Being a Non-Resident Indian or NRI comes with its own set of challenges, and taking care of your parents’ health when living abroad can be one of them. As your parents grow older, their medical needs may increase, and being away from them can make it difficult to ensure their well-being. This is where health insurance for NRI parents in India comes into play. It is a crucial step towards ensuring the health and financial security of your loved ones back home.
Can NRIs Buy Health Insurance for their Parents Residing in India?
NRIs can obtain health insurance coverage for their family members residing in India, including their parents. Depending on their specific requirements, NRIs can choose from various options such as senior citizen health policies, family floater plans, and critical illness coverage. Additionally, NRIs can opt for a healthcare policy that covers both themselves and their parents in the event of medical expenses in India.
Health insurance providers typically confine their coverage to medical expenses incurred within India unless the policy specifies overseas coverage. However, travel insurance may cover medical expenses incurred overseas, but only in cases where the policyholder falls ill while on a trip. It is crucial to note that there is an exhaustive list of exclusions in travel insurance policies in terms of medical treatments.
Therefore, if an NRI residing in the United Kingdom requires medical treatment in that country, health insurance purchased from an Indian insurer will not cover the incurred expenses.
Benefits of Buying a Health Policy for NRI Parents in India
• Financial security:
Healthcare expenses can quickly add up, especially for critical illnesses or hospitalisation. With a healthcare policy, your parents can receive quality treatment without worrying about the monetary burden. The insurance policy will cover expenses related to hospitalisation, surgery, medicines, and other medical procedures, thereby providing financial security.
• Cashless treatment:
Most health policies provide cashless treatment facilities in one of the network hospitals. That means your parents can receive medical care without any upfront payment. This benefit is especially crucial in emergencies when there may not be enough time to arrange cash or insurance reimbursements.
• Coverage for pre-existing conditions:
Older adults are more likely to have pre-existing medical conditions, making it challenging to find a suitable healthcare policy. However, many insurance providers offer policies that cover pre-existing ailments following the completion of a waiting period.