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Does Beshak help in getting insurance cover for parents (Senior Citizens)?

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20 Sep, 2021 by  Ram Gaggar

My mother's heart valve replacement was done in July 2002. In addition to that she has sugar. Currently we have taken insurance from PSU insurance company and want to increase her cover from about 4L base cover (plus accumulated bonus which is of no use as room rent is linked to base sum assured) but we were unable to increase base cover as well as other insurance company (tried with 1-2) is not giving cover. Can you help us? What will be premium (she is 65)?

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20 Sep, 2021
Kaushik Amrit Raj

Hi Ram,


Good to hear that you have taken Health cover for your mother..


In health insurance companies are often reluctant to give insurance policy for people above 60 years as the risk is outside their underwriting capacity often termed as declined risk means they are not willing to take such risk because they feel the claims can be very high and will increase their loss in simple language.


The cover is also sometimes not increased because of risk factor associated with the customer. Also, if you are not able to increase the Sum Insured then I will say you should look for Top-up plans which provides you with additional amount of money if you exhaust your existing base plan ( which is here INR 4 Lakhs ) which you are having it.


The Top-up plans work only when you have already a base plan in effect and in case during any treatment you use your limit for INR 4 lakhs then the Top-up plan comes into play and pays for your hospital bills.


Also, according to me changing insurance company if you are planning at this stage where your mother is 65 is not a good idea as there will be again companies denies coverage or maybe they won't be covering certain diseases and you might not be able to get a desired coverage for your mother. Also, there is option for Portability in Health Insurance but I will suggest you to stick with current insurer for your mother.


Look for a good super top-up plan that all I will say for you.....


The premium will be decided based on the risk factor and all health declaration made while buying any top-up plan


Do read T&C of companies before buying the policy.


That's all from my side....


Regards,

Kaushik





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