Health Insurance for Sr Citizen parents

06 Mar, 2022 | by Anurag

Hello- I have an existing health insurance plan for my Sr Citizen parents from National Insurance. It is National Insurance Sr Citizen Mediclaim Policy. My Father is 76 Yrs & Mother 71 years old and have pre existing disease. I am the proposer.

Problem with the policy is that the premium has gone up considerably from last renewal. For an individual sum insured of Rs 3L+Rs 1.5L bonus for each parent, my renewal premium has gone up (due on 17th March 2022 ) to Rs 62440 from las year amount of Rs 54410.

Do I have other better options ? Do I have enough time for porting ?

Thanks

Anurag

Parents-Health-Insurance

2 Answer

Post

06 Mar, 2022

Avinash Sonee

3.8

Hi,

The premium rise is because both your parents' slab has increased a level up. And it is 'Plan A' variant which has a room rent limit of 1% of SI and other limitations. So, porting can be a good idea in terms of moving to better plans (although the premium may be more or less) but considering the age, it may be risky as well.

Whether to port or not will depend on many factors?

The current policy is how many years old now?
What are the Pre-existing diseases (PED) your parents' have?
Are all the PEDs there before taking this policy and are disclosed in this policy?
When is the renewal due date?

Based on your answers, if porting is not an option, then you may consider checking out the floater option in the same plan and same variant, although if you are okay with some additional premium, then I'd suggest to opt for the 'Plan B' variant because of double the room rent limit and lesser limitations compared to 'Plan A'.

Thank you,

Avinash Sonee

1 Comments

08 Mar, 2022

Anurag

Thanks for the response and explanation on parents slab. This definitely answers my question on premium hike. Now need help on if moving to floater in same plan variant or moving to Plan B is beneficial and needed in my case. We can connect tonight if you are available. I have tried answering questions that you raised.

The current policy is how many years old now?--Sr Citizen Policy is in place since last year. However I think that was a port from previous policy. There has ben no discontinuity in insurance of my parents for last 10 years. All from National Insurance
What are the Pre-existing diseases (PED) your parents' have? They have heart & BP..But like I said, policy from National Insurance is in place since many years. So probably not relevant ?
Are all the PEDs there before taking this policy and are disclosed in this policy? Same answer as above
When is the renewal due date? 17.03.2022

10 Mar, 2022

Vikram Aralikatty

4.3

Hi,

Premium will stop increasing from age 75,80 it changes from company to company.

I just checked for your parents if you pay ₹84k coverage will come to 20 lakhs Each.

Connect with me if you want to increase cover

I will suggest to PORT your parents health insurance they will get continuity benefit and parents get High coverage.

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