Tejas got a call from his mom; from her panicked voice he got an idea that something was terribly wrong at home. Soon after he got to know that his dad met with an accident at home injuring his hip. Tejas works in Mumbai and now has to rush home to Nasik where his parents are residing. Tejas’s dad is in the hospital and has to be operated as his hip joint is completely damaged.
Tejas is in big trouble as he is worried about the huge expense that is required for the surgery. Somehow with the help of relatives and friends he managed to gather the money for the surgery after two days. Soon his dad was discharged home from hospital and Tejas realized that he made a big mistake of not having a health insurance policy for his parents. If he would have had health insurance for his parents, he wouldn’t have had to borrow from others.
Tejas immediately rectified his mistake by getting medical insurance for his parents. You can avoid a similar situation like Tejas, if you insure your parents with medical insurance.
What does Health Insurance do?
Health insurance is an insurance that covers your medical expenditure. Life is not predictable and uncertain events can occur anywhere and anytime. In such times, if a person is secured with health insurance he will get the timely medical treatment and also doesn’t have to worry about the huge expense which is required for the treatment. It is always safe to secure your health, no matter what your age is !
Why is Health insurance a must for your parents?
Your parents were there with you in all walks of life. They sat next to you when you were down with fever and also ran behind to when you were playing. They took care of you so that you don’t fall and face any kind of difficulties. But what are you doing in return? The best way to secure your parents against the future health problems is buying a health insurance policy for them.
But, why do we need health insurance for our parents?
Rising Medical Costs:
The medical costs are rising at alarming rate with the advancement of science and technology. Even when you are down with cold and cough you have to spend hundreds of rupees to consult a doctor. Then think about the major health crisis which can arise anytime in old age. During such times, health insurance can always help you and avert the pressure of making a dent in your pocket.
You may think that my parents are always fit and hearty. Why should they buy health insurance for themselves? Uncertainties can occur in time even if your parents are fit and healthy. The high medical costs make it difficult even for a rich person to empty his savings. Having a health insurance will help in managing the hospitalization expenses if they suffer from any health conditions in future.
Many children stay away from their parents for their jobs. Children put their best efforts to secure their parents. If you take example of Tejas, he wouldn’t have to go through problems if he would have taken health policy for his parents. Having a health policy facilitates you to get treatment from good network of hospitals without any delay. With the help of health insurance, parents can also get the benefits of cashless service if they have to undergo any planned or unplanned surgery without any tension and hassles.
Pre Existing Diseases:
Health insurance premium increases with age. Parents generally get themselves covered by health insurance between 50 to 60 years of age. They have to wait for a period of four years to get cover against pre existing diseases. To avoid this, one can do a normal check up after age of 45 and then buy a health insurance policy. For those of you who haven’t taken the health insurance for their parents till now, you can opt for best health insurance for senior citizens in which the waiting period for covering pre existing disease is less but the only glitch is that you have to pay high premium.
Your health insurance policy will also enable your parents to enjoy a tax benefit available under Section 80D of the income tax act 1961. Every tax payer can avail an annual deduction of Rs. 15,000 and in cases of senior citizens you get the tax benefit of 20,000.