Buy Health Insurance Policy for Parents in 2025
An ageing population requires considerable expenditure on healthcare facilities, which subsequently poses a burden on the family’s breadwinner.
And, opting for health insurance for parents in India is the safest way to deal with the unwarranted expenses, as it extends comprehensive benefits that cover all medical illnesses arising from old age.
Health insurance is a necessity, especially if one has to cover the finances for the healthcare of their elderly parents.
What is Health Insurance for Parents?
Health insurance plans for Parents are made to provide our parents with complete coverage. It covers the cost of medical care and hospital stays brought on by age-related conditions.
Having health insurance for parents reduces the financial risk associated with expensive medical procedures, which could otherwise constitute a major financial burden.
Why You Should Buy Health Insurance for Parents?
Your parents have always been your safety net, and now it’s time to return their goodwill by gifting them a health insurance plan. Here are a few reasons why you should buy health insurance for parents.
Health issues are rather frequent, particularly as people age. Health problems like diabetes, high blood pressure, joint discomfort, cataracts, etc., affect a large number of senior individuals and thus medical insurance is necessary to cover the expense.
The price of medical procedures and treatments is rising daily. Due to escalating medical inflation, it is quite challenging to predict the future cost of medical treatments in advance. Therefore, obtaining parent health insurance coverage is the wisest choice.
A severe medical emergency might quickly deplete your parents' retirement savings if they don't have health insurance. Purchasing health insurance for parents in India will help prevent their lifelong savings from being depleted by medical expenses.
Section 80D of the Income Tax Act allows a tax exemption on the parent's health insurance premium. You and your parents under 60 can save up to Rs. 50,000 in tax benefits on health insurance premiums.
Medical care may be of lower quality if provided without a health insurance policy. Getting health insurance may be the best course of action to receive excellent care at the greatest hospital in the city.
It is reassuring to know that parents have full health coverage. Health insurance relieves the financial burden of medical expenses, allowing the family to concentrate on healing and health rather than financial concerns.
Eligibility Criteria for Opting Health Insurance for Parents
What’s Covered in Health Insurance Plan for Parents by Digit?
Coverages
Double Wallet Plan
Infinity Wallet Plan
Worldwide Treatment Plan
Important Features
All Hospitalization - due to Accident, Illness, Critical Illness or COVID
This covers for all hospitalization expenses including due to an Illness, Accident, Critical Illness or even pandemics like Covid 19. It can be used to cover for multiple hospitalizations, as long as the total expenses are up to your sum insured.
Initial Waiting Period
You need to wait for a defined period from the first day of your policy to get covered for treatment related to any non-accidental illness. This is the Initial Waiting period.
Wellness Program
Exclusive Wellness Benefits like Home Healthcare, Tele consultations, Yoga and Mindfullness and many more available on our App.
Sum Insured Back Up
We provide a back-up Sum Insured which is 100% of your Sum Insured amount. How does Sum Insured Back Up work? Suppose your policy Sum Insured is Rs. 5 lac. You make a claim of Rs.50,000. Digit automatically triggers the wallet benefit. So you now have 4.5lac + 5 lac Sum Insured available for the year. However, one single claim, cannot be more than the base Sum Insured as in the above case, 5 lac. .
Cumulative Bonus
Digit Special
Digit Special
No claims in the Policy year? You get a bonus -an additional amount in your total sum-insured for staying healthy & claim free!
Room Rent Capping
Different categories of rooms have different rents. Just like how hotel rooms have tarrifs. Digit plans give you the benefit of having no room rent cap, as long as it is below your Sum Insured..
Day Care Procedures
Health insurance covers medical expenses only for hospitalizations exceeding 24 hours. Day care procedures refer to medical treatments undertaken in a hospital, requiring less than 24 hours due to technological advancement such as cataract, dialysis etc.
Worldwide Coverage
Digit Special
Digit Special
Get a world class treatment with the Worldwide Coverage! If your doctor identifies an illness during your health examination in India and you wish to get a treatment abroad, then we’re there for you.You’re covered!
Health Check-up
We pay for your health check-up expenses upto the amount mentioned in your Plan. No restrictions on the kind of tests! Be it ECG or Thyroid Profile. Make sure you go through your policy schedule to check the claim limit.
Emergency Air Ambulance Expenses
There may be emergency life-threatening health conditions which may require immediate transportation to hospital. We absolutely understand this and reimburse for expenses incurred for your transportation to a hospital in airplane or helicopter.
Age/Zone Based Co-payment
Digit Special
Digit Special
Co-Payment means a cost sharing requirement under a Health Insurance Policy that provides that the Policyholder/Insured will bear a specified percentage of the admissible claims amount. It does not reduce the Sum Insured. This percentage depends on various factors like age, or sometimes also on your treatment city called zone based copayment. In our plans, there is no age based or zone based Co payment involved.
Road Ambulance Expenses
Get reimbursed for the expenses of road ambulance, in case you are hospitalized.
Pre/Post Hospitalization
This cover is for all expenses before and after hospitalization such as for diagnosis, tests and recovery.
Other Features
Pre-Existing Disease (PED) Waiting Period
The disease or condition that you are already suffering with and have disclosed to us before taking the policy and has been accepted by us has a waiting period as per plan opted and mentioned in your Policy Schedule.
Specific Illness Waiting Period
This is the amount of time you need to wait for, until you can make a claim for a specific illness. At Digit it is 2 years and starts from the day of policy activation. For the full list of exclusions, read Standard Exclusions (Excl02) of your policy wordings.
Inbuilt Personal Accident Cover
If You sustain an Accidental Bodily Injury during the Policy Period, which is the sole and direct cause of Your Death within twelve (12) months from the date of accident, then We will pay 100% of the Sum Insured as mentioned in Policy Schedule against this cover and as per plan opted.
Organ Donor Expenses
Digit Special
Digit Special
Your organ donor gets covered in your policy. We also take care of the pre and post hospitalization expenses of the donor. Organ donating is one of the kindest deeds ever and we thought to ourselves, why not be a part of it!
Domiciliary Hospitalization
Hospitals can go out of beds, or the patient’s condition may be rough to get admitted in a hospital. Don’t panic! We cover you for the medical expenses even if you get treatment at home.
Bariatric Surgery
Obesity may be the root cause of so many health issues. We absolutely understand this, and cover for Bariatric Surgery when it is medically necessary and advised by your doctor. However, we DONOT cover if hospitalization for this treatment is for cosmetic reasons.
Psychiatric Illness
If due to a trauma, a member has to be hospitalized for a psychiatric treatment, it will be covered under this benefit, upto INR 1,00,000. However, OPD consultations are not covered under this. The waiting period for Psychiatric Illness Cover is same as Specific Illness waiting period.
Consumables Cover
Before, during & after hospitalization, there are many other medical aids & expenditures such as walking aids, crepe bandages, belts, etc.,which need your pocket’s attention.This cover takes care of these expenses that are otherwise excluded from the policy.
What’s not covered?
In case of a pre-existing disease, unless the waiting period in health insurance is over, the claim for that disease or illness cannot be made.
Any condition you get hospitalized for, that doesn’t match with the doctor’s prescription is not covered.
Key Benefit of Health Insurance for Parents by Digit
Your health insurance plan with Digit extends several exclusive benefits that enhance your coverage. Here are the key advantages:
| Co-payment | No |
|---|---|
| Room Rent Capping | No |
| Cashless Hospitals | 9000+ Network Hospitals across India |
| Inbuilt Personal Accident Cover | Yes |
| Wellness Benefits | Available from 10+ Wellness Partners |
| City Based Discount | Up to 10% Discount |
| Worldwide Coverage | Yes* |
| Good Health Discount | Up to 5% Discount |
| Consumables Cover | Available as an Add-on |
*Available only on Worldwide Treatment Plan
Types of Health Insurance Plans for Parents
When it comes to health insurance, there are three types of coverage you can avail that can cover the treatment costs for your family, including parents. These are:
1. Individual Health Insurance
This type of insurance policy offers the cover only to the insured individuals. This plan can include your immediate family members like your parents.
Here, the insured individual can enjoy the benefit of a constant sum assured, instead of the floating sum, making it more advantageous if your insurance policy includes your parents.
Know more about Individual Health Insurance.
2. Family Floater Health Insurance
Unlike the individual health insurance plan, this plan covers each member of the family under an entire sum assured of the plan.
This means that under a Family Floater Health Insurance your parents can claim on a particular need and split the policy's total insured on a floater system.
Hang on! If your parents are over 60, you can also purchase a senior citizen health insurance plan for them. What does it entail?
3. Senior Citizen Health Insurance
A senior citizen health insurance policy is designed to suit all medical requirements of aged individuals, especially above 60 years of age, irrespective of the disease they exeperience.
Further, with benefits like Domiciliary hospitalisation, etc., this insurance policy is the perfect option to cover treatment costs for those over 60.
4. Critical Illness Insurance
A health insurance plan is probably not going to be sufficient to protect your parents if they have a critical illness, and thus, getting critical illness insurance/coverage is necessary.
The critical illness includes cancer, kidney failure, stroke, heart attack, etc. Given the high cost of medical care in India today, it is imperative to have critical illness insurance coverage that covers only these serious problems.
5. Top-Up Health Insurance
In addition to your parents' basic health insurance policy, a top-up health insurance plan offers them additional medical coverage. When their base insurance runs out, this policy is beneficial.
However, in order to activate the coverage that your insurer provides to your parents, you must pay a mandated deductible under this plan.
What’s Best for Your Parent’s Health: Dependent Coverage vs Individual Health Insurance Policy?
When it comes to securing your parent's health, deciding between adding them as dependents under your family floater plan or opting for a separate individual health insurance plan can be challenging.
However, each option has its own benefits. Understanding the differences between the two can help you make an informed decision for your parents.
How to Buy a Health Insurance Plan for Parents?
Opting for a health insurance policy helps you be financially secure in the event of a medical emergency. Most insurance providers offer such policies online, subject to verification and premium payments.
To apply for a parent’s health insurance policy that meets your requirements, select your insurance provider.
For instance, if you choose Digit as your insurance provider, you can follow the steps below to apply for a health insurance policy:
Step 1 - Visit our official website, enter your PIN code (for your city) and mobile number for verification
Step 2 - Choose the members for whom you need the insurance policy. In this case, you should select the options applicable to adding your parents
Step 3 - Next, enter details like your mother’s and father’s age
Step 4 - Choose the sum assured and other add-ons
Step 5 - Fill in the required personal details
Step 6 - Review all details, check the policy break-up, etc.
Step 7 - Pay the premium online
After completing these steps, your health insurance policy will soon be activated after all the details and documents, if any, are verified.
What are the Documents Required to Buy Medical Insurance for Parents?
The documentation that the majority of insurers selling mediclaim plans for parents often request is listed below:
- Age Proof: PAN Card, Voter ID Card, Aadhaar Card, Passport, Driving License, Birth Certificate
- Address Proof: Driving License, Ration Card, Utility Bills such as telephone bills, electricity bills, etc, Rental Agreement (if applicable)
- Identity Proof: Passport, Voter ID Card, Driving License, Aadhar Card, Medical Reports (in case asked by the insurance company), Passport Size Photo, Duly filled and signed proposal form
- Medical Reports: Diagnostic Tests, Doctor’s Report, etc.
Disclaimer: In addition to the above-listed documents, some additional documents may be requested based on individual circumstances, policy terms, and underwriting guidelines. Please consult with the insurance provider before buying.
Things to Look for While Buying Health Insurance for Parents in India
Ever thought about the greatest health insurance plan for parents? How can you pick the finest health plan that can provide the maximum benefit? What kind of coverage is appropriate?
To address all of your questions, here are a few things to look for while buying the best health insurance for parents in India.
1. Coverage
Look for a plan that provides the maximum coverage for your parents. It can include:
- Accidental & Illness Hospitalization Expenses - Look for insurance providers who offer coverage for accidents or illnesses are unforeseen circumstances and protect you in case of medical expenses resulting from an accident or an illness.
- Pre and Post-Hospitalisation Expenses - Along with the expenses incurred in due course of your treatment, look for a policy that covers pre and post-hospitalisation expenses.
- Annual Health Check-Up Expenses - Annual health check-ups for the elderly are a prerequisite to ensure ideal health conditions, as it reduces the chances of being diagnosed with a fatal disorder.
- Major Surgeries - Any major surgeries are associated with high-value expenses. Make sure such charges are covered through your health insurance policy for parents, ensuring no compromise is made when it comes to such treatment.
- Psychiatric Illness Treatment - Psychiatric treatment is slowly overcoming social stigmas and gaining popularity in the country so go for a policy which covers expenses if you are hospitalized for Psychiatric treatment.
- No Room Rent Capping - Room rent can be a cause for concern when it comes to seeking treatment from premium hospitals across the country. With no capping on room rents, you can easily afford a private room for your parents if they have to be hospitalised for a prolonged term.
2. Critical Illness Benefits
Severe heart problems, cancer, end-stage lung and liver failure, kidney-related problems, etc. qualify as critical illness cover. Treatment for such medical conditions starts from Rs. 1 Lakh on average and can go up to Rs. 10 Lakh or more.
Opting for a critical illnesses proves beneficial in such cases, as comprehensive coverage is extended with high sum insured guarantee. All hospitalisation expenses and post-release expenses are covered in such scenarios, along with surgical charges.
3. Affordability
Make sure that the premiums you pay towards the health insurance policy for your parents that you choose are affordable and do not pose a burden on your finances.
Compare the coverage, the sum insured, and the premium offered by different health insurance providers and make an informed decision.
Know more about Compare Health Insurance.
4. Cashless Treatment
Cashless treatment is one of the most important benefits provided under a health insurance policy.
With this benefit, insurance providers pay for your treatment charges directly to the network hospital where your parents are admitted. So, look for a policy with a maximum network of hospitals under it.
Read: Cashless Health Insurance Policy
5. Zero Co-payment Option
There are insurance policies which require you to pay a percentage of the treatment costs incurred, while the insurance provider covers the rest. Since the treatment expenses incurred towards your parents’ can be quite high, it is best to look for a policy without the co-payment clause.
6. Claim Settlement Ratio
Claim settlement ratio refers to the number of claims settled by your insurance provider against the total number of claims raised.
High claim settlement is one of the primary factors to keep an eye on to make sure that your claim is not rejected in case of an emergency.
7. Comprehensive Pre-Existing Illness Coverage
With most pre-existing illness coverage benefits offered by health insurance policies, you have to serve a waiting period before you can raise a claim. It is, therefore, pertinent to look for policies that have a minimal waiting period for their pre-existing illness coverage.
You should also look through the number of illnesses covered to make sure that your policy offers you maximum benefits.
8. Add-on Benefits
Apart from the features mentioned above, you should also look for add-on covers that can make your policy better-rounded. Some of them include:
- Zone Upgrade Add-on
- Daily hospital Cash add-on cover
9. Easy Claim Process
Usually, insurance providers offer two options when it comes to settling claims. These are:
- Settlement for cashless claims
- Reimbursement for claims raised
Regardless of your option, you must ensure that the process for settling claims is uncomplicated. With most insurance providers shifting their claim process online, it has become much easier than before to raise claims.
Also Read: Reimbursement Claim in Health Insurance
10. Review the Company’s Reputation
Finally, don’t forget to check the customer reviews and testimonials for your insurance provider on social media sites, through Google reviews, etc. to make sure that you avail the best services for your healthcare plan.
Add-on Option in Health Insurance for Parents with Digit
Add flexibility to your health insurance with add-ons. Digit offers the below exclusive add-ons to provide you with additional layers of protection beyond the basic coverage of your policy.
Pay just 10% extra premium and we will cover your non-medical expenses too on approval of your base claim.
You can reduce your pre-existing disease waiting period to up to 2 years.
This add-on cover will offer you a 10% discount on your premium, if you choose to be treated at our network hospital. However, co-payment will be applicable if you get hospitalized in non-network hospital.
Tax Benefit on Health Insurance for Parents Under Section 80D of Income Tax
Premiums paid to purchase mediclaim coverage for your parents may be tax deductible up to ₹25,000 within a policy year, as per Section 80D of the Income Tax Act. The tax savings amount rises to ₹50,000 every policy year if your parents are 60 years of age or older.
For example, Mr. Ramesh (26 years old) pays a premium of ₹30,000 annually under health insurance for himself. In addition, he also pays a premium of ₹35,000 annually for his parents (aged below 60 years). In such a case, what will be his tax deductible?
Hence, Mr. Ramesh can claim a total tax deduction under section 80D in a year of only ₹50,000 after paying a premium for himself and his parents.
With rising medical costs and retail inflation in the country, opting for a health insurance plan for your parents is crucial. You can secure their health effectively through extensive treatment courses and multiple other add-on benefits against stipulated premium charges.
FAQs about Health Insurance for Parents
Can I include my senior citizen parents in a family floater insurance plan?
No, senior citizens have separate plans; they can't be included in a family floater plan. This is because senior citizens need better coverage for their health.
Why is it better to opt for a healthcare cover early on for my parents?
Many insurance providers have mandatory co-payment clauses when it comes to insurance policies for individuals of higher age groups. That is why it is best to opt for healthcare policies as early as possible for your parents.
How can I enhance my parents’ coverage under a health insurance policy?
You can look for top-up covers that allow you to enhance your parents’ coverage, instead of opting for independent covers.
Is purchasing health insurance for parents worthwhile?
Yes! It's wise to purchase health insurance for your parents because it will pay for all of their medical bills without depleting their finances. It also offers your parents full medical coverage, including critical sickness coverage, inpatient hospitalization, contemporary treatments, day care operations, etc.
My parents have pre-existing disease. Can I purchase health insurance?
Yes, even if your parents have a pre-existing medical condition, you can still purchase health insurance for them. When purchasing insurance, be sure to tell the insurer about any pre-existing conditions they may have. Additionally, you must decide whether to purchase a medical insurance plan with day 1 coverage or a reduced waiting time for pre-existing diseases.
Is there an age limit at which parents can purchase health insurance?
Yes, there is an age requirement for all parent health insurance policies, which may vary from one plan to another. Generally, health insurance plans for parents can be purchased below 60 years. Therefore, before selecting a health plan for your parents, you must read the eligibility criteria for the age limit.
Do parents need to undergo a medical exam in order to purchase health insurance?
Yes, before opting for health insurance, your parents have to undergo pre-medical screening and diagnosis as demanded by your policy company.
Can I include my parents in my current health insurance policy?
Yes, you can include your parents in your current health insurance policy if it is a family floater policy. However, since your parents are more likely to experience age-related health issues, adding them to your coverage could result in a significant increase in your rates. Therefore, to keep your rates reasonable, you are advised to purchase individual coverage for your parents.
What distinguishes a senior citizen health insurance from that of parents' health insurance?
Both parents' health insurance and senior citizen health insurance are different. Senior citizens coverage covers parents over 60+, while a parent's health policy covers parents under 60. Therefore, one kind of health insurance plan for parents is health insurance for older citizens.
Can I get coverage for my parents' pre-existing conditions immediately?
Generally the pre-existing disease lasts long for 1 to 3 years that varies from policy to policy. But, this waiting period can be modified depending on your requirement but it will require a higher premium.
Do parents who have health insurance receive tax benefits?
Yes, you and your parents can gain from health insurance in terms of taxes. You can deduct the premiums you paid for your parent's health insurance coverage under Section 80D of the Income Tax Act up to Rs. 25,000.
Why is it preferable for my parents to have an early healthcare plan?
It is well known that as an insured person's age increases, so do their health insurance premiums. Therefore, choosing a healthcare plan for your parents early on is preferable. It will control the premiums.
How Can I Purchase My Parents' Health Insurance Online?
The process of purchasing parents' health insurance online is easy. You can directly visit Digit Insurance's official website and pick the parent's insurance policy with add-ons and coverage. By paying online you can easily by Digit’s health insurance for parents.