking, Unified Payments Interface (UPI) or through EMI (equated monthly instalment) on our website.
If both your parents have individual health insurance covers, you will need to pay premium amounts separately for each.
Health insurance premiums are influenced by various factors, including age, medical condition, medical history, type of coverage, and add-ons.You can use our online health insurance calculator to easily calculate your health insurance premium.
Health risks increase with age pushing health insurance premiums for your parents higher. More coverage means higher premium costs.
If your parents are pensioners, you can still pay for their medical coverage and get a tax rebate on the premiums paid under Section 80D of the Income Tax Act, of 1961.
At Reliance General Insurance, to file a health insurance claim, you'll need to provide your policy documents, ID proof, address proof, hospital bills, and any additional documents as required. You can contact us for the complete list of documents for your claim.
Both processes are simple, and your choice depends on your immediate medical requirements. However, cashless claims offer quick and convenient processing with no upfront payment required. At Reliance General Insurance, our health insurance plans include the 'Cashless Everywhere' feature, allowing you to benefit from cashless claims without being limited to network hospitals.
Cashless claims are settled directly with the hospital within a few days. Cash reimbursements can take up to three to four months after verification.
CSR or Claim Settlement Ratio is the percentage of insurance claims settled by an insurance company compared to the total claims received within a specific period. A good CSR is typically 95% or higher. This means that the insurance company settles 95 out of every 100 claims it receives. Reliance General Insurance has a 100%* claim settlement ratio.
You can renew a health insurance policy for your parents online either through Reliance General Insurance website or Reliance Self-i app.
Almost all health insurance plans for parents offer a grace period for policy renewal. It can vary from 15 to 30 days, depending on the insurer. No insurance coverage is provided during this period, but your policy remains intact. Failing to renew your policy within the grace period will lead to a lapse and loss of all accumulated benefits.
You can adjust your parent’s health insurance policy coverage to meet their changing medical needs during renewal.
Usually, a pre-medical check-up is not required when renewing an existing health insurance policy. However, specific terms and conditions may vary depending on the choice of your policy. It's best to check the renewal guidelines provided by your insurance provider or contact their customer service for detailed information.
Disclaimer:*T&C Apply. For more details on risk factors, terms conditions, brochure, and exclusions, please read the policy wording carefully before concluding a sale. The details mentioned above are for multiple products such as Health Gain Health Insurance Policy UIN -RELHLIP21514V022021, Health Infinity Insurance UIN -RELHLIP21521V032021, Reliance Health Super Top Up UIN- RELHLIP21617V012021, Reliance Health Global UIN: IRDAN103RP0001V01202324, Corona Rakshak Policy, Reliance General Product UIN - RELHLIP21093V012021 and Corona Kavach Policy, Reliance General Product UIN -RELHLIP21092V012021.Premium: The premium mentioned is excluding taxes for single person agedbetween 5 years to 20 years with individual health policy for Sum Insured of ₹3 lakhs considering no adverse health conditions/pre-existing disease/medical conditions with waiting period of 3 years. For more details, please refer to the policy wordings. Premium used is 2,919/year converted into a month which gives us Rs.243/month (2,919/12).Tax Benefits: Tax benefits are subject to conditions under Section 80D of the Act and amendments thereof. The tax laws are subject to amendments/changes from time to time. Please consult your tax advisor for details.Claim settlement Ratio: This is the overall claim settlement ratio for FY 2023-24 without claim outstanding at the start of the financial year as per public disclosure of Reliance General Insurance Co. Ltd.Reliance Health Gain Discount: This is the maximum discount applicable for Health Gain excluding long term healthy discount (aggregate)Reliance Health Super Top Up Discount: Maximum discount applicable per for Reliance Health Super Top Up is 35%.Claims Paid: The claim amount paid mentioned above is for settlement of claims done across all Line of Business in FY 23-24 and are in lines with the data reported to IRDAI.
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