Buying health insurance for parents? Check these 5 things before you pay the premium
Medical costs are rising every year. Even a short hospital stay can put a big dent in savings. That is why many families are buying health insurance for ageing parents. But choosing a policy only because it. . .
Medical costs are rising every year. Even a short hospital stay can put a big dent in savings. That is why many families are buying health insurance for ageing parents. But choosing a policy only because it has a low premium or high sum insured can prove costly later. Every health plan comes with its own terms, waiting periods and limits. Before paying the premium, spend a few minutes checking important features that can make a real difference when you need to raise a claim. Does the policy cover pre-existing diseases?Most senior citizens already have conditions such as diabetes, high blood pressure or heart disease. Check whether these illnesses are covered and how long you will have to wait before coverage starts. Every insurer has its own waiting period for pre existing diseases. Buying insurance early can help complete this waiting period before major medical treatment becomes necessary. How large is hospital network?Cashless treatment is one of the biggest advantages of health insurance. Before buying any plan, check whether hospitals near your home are part of the insurer’s network. If your preferred hospital is not included, you may have to pay treatment expenses first and claim reimbursement later. A strong hospital network can make hospital admission much smoother during an emergency. Are the any co-payment or room rent limits?Many buyers ignore policy conditions and look only at the premium. Some senior citizen plans include a co payment clause, which means policyholders must pay a fixed share of every hospital bill from their own pocket. Some policies also place limits on room rent. Choosing a room that exceeds this limit can increase your out of pocket expenses. Read these conditions carefully before making a decision. Is sum insured enough as per inflation?Healthcare expenses have increased sharply in recent years. A policy with low coverage may not be enough for surgeries or long hospital stays. Compare treatment costs in your city and choose a sum insured that offers reasonable financial protection. If your budget allows, look for plans that offer automatic restoration of the sum insured after it is exhausted during a policy year. How easy is the claim process?Claim settlement becomes important when you actually need the policy. Check how claims can be filed, whether cashless approval is available round the clock and what documents are required. Also review the insurer’s claim settlement record and customer support options. A policy with a simple claim process can save valuable time during a medical emergency. Buying health insurance for parents is not just about comparing premiums. It is about choosing protection that works when your family needs it most. Reading policy terms carefully before making a purchase can help avoid unpleasant surprises and ensure better financial security during medical emergencies. Also read: Is your PF account credited with 8. 25% interest? Complete guide to check your balance onlineDisclaimer:This article is published by News24 for informational purposes only and should not be considered insurance or financial advice. Health insurance benefits, exclusions, waiting periods and claim conditions vary across insurers and policy terms. Readers are advised to verify policy details with the insurer and consult a qualified financial advisor before making any purchase decision. AdvertismentFirst published on:Jul 16, 2026 11:28 PM ISTGet Breaking News First and Latest Updates from India and around the world on News24. Follow News24 onFacebook,Twitter. End of ArticleRelated Story