You tend to look for a gift that is unique, special, and that can convey your feelings to them. Searching for such a token of your love and appreciation can be a challenge.
Consider this for a gift - An insurance plan that supports your parents and offers peace of mind by safeguarding them against expenses over medical exigencies.
Here are some FAQs about parents' health insurance plans:
- My parents have sufficient funds for meeting medical emergencies. Why do they need a health insurance?
Earmarking funds for meeting medical contingencies is not always a foolproof idea as these funds might be inadequate to cover spiraling medical costs. A health insurance plan is actually a necessity, for it offers:
- Cashless hospitalization
- Reimbursement of medical expenses
- Regular health checkups for Senior Citizens
- Reduced financial burden on earning members
- Mental peace in retired life
- My parents are already covered under the policy given by my employer. Do they still need more cover?
The insurance cover that your office provides might be subjected to change, might not be adequate or worse - might be temporarily unavailable while you change your job. Hence, it is advisable to opt for an independent health insurance plan for your parents.
- I already have a health insurance family floater plan. Can I simply add my parents to the plan?
A family floater is an umbrella plan with a common sum assured for all family members – spouse, children, and parents. It would be easy to add your parents to the existing family floater plan. However, in case one member of the family is hospitalized and uses up considerable coverage, the other members might be left with little or no cover. Floaters are hence more apt for families with children and middle-aged elders as the probability of seniors falling ill is higher.
- How do I select the appropriate health insurance plan for my parents?
With numerous schemes available in the market today, choosing a plan can be time consuming. Do this. Keep your requirements in sight and run your list of shortlisted schemes through the following checks to narrow down your search: 
- Policy Exclusions :Acquaint yourself with the section of 'exclusions' in the policy document to comprehend the extent of coverage. Check if your parents' pre-existing ailments are covered under the plan. Taking cognizance of other exclusions, sub-limits, as well as the waiting period will aid you in making an informed choice.
- Reimbursement of medical expenses : Hospitals in the neighborhood as well as in other geographical areas to where your parents might travel should be covered. Check whether such hospitals offer cashless facilities of treatment.
- My parents travel abroad very often. Do they need health insurance cover?
As your parents travel overseas, they need to be prepared for unforeseen circumstances that could lead to hospitalization abroad. You may choose to opt for comprehensive travel insurance plans to cover expenses arising because of health and travel, both.
A sufficient medical cover is the mainstay of a healthy financial portfolio. Moreover, what better gift than a plan that secures the health of your parents?