I’m working for a multinational firm in Ireland. My ageing mother and father, who’re at present residing in India, are coated beneath my firm’s coverage. However, the premiums for senior citizen polices are considerably larger. Are there some other insurance policies particular to senior residents that may add an additional layer of safety for them?
—Sammit
It is commendable that you’re searching in your getting older mother and father again dwelling in India since it may get fairly worrisome to take care of them residing in a foreign country. As your mother and father are already coated by your organization’s group medical coverage, they’ve a medical cowl in place in case of any fast exigency. I might advise you to, nonetheless, be apprised of the sum insured and protection supplied on this coverage, particularly in the event that they cowl your father or mother’s medical wants. As your mother and father will proceed to age, their medical necessities will change which have to be coated by your insurance coverage coverage as properly in order that they get entry to the most effective medical care.
The very first thing I might advocate is a top-up coverage in your mother and father, which might complement the group cowl you have got for them and may act as a buffer in case of any severe ailment. Having a separate particular person cowl for them, nonetheless, is one thing which it’s essential to look to do as properly. Some insurers have launched insurance policies available in the market designed completely for senior residents to offer protection for his or her age-related medical situations. Senior citizen medical insurance plans sometimes cowl pre-existing ailments, hospitalization bills, together with advantages of lesser ready durations, preventive well being check-ups, nil sub-limits, and so on. for pre-existing ailments, and a few even cowl domiciliary or at dwelling care bills.
It is pure to nonetheless be nervous about one’s mother and father, particularly about how they go about their day-to-day actions with out a lot help. Recently, some insurers have launched riders to cater to end-to-end necessities for senior residents together with normal medical insurance protection. These riders embrace providers like emergency or deliberate ambulance providers, physiotherapy providers at dwelling, nursing care at dwelling, fall detection providers, and limitless medical tele-consultation providers.
A fall detection gadget is used to inform the service supplier in case of a fall, who would then ship emergency help providers to assist the insured.
Insurers have additionally gone a step forward by offering providers like reserving for electricians, plumbers, carpenter providers, journey bookings, and blocking debit/bank cards amongst different value-added providers, particularly tailor-made for the wants of senior residents.
Tapan Singhel is MD & CEO, Bajaj Allianz General Insurance.
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