Can NRIs Buy Health Insurance Policy for their Parents Living in India?

As a Non-Resident Indian (NRI), you can ponder over the question: Can I buy medical insurance for parents living in India? While NRIs never underestimated the importance of health insurance plans in India, this question has gain relevance especially because of the outbreak of the pandemic. The answer is: yes, NRIs can easily buy a mediclaim policy for their parents. In the present challenging times, the best health insurance plan for your parents can not only allow them access to the state-of-the-art healthcare facilities but also protect them from the hospitalization expenses.

Choosing Right Health Insurance for Parents

As an NRI, you can choose to buy individual health insurance for your parents. You can also purchase a family health insurance plan while adding the names of your dependent parents to the policy. But if your parents are elderly, it is best to zero in on a senior citizen health insurance policy. Also, when it comes to buying health insurance plans for your parents, you can also zero in on health policies for specific requirements. These include the critical illness policy, personal accident insurance and Corona Kavach (available both as part of individual and family floater health plans).

The Importance of Health Insurance for Senior Citizens

If as an NRI, you have elderly parents living in India, it becomes of paramount importance to protect their health via a suitable NRI insurance policy. You can choose to buy senior citizen health insurance plans, providing for the specific needs of your parents. This is because elderly parents can be susceptible to a host of diseases, including critical illnesses. To have a sound health insurance portfolio for your parents you can choose to have different plans for them, including an individual or senior citizen health plan, critical illness plan and Corona Kavach.

Tips for Buying Health Insurance Plans for Parents

1. Choose a Policy with Top Benefits:

If you are planning to buy a mediclaim policy for NRI to provide coverage to your parents, always select a policy which provides comprehensive coverage along with top features. Look for health policies having the following benefits:

• No room rent cap.
• Access to alternative treatment.
• Coverage for daycare treatments.
• Provision for OPD and diagnostic cover.
• In-built travel assistance.
• Coverage for pre- and post-hospitalization costs.
• International coverage.
• High-value sum assured.
• Cashless claims at network hospitals.

2. Look at the Exclusions and Inclusions:

While buying NRI insurance for your parents, do remember to read the list of treatments covered in the policy along with the medical procedures excluded from treatment. If you are buying a critical illness policy, go through the list of critical illnesses being covered. Select a policy, which covers major critical health conditions, like cancer, deafness, loss of speech, end-stage liver/lung disease, major organ transplant, viral hepatitis, coma, kidney failure, stroke, paralysis, open heart replacement, open heart CABG, and so on. In the case of Corona Kavach policy, consider crucial variables such as coverage for Covid-19 hospitalisation expenses, home treatment expenses, AYUSH cover and coverage for comorbidities.

3. Look for Restrictions of the Policy:

Before buying health insurance for parents look for restrictions in the age limit; both for enrollment and policy renewals. You can select a policy which provides the twin features of no age restriction for enrollment and assured renewability for life.

4. Look for the Waiting Period:

In case your parents are suffering from pre-existing diseases look for a policy which provides the minimum waiting period. Look for policies having waiting periods, ranging from 24-48 months for the specified medical ailments and conditions.

Documents Required for Availing Mediclaim Policy for NRI

For buying health insurance for parents, you are required to submit a filled-in proposal form along with proof of Indian citizenship. You can also be asked to submit documents, like your Income Tax Returns (ITRs).

Conclusion:

Thus, as an NRI, you can easily buy medical insurance for parents and provide them with adequate health coverage in India. You will also receive tax benefits, from your taxable income in India, for making premium payments for your parent’s health insurance policy. While selecting the best health insurance plan always select a trusted and reliable insurance company. With a claim settlement ratio of 92% and hassle-free claims procedure, you can select Niva Bupa for your varied health insurance needs! Remember, Niva Bupa provides cashless hospitalisation facilities across more than 4,500 hospitals in India.