Why is Health insurance a must for your parents?

Health Insurance a must for your parents

Why is Health insurance a must for your parents?
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3 Replies to “Why is Health insurance a must for your parents?”

  1. The best way to secure your parents against the future health problems is buying a health insurance policy for them. Health insurance is an insurance that covers your medical expenditure. Life is not predictable and uncertain events can occur anywhere and anytime. In such times, if a person is secured with health insurance he will get the timely medical treatment and also doesn’t have to worry about the huge expense which is required for the treatment. It is always safe to secure your health, no matter of your age! To read more such reasons check Health Insurance- A must for your Parents

  2. Just to add on to the article recommended by Santa B. There are a few types of health insurance to consider:

    1) Accident plans which cover death, dismemberment and also medical reimbursement due to accidents.

    2) Hospitalisation plans which cover hospitalisation bills but this usually comes with deductibles and co-payment. There are also riders to help take care of the deductibles and co-payment.

    3) Critical illness plans which pays a lump sum when insured person is diagnosed with critical illness. The definition of critical illness differs from company to comany but usually includes cancer, stroke, lung disease, etc.

    If budget is a constraint, then hospitalisation plans should be priority as it take cares of the big ticket item like hospitalisation bills which can be huge. Then accident plans if budget allows. Critical illness plans should be the most expensive and try to at least get some coverage. Any amount, no matter how small it is, is a good start. However, you must still have some cash savings to cater for immediate/emergency expenses so don’t over commit yourself when you buy insurance. It is always good to have but pls prioritise and do some maths on your own before committing. Good luck!

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