Illnesses are more complicated now than they've ever been
What do you do when your parents don't have health insurance?
We all have questions about health insurance. Getting your parents insured is even harder.
Health insurance, especially, is hard to understand because there are so many conditions.
You might also be caring for your parents as a professional, which means you need health insurance to cover their medical needs.
A sudden illness can drain your savings and put a damper on your plans for a rainy day.
During times like these, what can you do to ensure the health of your parents?
It is easier to secure coverage through your organization when your parents are added as dependents. Employers Insurance- If your company provides you with health insurance, take advantage of that. Your cover can be increased by paying a minimal amount of premiums each year by topping up.
You likely have a group plan that covers all your family members, if you have purchased health insurance. These group plans cater to the needs of several members, so they will be exhausted quickly. In order to increase the total amount of cover for your parents, purchase individual plans.
The Indian government offers tax benefits for seniors with specific illnesses like AIDS, malignant cancer, neurological diseases, etc., under 80DDB. You can claim a tax deduction of *100000 or expenses incurred for treatment, whichever is less. For citizens under the age of 60, the tax deduction is *40000.
Buying insurance when you are young will ensure you are protected. Companies also have the policy of pre-existing diseases, which is why some people cannot obtain health coverage. Prevention is always better than cure. You may be able to obtain a better insurance policy if you buy early.
Choosing a health insurance plan can be difficult with complicated clauses and insurance agents trying to mis-sell their products. If your parents cannot obtain coverage due to their medical history, start maintaining a health insurance fund.
Do not hesitate to ask questions, compare several health insurers and formulate a plan to obtain the maximum level of coverage.