Cover parents under group health insurance::- Insurance is a very important financial product in today’s time. You should take insurance cover in time. But it is often seen that people pay less attention to it. Most people start worrying about their health insurance after they retire from their jobs, especially at the age of 60.
Cover parents under group health insurance
This is because they are no longer covered by their company’s group health insurance policy. Generally, health insurance policies do not have entry at the age of 60 or 65 years. So while opting for an insurance policy after this age, there are many people who do not get any cover.
Many insurance companies today offer health policies
Many insurance companies today offer health policies specially designed for senior citizens. An older senior citizen (between 65-74 or up to the age of 85 in some policies) can also enter these policies.
Therefore, experts say that people should include their senior citizen parents under the group health policy received by the company. There are 5 great reasons to do this.
Avoid Expensive Premiums
Avoid Expensive Premiums As we mentioned, some policies can be filed by an older senior citizen. But unlike normal health insurance policies, these policies are not cheap. Insurers charge higher premiums for these policies as the chances of people getting the disease increase at this age. Hence, experts recommend that you provide coverage to your parents under a group insurance policy from the company.
Medical examination is not required You do not require any medical examination for the insurance plans offered by the company. The entire family is insured from day one without the hassle of documentation.
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Low premium premium paid in group health policies
Low premium premium paid in group health policies is less than the premium paid for individual health policies. This leaves room for more investment and savings.
Group health plan
No waiting period This is considered to be one of the most important benefits. There is no waiting period for coverage of any disease. Your parents are covered from day one. For example, the minimum waiting period for cataract treatment in a standard policy is 1 or 2 years. However, under a group health plan, it is covered from day one. Same is the case with pre-existing diseases, which are covered from day one.
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Base group health policy
Adding top-up or super top-up employers offers the option of higher sum assured under the base group health policy. At the same time, many employers offer group top-up or super top-up policies. Experts say that if the company does not provide such an option, then you can add a cover for your parents under retail super top-up policies.