Health Insurance for Parents: Things You Need to Know | PayBima |

Giving Health Insurance to Parents – Khushi Ka Tohfa, New Gift Insurance by PayBima

No amount of money in the world can repay all that our parents do for us or do for us throughout their lives. But there is something we can do to make them feel that we are loved and that we are important. Read on to find out the best gift you can give your parents to protect them in their old age.

When it comes to giving gifts to our parents, we often fail to think because there is not much that can show our eternal love and most importantly appreciate them. But there is one thing that every child can do – to take care enough for their parents to protect their good years (retirement). This is why many children prefer to buy health insurance for their parents as a token of their love, care and gratitude to the latter.

This blog explains why health insurance plans It is definitely the best choice for any parent – a gift that is worth more than anything else.

Why Give Your Parents the Gift of Health Insurance?

As our parents get older, what they want and expect from us is less attention to their needs. Their needs are also very limited. As they age, the most important thing is to take care of their health – physically and mentally. And to prove this, they often spend a lot of money on medical care.

In times like these, a health insurance for adults helps, providing financial support for their medical expenses. This means that your parents can now live their retirement life without worrying about how to meet their expensive medical needs and get the best general health care without taking more money out of their pocket.

Health insurance offers the perfect solution to all of these and more!

Benefits of Health Insurance for Parents or Seniors

Let’s take a look at some of the benefits that health insurance can provide to senior citizens:

  1. They offer a wide range of insurance: Sum insured is the amount of money promised to the owner under the health insurance policy. In this case, when you buy a drug policy for your parents (who have a policy), they will be entitled to a large amount of insurance that will ensure that they can meet all their medical needs without worry.
  2. It affects pre-existing conditions in the parents: As they age, your parents may develop certain immune disorders or diseases. It is possible that they may have a pre-existing disease or health condition at the time of purchasing the insurance. The advantage of health insurance for parents is that it provides coverage for pre-existing conditions. However, there may be a waiting period of 2-4 years for this to happen.
  3. It provides health protection for life: This is one of the most important aspects of health insurance plans for parents. They provide financial security to seniors to meet their health needs throughout their lives. Senior citizen plans usually have a flexible life, meaning that the plan can be renewed at the end of the term until the death of the owner (whole life).
  4. It causes serious diseases: If your parents are unfortunately diagnosed with a serious illness, such as heart disease, cancer, stroke, etc., health insurance for parents over 60 years of age can often provide financial support for medical treatment. The costs are often high so financial assistance from health insurance can be very helpful at this time.

Also Read: Difference Between Insured and Assured – Are You Insured or Assured Under a Health Insurance Policy?

How Can You Buy Health Insurance for Parents?

You may want the best health insurance for your parents because they only deserve the best. That’s why it can help to keep a few important points in mind before purchasing a health care plan for your parents:

  • Look for a short wait time. Most health insurance plans for seniors come with a waiting period for applying for pre-existing conditions. This is done to prevent the loss of insurance because the owner can purchase the policy to cover the cost of treatment for a pre-existing condition. This is why several multi-citizen plans have a waiting period of 2-3 years where no interest is already paid by the insurer. So it is important to choose a policy with a minimum waiting period to avoid problems for the insured.
  • Check for adequate health care costs: Although you may want to consider adding dependent parents under a family insurance policy, if you have one that applies to other family members. However, please note that for senior citizens, who are of growing age, the premium amount increases for the family floating plan. This can add weight to your pocket. Therefore, the best option would be to buy a separate health insurance policy for your parents. This policy will provide health care benefits to your parents only, without burdening your finances.
  • Check the renewal age limit: Your health insurance plan may have enrollment and withdrawal limits. Entry age refers to the number of years the user can use the policy and exit limit refers to the maximum number of years the policy is allowed to renew, if it expires. In general, most health insurance policies have a policy that expires between the ages of 75 and 80. This means that the policy will not be allowed to be renewed if the insurance years have exceeded these years. This is why try and always check the age limit specified for each policy at the time of purchase. It is better to look for those who provide protection for a long time (until the death of the parent).


Your parents deserve the best gift they will cherish for the rest of their lives. This is why finding the best health insurance for parents makes perfect sense. To make the best decision for your parents, take a look Tohfa’s Khushi a plan offered by PayBima Insurance, India’s best health insurance company for parents. This plan aims to provide a wide range of insurance plans to gift your loved ones on their special occasions like birthdays, anniversaries, etc. Give your parents the gift of health insurance and protect their financial future for life.

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