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How Can You Make Sure Your Parents Have Good Medical Insurance Coverage?

Everyone wants their parents to get the best care possible. It, however, becomes difficult due to rising medical costs. Medical insurance can solve this problem by providing financial assistance in return for regular premium payments. With sufficient research and planning, you can avail a mediclaim that provides comprehensive protection without straining your budget.

Many people struggle to know where to begin when navigating the confusing world of insurance. This article will discuss the importance of ensuring that your parents have adequate medical insurance coverage and provide suggestions for how to accomplish this.

Benefits of Mediclaim Policy for Parents

Whether your parents are nearing retirement age or already retired, it is important to understand their medical insurance options and make sure they are protected. The advantages of mediclaim insurance for parents are listed below.

Reduces Anxiety

As parents grow old, they become more vulnerable to diseases which involve expensive treatments. The increased health risk is a cause for worry. However, by getting insured, you are assured of financial support during medical emergencies. This results in peace of mind.

Quality Treatment

It is often challenging for older people to find a good medical care provider. Mediclaim policies provide cashless treatment at network hospitals, which have been assessed for quality by the insurer.

Financial Stability

Medical procedures can lead to substantial out-of-pocket expenditure. This can erode parents’ retirement savings and disturb their future planning. It is thus a wise decision to get insured for financial well-being.

Tax Savings

Medical premiums paid are eligible for tax deduction under Income Tax Act’s Section 80D. You are able to claim an additional tax exemption worth ₹50,000 if you have acquired a health insurance plan for parents who are over 60.

Tips to Select the Best Mediclaim Policy for Parents

With the numerous options available in the market, it is crucial that you opt for an insurance plan after a thorough investigation. Key factors that must be considered to select the best mediclaim for family are as follows.


Look for a holistic plan that includes inpatient care, pre and post-hospitalisation expenses, ambulance charges, preventative care, etc. It is also essential to check for pre-existing disease coverage for older people.


Opt for a policy that offers add-ons like a daily hospital allowance, accident benefit, critical illness rider, etc. that can enhance the policy’s coverage. The increased scope will lead to complete protection.


Compare premium rates, deductibles, discounts, co-payment clauses, and no-bonus provisions of different plans and choose the most cost-effective option. However, keep in mind that you will have to pay higher premiums to obtain a higher sum insured amount.

Network Providers

Go through the list of network providers and ensure that they cover the illness your parents are most susceptible to. They must also be located near you for easy accessibility.

Claim Settlement

Look for an insurer which offers a high claim-settlement ratio and a smooth process. A complicated procedure will unnecessarily add an extra strain.


Look for lifetime renewability so that your parents can enjoy lifelong safety without having to go through the arduous task of buying a new policy again and again.

Waiting Period

Choose the plan that has the lowest waiting period. You will thus be able to make a claim as and when the illness occurs.


Best mediclaim insurance in India will provide you with the facility of restoring the sum insured after a claim has been made and accepted. This will act as a cushion against medical inflation.  


Any decision must be made after assessing your parents’ health and determining their specific needs, such as prescription drug coverage or regular check-ups. In addition to the above points, you must also review the plan periodically to ensure that it continues to meet your parents’ requirements. Lastly, make sure your parents understand the plan details, such as how to claim mediclaim, its inclusions and exclusions, etc. Assist your parents in the enrollment process and help them with any questions they may have.


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