Protecting Parents

You don’t want your parents to age. But aging is inevitable. What you can do is provide them the best possible healthcare. With health expenses rising, especially due to Covid-19, medical expenses of parents can pinch your pocket hard. That is why you must buy a suitable health insurance policy for them. However, health insurance plans turn expensive with age. If your parents are 60-plus, covering both in a comprehensive plan (₹10 lakh cover) may cost you up to ₹50,000-60,000 a year. The other option is senior citizen-specific policies, with lower premium but some limitations.

As you do your research to zero in on the best health insurance for your parents, note that the premium should not be the only parameter. The policy should provide decent coverage in case of hospitalisation. “Take a note of pre-existing diseases (PEDs). If these are minor, such as mild hypertension.