Health Insurance for Parents -where to get comprehensive cover

health insurance for parents

Health Insurance for parents is equally important as it is to you. It carries more weightage due to the high probability of falling ill in that age. For finances sake, it is wise to transfer the risk of medical expenses to insurance company, due to the reasons like

  •          Increasing Medical expenses
  •          Low surplus left after saving for other important goals, thus not much for unforeseen medical expenses
  •          Increasing Life expectancy and deteriorating health

A person’s medical needs increase with age. With health related expenses increasing exponentially, any treatment could easily wipe out your parent’s savings kitty. Even if your parents are financially independent it is advisable to buy them a health insurance plan, which ensures that medical expenses should not impact their savings kitty much. It ensures that your parent’s health care is secured and they can enjoy their savings too. Don’t wait for any emergency as it may cost you huge

Though most of you are actually sensitized towards buying health insurance plans for parents but even then you find it difficult to buy any mediclaim with the reason of not finding a Suitable or BEST policy.

Many of corporate employees feel that they have added the name of their parents in the employer-provided coverage so there’s no need to buy a separate Health Insurance policy for Parents. But this is not wise to depend on the employer’s policy only. Reasons are same as for them not to depend on employer policy (Read: Ensure you are ensured).

This post is all about the various health insurance policies available in the market which you can buy for your parents. With coming up of standalone insurers, this health insurance segment is flooded with many innovative products. Which are quite similar with each other but some features may or may not suit your requirements.

Health insurance for Parents / Senior citizens – Some products.

If your parents have crossed 60 years of age then the options are bit limited with some restrictive features. However these days there are many heath insurance companies where there is no restrictio on the entry age, so anyone can buy anytime. Following companies has got special plans for Senior citizens

1.       Star Health Insurance – Star Senior citizen Red carpet plan.

2.       Bajaj Allianz General Insurance – SILVER Plan

3.       Apollo Munich Health Insurance –  Optima Senior

4.       National Insurance – Varishtha health Insurance.

5.       United India Insurance – Senior citizen plan

Health Insurance for parents  – Comparison 

(Updated on 14.03.2017)

health insurance for parents comparison

Check out detailed review of Bajaj Allianz Silver Policy here

As you can see that with the various options available for health Insurance policy for parents, you are bound to get confused. Below I have shared few pointers which will help you in selecting the suitable one.

1.       Always go with the policy with Maximum Renewal age. Though this is no longer applicable as all policies now days come with Lifetime renewal limit. 

2.       Work on your expenditure and buy the maximum possible coverage. Believe me; you just have to reduce your expenses by Rs 1500-2000 per month. (Read: How much health Insurance cover is enough)

3.       Check out for the First Year, Second year, special and permanent exclusions if any in the plan.

4.       If there’s any Pre-existing Illness, and you are more worried on that front then you should go with the plan with the least waiting period on Pre-existing illness, like select between Star/National/United.

5.       If Parents are fit and fine, with no pre-existing illness then select Policy with least compromises like as on room rent.This is because the total hospitalization expenses depends on the room rent only.(Read : Managing Hospitalisation cost)

6.       If Parents are diabetic then one should go with nationalised insurances like National/United, to get easy coverage. As they cover these cases with some extra premium/loading.

7. If the company doesn’t want to get the Pre-Insurance medical check up done, then make sure you read the declaration of medical condition form in detail before signing it.

Health insurance for Parents – Some other options

The options are limited in case your parents have crossed 60 years of age. But if you are acting proactively then it is wise to get them entry in this health insurance space before 60 years to take full benefit of health insurance plans that too without any co-payment, sub limits and with lifetime renewal.

There are plans with almost every health insurer now, like Religare health insurance, Apollo Munich Health insurance and Star health (Comprehensive).where if one takes entry before 60 years  i.e even at 59 years , he/she can enjoy  all the benefits even after crossing 60 years with continuos renewal.(Read : comparison and Review). Even though these plans doesn’t have any entry age restrictions but still it has co-payment clause if anyone takes entry after 61 years of age, so make sure you go through the policy wordings in detail.

You have other options from health insurance policies offered by nationalized banks to its account holders. There are some fantastic policies like as provided by Canara bank in tie-up with Apollo Munich health insurance; PNB Oriental Royal mediclaim policy and even the one offered by Bank of India with national Health Insurance.


If you are still waiting for a good a policy for health insurance for parents then this is the time to act. Your wait may cost you with some limits on the coverage. To get a comprehensive coverage get your parents Insured them right now. There are many health insurance plans which gives the continued, comprehensive coverage for lifetime if taken at appropriate stage and at right age.

Health insurance for parents is a wide topic and many times results into lot many confusion. New products keep coming which increases the confusion. So let me answer your queries in the comments section below. I believe more discussion may be of great help to you and me too with learning from your experiences.



  1. I’m looking for family health insurance .my dad age 55 ,mom age 47,I’m 23, my bro is 16 can u help which is best insurance to take.

  2. Don’t make mistake by searching for best…settle down for suitable. Understand the waiting period, sub limits, and other conditions of different policies and chose as per affordability. Your parents are well with in the acceptable range for all company’s policies, so you may also go for floater policy. You should lookt the features of Apollo Munich, Religare health insurance, Max Bupa .

  3. I am looking for Health Insurance Policy for my Parents. My Parents are 72 (father) and 67 (mother) years old. Finding a policy at this stage is challenging. Not only premiums are high, there are high rejection ratios, low claim settlement ratios, high premiums, Co pay and sub limits. Thankfully My Employer has covered my Parents in group Insurance, but I believe the Max age they cover is 80, also I dont want to entirely depend upon my Employer for Health Insurance. My Father has history of hypertension & prostate and mother has diabetics, but thankfully they are under control after taking medicines and never have to go to Hosp for that issue. At their age they are active and take health seriously. I have selected both National Insurance (Varishtha) and New India Health Insurance Sr Citizen Policy, because Max. Sum Insured are low ( I can claim both policies if Bill Amt is greater than SA. in ratio of SA) and Hospital bills are taking new highs. Please suggest me if it is a correct decision and what should I do now to insure health cover for my parents?

    • Mandeep, I understand your concerns. This is true that at this age it is challenging to get a policy. You have to compromise with the features that are available with sub limits or co pays and all. See acceptability on the part of nationalised health insurance company is very good. I have experienced them accepting riskiest of the cases and as you have written the health issues your parents are facing, so going with nationalised companies is a wise choice.
      But how much cover you are actually looking for? As it is cumbersome to claim from 2 insurers. from convenience perspective i advise you to deal with only one insurer.
      You may chk the policy available with United India and increase the cover with Super TOP up plan available with them only

  4. Hi,

    I’m planning to purchase religare individual insurance with 5 lack cover…she s aged 53 and in good health..
    Any inputs with the selection..Also My dad is aged 59 and had a bypas surgery 2 years before, any suggestion for him?
    Please advise

    • Somashekar, for your mother the options are open with all companies. Even Religare is fine.
      But for your dad you have to try with different insurers. Every company has its own underwriting guidelines, so its difficult to say which will accept this case.

      Generally nationalised companies are seen to accept many difficult cases with ease, and many of them has some good policies too. There are some banks which in tie up with insurers offers some policies where they generally accept pre existing cases, of course with waiting period, like the one offered by PNB in tie up with oriental. You may check those also. But be sure that these tie up policies stays only till the relationship between bank and insurer stays. Do understand the aftereffects if at all you want to go with such plan.

    • You cannot escape medical at this age and specially with private players.
      There are some nationalised insurers which offers policy in tie up with some banks to its customers where they don’t ask for medical check up. You may try with them. Check with PNB.

  5. What abt red carpet by star ins
    .. Ive read its good.. premium is affordable..suits r requirement fr no medical..plz advise.

    • You are right. Star Red carpet policy is also there. But you should go through its terms first. I feel that this policy tentatively covers 50-60% of medical expenses only due to the multiple restriction it puts on various surgeries and treatments.

  6. I have taken red carpet policy only. Thnks. Nw im confused for investments. Im a small time investor mainly in sip, rd, fd. Are ppf and share trading suitable for my profile ?

  7. Dear Mani,

    I am 28 yesars old and have 2 lacs medical insurance cover provided by my company. I would like to know whether is it required to take additional medical cover with critical illness or to go for critical illness cover directly? Further
    1) Is there any company that provides comprehensive health insurance that covers most of the critical illnesses offering sum insured for 10-15 lacs?
    2) Could u provide me the claim settlement ratios for Apollo, religare and Star?
    3) For only critical illness, which of these gives maximum coverage with cheap premiums for life long: Apollo, religare or Aviva?
    4) Among the apollo health insurance plans, which plan is cheaper and has wide coverage and suited for individual

    • Dear Arun

      First and foremost thing one should never be dependent on employer provided cover. One should always have adequate separate and individual health cover.
      All companies cover hospitalisation expenses due to critical illness. But if you want specific critical illness policy which makes a lumpsum payment after being diagnosed with illness and surviving for particular time frame, then that also is available with almost all health insurers even life insurers.
      – Chk out bajaj alliance, icici prulife crisis cover, and religare and apollo which offers 10-15 lakh of cover.
      – Health insurers doesn’t have readily available claim settelment data. You have to search it up with IRDA.
      – Health plans have different features which buyer has to understand first and buy the policy which is affordable with in the liked features. Check out the below link to figure out what needs to be checked in a health policy

  8. Hi ,

    When buying health insurance for parents who are senior citizens , is it advisable to go for a single plan or individual ?


    • As probabilty of health problems in such age is high, so better to buy your parents separate health insurance plan to provide them with adequate cover in case of both of them fall ill or met with some eventuality simultaneously.
      This applies to young families too. Atleast after 45 years of age if possible every family member should have a separate insurance cover

  9. Hello Sir,
    Plz share your view on max n aviva ‘s new term plan with returns on regular interval.premium is same as compared to all life companies..i have existing life cover which is not as per my hlv..its 60% of my hlv..plz advise..


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