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I want to buy health insurance for my parents online. How to go about it?

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Published on May 19, 2021. EST READ TIME: 3 minutes

Kshitij Maheswari wanted to secure his parents health care needs, so he booked senior citizen health insurance for them. He bought the policies online, which he found to be quite convenient to do so. He began the process by conducting extensive research on the health insurance market and compared all available policies based on certain parameters. These factors aided him in determining the most suitable health insurance policy for his parents. Before we get into the online application process, let us take a look at the factors to consider when selecting health insurance for senior citizens.

Factors to Consider When Opting for Senior Citizen Health Insurance

• Maximum age of entry: Some insurance providers will cap their age limit at 70 years of age, while others may have no age limit at all. Before evaluating other features of the policy, it is always advisable to check the maximum age of entry. Also, the earlier you obtain health insurance for senior citizens, the lower your policy premium.

• Lifetime renewability: Like age, insurance providers may also have a limit on when you can renew your policy. It is pointless to purchase a policy that you will be unable to renew once you reach a certain age. Therefore, always opt for a policy that can be renewed indefinitely.

• Pre-existing conditions: Many critical and long-term ailments like diabetes, asthma, blood pressure, can be quite expensive. It may not be as useful if your health insurance policy does not cover the same things. So, always check to see if the policy covers pre-exiting ailments and co-morbidities.

• Maximum sum insured: Because health care inflation is on the rise, a sum insured that feels adequate today may not be adequate tomorrow. Before opting for health insurance for senior citizens, it is important to consider the maximum sum insured.

• Network hospitals: Every insurance provider will have its own network of hospitals where policyholders can reap benefits, such as cashless treatment, discounts, and so on. Always check what the network hospital coverage of your insurance provider. This list should include good hospitals in your vicinity that provide high-quality health care services to senior citizens.

• Premium: This must be affordable so that the policyholder can afford it, especially if transferred to a senior citizen who may have limited source of income.

• No claim bonus: This clause boosts the amount of coverage if no claim are files in the previous year.

• Co-payment: You should also need to see if the insurance provider allows co-payment, which is when the insurance company pays a portion of the medical expenses incurred.

Kshitij eventually decided on a senior citizen health insurance policy that included features such as sum insured rebound, claim benefit, cashless home health care, pre-hospitatisation and post hospitatisation expenses, day care procedures, organ donor expenses, recovery benefit, lifetime renewability, and no restriction on age.

This is how he ended up booking the policy online.

Six steps to book HI policy online

• Go to the insurance provider’s website

• Select the appropriate the senior citizen health insurance policy

• Go through the features of the health insurance (HI)

• Using the premium calculator, compute the premium

• Fill in the blanks with basic information

• Finally, pay for the health insurance policy and you are done

It really is that easy! The most difficult part is finalising on an appropriate policy. Before opting for a senior citizen health insurance policy, conduct thorough research and keep the aforementioned factors in mind. If you have any doubts, contact customer care service, who will connect you with an insurance agent.

Conclusion

The risk of developing ailments rises with age. Senior citizen health insurance is the most effective way to protect your or your parents’ health. The good news is that you can book the policy online in just six easy steps.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.