This past year has taught us that there is nothing more precious than health. As we all continue to fight the pandemic and prioritize the health and well-being of our family, here are five reasons that make ‘a comprehensive insurance cover’, the ideal gift for your parents anyday.

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Financial Cushion For Medical Emergencies

Almost every other family has needed to seek out some form of medical services in the past year. For families with severe COVID cases, the experience of footing expensive medical bills has been mentally and financially crippling. The pandemic has been a wake-up call. Alongside encouraging savings, it has taught everyone to be better prepared in case of unforeseen medical emergencies.

Opt for a health insurance plan that covers, critical illnesses, pre- and post-hospitalization expenses, and both in-patient and daycare treatments under hospitalization expenses. This will ensure that all surgeries and treatment relating to a medical emergency will be covered under your health insurance plan.

Apart from basic hospitalization coverages, make sure your policy gives a comprehensive coverage for alternate treatments like AYUSH (Ayurveda, Unani, Siddha and Homeopathy), Day Care Procedures, Organ Donor Expense or for modern technologically advanced options like Robotic Surgeries, Stem Cell Therapy etc. A policy that covers all the above can be deemed to be a comprehensive one.

Regular Medical Check-Ups

Diabetes, high cholesterol, arthritis are just some of the many ailments that commonly plague the elderly. With regular medical check-ups and consultations with specialists, these can be kept in check, but the hospital bills may pile on.

To prevent this, health insurance should be part of your parents' retirement plan. An adequate health cover can offer free medical checkups and cover the costs of frequent medical screenings.

Afford Domiciliary Hospitalization Care

If there ever arises a situation when your parents need at-home care for an ailment, the costs of hiring a 24/7 at-home caregiver can be quite steep. Domiciliary hospitalization is the term used to refer to such cases, where the patient is treated from home.

A good medical insurance plan will provide coverage for domiciliary hospitalization. So, if ever an unfortunate situation arises where your parents needs at-home care, the health cover that you pick for them can afford them the luxury of receiving the best treatment at home, without burning through your family’s savings.

Cashless Hospitalization and Treatments

Cashless is the mainstream feature that makes health policies a blessing in disguise in case of a medical emergency. It is advisable to go for a policy that offers your cashless coverage throughout the country with a wider set of hospital network but what is most important is getting holistic coverage in your city of residence, make sure to look up the list of hospitals near to you and whether your insurance policy will provide cashless hospitalization in them. Because at the time of a health emergency, there is no point in running from pillar to post trying to find a hospital that falls within your insurance company’s network.

Therefore, in the unfortunate case of a medical emergency, your parents will not have to bear the additional stress of arranging for liquid cash.

Secure Health In Their Retirement

Most employees receive medical insurance from their employers, which lapses as soon as they retire. A personal individual comprehensive health cover will ensure that your parents have active health insurance as part of their retirement plan.

The author, Rakesh Jain, is ED and CEO at Reliance General Insurance. The views expressed are personal

First Published:Jun 18, 2021 4:19 PM IST