What to check before buying health insurance for parents over 60

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Once your parents cross 60, medical costs become a big worry. A single hospital stay can run into lakhs, and relying only on savings isn’t smart. That’s where a health insurance plan comes in — it helps cover large bills, eases stress during emergencies, and keeps retirement money intact. The challenge? Policies for seniors tend to be pricier, and the fine print matters a lot more.

Premiums and coverage go hand in hand

The first thing to check is affordability. Premiums for parents in their 60s are much higher than for younger people — think ₹35,000-₹60,000 a year for decent cover. Don’t just look at the price tag though. Check if the sum insured (₹5-10 lakh minimum is advisable) is enough given today’s medical inflation. Also, watch for co-pay clauses, where your parents have to bear a percentage of the bill. Many senior citizen policies have 20-30% co-pay, which can reduce payouts.

Waiting periods and exclusions can surprise you

Most policies won’t cover pre-existing diseases right away. Waiting periods can be 2–4 years. If your parents already have diabetes, heart issues, or hypertension, make sure the policy doesn’t permanently exclude them. Look carefully at disease-specific caps — for example, some insurers will only pay up to ₹1 lakh for cataract surgery even if your cover is ₹10 lakh.

Network hospitals and cashless treatment

A fancy cover doesn’t help if the nearest hospital isn’t on the insurer’s cashless list. Always check the hospital network in your city before signing up. Cashless claim settlement is much less stressful than reimbursement later.

Don’t ignore add-ons and service

Add-ons like domiciliary care (treatment at home) or ambulance charges may seem minor, but they matter. Also, consider the insurer’s claim settlement ratio and customer reviews. A policy that looks good on paper but makes you chase documents endlessly during an emergency is not worth it.

FAQs

1. Should I buy separate policies for each parent or a family floater?

For seniors, individual policies usually work better. A floater can get exhausted quickly if both parents fall ill in the same year.

2. Is it okay to buy top-up health insurance for parents instead of a regular plan?

Top-up plans are cheaper but only kick in after a certain threshold (like ₹5 lakh). They work best if your parents already have some base cover.

3. Can parents with pre-existing illnesses still get health insurance?

Yes, but the premium will be higher, and waiting periods apply. Some insurers have special senior citizen plans that cover common conditions after a fixed waiting period.