Home Investment Products Insurance health insurance plan: What will be the best health insurance plan for my senior citizen parents and how much will it cost?

health insurance plan: What will be the best health insurance plan for my senior citizen parents and how much will it cost?

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health insurance plan: What will be the best health insurance plan for my senior citizen parents and how much will it cost?
I need to purchase a medical insurance cowl for my dad and mom aged 68 and 61. They don’t have any cowl at current. They don’t have any main well being points besides BP and diabetes. What would be the finest plan for them and the way a lot will it value?


Sarbvir Singh, CEO, Policybazaar.com replies, “As your dad and mom are senior residents, purchase separate medical insurance plans for them as a substitute of overlaying them beneath your loved ones floater plan. Since they don’t have any main diseases, go for a complete medical insurance plan that comes with no room hire limits or co-payments. There are a number of choices you may have a look at: Max Bupa Well being Companion or My Well being Suraksha Silver from HDFC Ergo are two very talked-about merchandise. The price of such plans shall be within the vary of Rs 4,500-5,200 per 30 days for Rs 5 lakh sum insured. In order for you one thing cheaper, there are alternatives with limitations similar to Star Pink Carpet or Care Senior. These include copayments and room hire limits, and shall be within the vary of Rs 3,400-3,800 per 30 days.”

A authorities worker, I’m enrolled within the CGHS for which I pay Rs 7,800 each year. I’m paying Rs 720 yearly for the Central authorities worker insurance coverage scheme. I even have an endowment plan, LIC Jeevan Labh, with a sum assured of Rs 7 lakh and unintended demise advantage of Rs 7 lakh, for an annual premium of Rs 32,547. Is my insurance coverage portfolio ample? Ought to I get a time period plan? My annual revenue is round Rs 9.5 lakh.

Sarbvir Singh, CEO, Policybazaar.com replies: “The essential rule of time period insurance coverage is that the sum assured must be 15-20 occasions your present annual revenue. The duvet ought to have the ability to present the household with ample revenue in case of an unlucky demise. You’ll be able to contemplate shopping for a time period insurance coverage coverage of Rs 1 crore sum assured which is accessible at a premium of round Rs 1,000-1,700 per 30 days for a 35-year-old.”

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