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Parents insurance query
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05 Mar, 2022
by Suvneet
Have a senior citizen parents policy - Royal Sun from last 20+years. premium now 40k for each with a cover of 2+1 lacs. Is is worth paying so much premium this year. bTW - have them covered under corporate family floater of 6 lacs . View appreciated?
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Hi Suvneet,
I appreciate you for having a Health Insurance plan for your parents according to age the premium increases but for 2+1 lakh Sum Assured paying 40k is not worth paying.
Coverage is very less I would suggest to enhance the total sum assured to 20 lakhs or 25 lakhs premium comes to 65k ( Considered 70yrs as age )
Corporate family floater is a temporary solution because of following reasons:
1. Change of job or leaving of Job
2. Same plan might not be continued by the corporate
3. Limited coverage
4. Limited Benefits
I hope I had answered your query.