Should you get a separate health insurance plan for your grandparents?

Many grandchildren have been loved and pampered by their grandparents, especially as kids, with the bond between them only growing stronger with time. But growing older has its drawbacks, a major one being declining health. Watching your grandparents struggle with their health can be difficult and heart-wrenching. Not only can this take a toll on your mental well-being, but it can also affect your family's finances.

With a regular family health insurance plan, the coverage offered is limited to individuals under the age of 65 years. This means many senior citizens above that age are left vulnerable to the financial drain brought on by health emergencies and hospitalisation expenses.

Senior citizen health insurance

Senior citizen health insurance for grandparents is more than just a safety net; it's a lifeline that provides a sense of peace and a feeling of security for our beloved elders. As our loved ones grow old, their health becomes a top priority, and a comprehensive health plan tailored to their needs becomes essential.

If you want to purchase a good health insurance policy for your grandparents, you may want to consider investing in an insurance policy for senior citizens. This type of plan exclusively covers people over the age of 61 years. Niva Bupa's Senior First Health plan offers coverage from INR 5 lakh to INR 25 lakh without a co-payment requirement.

If your grandparents are above the age 0f 60 & above and you are looking to purchase a health insurance policy for them, the Niva Bupa Senior First Health plan is the one to go for. You can choose between an individual cover or family health insurance cover with either a gold or a platinum package based on your requirements. The platinum cover offers a reassurance benefit which allows the policyholder to avail an unlimited base sum, thus making funds available to those with chronic illnesses and undergoing long-term treatments.

Under this plan, health insurance benefits cover not only modern treatments but also Ayurvedic, Siddha, Unani and Homeopathic treatments. The policy coverage includes day care treatments like angiography, dialysis, radiotherapy, chemotherapy, etc., pre- and post-hospitalisation expenses from 60 days before hospitalisation and up to 180 days after. Coverage also includes medical expenses for organ donor's treatment.

Why buy health insurance?

Health plan empowers us to seek the medical care we deserve without fearing a financial abyss. It's a safety valve that ensures access to quality healthcare, enabling early detection, timely treatment, and preventive measures. From routine check-ups to unexpected emergencies, health policy allows us to concentrate on our well-being and that of our loved ones rather than worrying about exorbitant medical bills. It's an investment in our future, a testament to our commitment to living a healthy and fulfilling life. With health insurance, we can confidently face any health challenge, knowing that our physical, emotional, and financial well-being are protected.

One of the major reasons to buy health insurance is protecting your finances. Hospitalisation expenses tend to drain your savings and can put a strain on your credit line, especially if the hospitalisation is prolonged. Unfortunately, in the case of senior citizens, medical situations can escalate quickly. With a good family plan or an individual health insurance plan that also covers senior citizens, the sum insured will take care of the expenses.

You can also take advantage of cashless health insurance benefits by letting the insurance company settle directly with the network hospital. Although a secondary benefit, you can also apply for tax exemption under Section 80D of the IT Act against the health insurance premium amount.

Niva Bupa's Senior First Health plan offers an annual health check-up, which can be availed from the very first day of the policy coming into effect. Also, if a hospital bed is unavailable and treatment is taken at home based on the doctor's advice, the individual and family health insurance policies both cover domiciliary treatment.

Tips to select health insurance plans

If you are looking at policies to purchase, you may want to understand how to select the best health insurance plan for your grandparents. Selecting a policy without due diligence will only do more harm than good. Some of the few things you need to consider are –

Coverage – Take into account the scope of coverage of the health insurance plan and note down the policy inclusions and exclusions.

Add-ons – Add-ons are a great way to enhance your policy, explore which ones are available but only select the ones relevant to you.

Premium – Premium amounts vary from policy to policy based on the individual's health and risk assessment. Keep an eye on the amount of premium quoted.

Research – The best way to select health insurance plans that are the most relevant to you and are pocket-friendly is to research and be aware of all good policies on offer. You will get an understanding of what the insurance market offers, which will go a long way in narrowing down the best health insurance plans for you.

Compare – Another trick in your kitty to help you get the best deal on your health insurance is to compare quotes from different plans and insurance providers. Check the inclusions, exclusions and add-ons on offer, along with other conditions of the family and individual health insurance policies.

Final Thoughts

We understand the immense love and care you have for your grandparents. However, we recognise the unique challenges they face as they age, particularly when it comes to their health. That's why we firmly believe in the importance of getting separate health insurance for grandparents. 

Our dedicated plans are specifically designed to address the evolving healthcare needs of senior citizens, providing comprehensive coverage. Investing in a separate health plan ensures that your grandparents receive the best possible medical care without any financial burdens on your family. At Niva Bupa, we are committed to supporting you in safeguarding the well-being of your beloved elders and helping you create a future where their health and happiness are never compromised.