Parents, in their golden years, should be able to live a peaceful and relaxed life. Health insurance for senior citizens can help you handle their medical treatment expenses. In medical emergencies, affordability is not a concern with the best health insurance policies available for parents. 

Many people while they work, are insured by their respective companies. But it can be an issue once they retire. Also, after a certain age, it becomes difficult to opt for good health insurance policies. Therefore, it is important to have health insurance policy for senior citizens which can help financially in future. 

This naturally leads to questions like – what factors should I consider while choosing health insurance for parents? This blog aims to provide the answer and much more. 


Health insurance policies for parents or senior citizens generally comes with a co-payment clause. This clause says that the insured person has to bear a portion of the amount in case the insurance is claimed. Therefore, you can look for health insurance policies which offer low co-payment amount. Otherwise, opt for best deals considering other factors mentioned below.

Pre-existing illness

There are three important things you should check in health insurance for parents:

  • Exclusions on pre-existing diseases – Some insurance policies do not cover pre-existing diseases at all. Always make sure to check such terms and conditions. 
  • Coverage and waiting period based on age – Few insurance policies have set the age like 60 years or 65 years beyond which coverage and waiting period differs. Be proactive and understand the policy.
  • The waiting period mentioned in the policy for coverage – Insurance providers have different terms as far as the waiting period is concerned. Few diseases will be covered after 2 to 3 years of the waiting period. Other do not accept any illness contracted within 30 days from the beginning of health insurance. 

Claim process

Always find out the ease of the claim process and claim settlement ratio of the insurance provider. A simple and easy claim process is a blessing for senior citizens. Regarding the claim settlement ratio, such information is easily available on the website. The success ratio should be 90% or more. It will make life easy and relaxed for parents. 

Network of hospitals

Medical emergencies can happen at any time. Therefore, always look at the network of hospitals covered by the insurance provider. The more hospitals it covers in your area or around your city, the better. 

Critical Illness Coverage

Critical illnesses like Cancer, Heart problems, Renal failure, etc. can cause havoc in the lives of people you love. Critical illness coverage, as part of your health insurance policy, helps to handle finances better.

Other than these five reasons, it is worth noting that health care costs are rising exponentially in India. A health insurance policy for parents will generally cover hospitalization expenses, daycare expenses, ambulance charges, medical expenses etc. You can avail tax benefits and claim maximum deductions with health insurance policy taken for parents who are above 60. 

Future Generali is one of the leading insurance providers in India. For expert advice on health insurance and other information, contact us at any time.