How To Choose A Mediclaim Policy For Parents?


If you are planning to get a Mediclaim policy for your parents, the time has never been more perfect. Opting to get Mediclaim insurance will definitely benefit you a great deal in the long run. You need to explore and analyse the plans well before opting for the best parents health insurance policies. There are quite a lot of factors and attributes you need to look for in a Mediclaim insurance plan for parents. The following list will take you through various factors 

while buying a parent’s health insurance plan. Keep reading to know more!

1. Goodwill of the insurance company:

It is very important to choose an insurance company that provides prompt services while considering the parent’s Mediclaim policy. The policyholder may not be present on the spot to complete the claim process for his parents health insurance plan, and this is where the goodwill of the insurance company matters. To estimate the reliability and authenticity of the insurance provider, make sure to check their Claim settlement ratio, read reviews, analyse market score, etc. The higher the Claim settlement ratio, the higher the goodwill and reliability of the insurance company. 

2. Insurance policy coverage:

A parent’s health insurance plan must be holistic, as inadequate coverage leads to additional expenses. The Mediclaim policy should offer coverage for mental illness, pre-existing diseases, coverage for age-related conditions, and preventive healthcare benefits. If you are purchasing a policy for your parents, make sure that it covers all their basic and required needs in an effective manner possible. Be prudent to choose the Mediclaim policy likewise. 

3. Network hospital location:

The insurer can avail cashless facility from a network hospital. Thus, it is necessary to know the exact location of your insurer’s network hospital. Therefore, you receive the best treatment by opting for the Mediclaim policy for parents. Moreover, cashless claims allow you to experience a convenient and quick settlement process. 

4. Insurance policy cost:

Another important factor you need to keep in mind while opting for a Mediclaim plan for your parents is the cost of the insurance policy. The parent’s health insurance cost increases with age. Since their age is on the higher side, look for the Mediclaim policy that provides feature-rich health plans at a lower price. 

5. Exclusions:

Parents’ health insurance does not include all the medical expenses. Thus, you have to bear some medical costs. It becomes crucial to understand the exact exclusions of the Mediclaim policy. Always go through the medical document thoroughly. 

6. Additional coverage benefits:

You can customize parents’ health insurance plans with more coverage. Some examples of add-ons are critical illness insurance, room rent waiver, hospital cash cover, etc. 

7. Claim process:

The Best Mediclaim policy claim process should be hassle-free. You will spend more time on claims than concentrating on your parent’s health. Choose an insurance company with a digital and transparent claim process. 

8. Value-added services:

The parent’s health insurance value-added services have gained prominence in recent times. Benefits such as health monitoring services, free health checkups, and teleconsultations can help to keep your parents in good health. 

Things covered and not covered under the Mediclaim policy for parents:

Parents’ Mediclaim policy is a unique plan designed to cover their medical needs. It provides full coverage against medical conditions that arise due to advanced age and result in high medical costs.

Let’s look at the things covered and not covered under the Mediclaim policy:

  • Non-allopathic medicines and aesthetic, cosmetic, or related treatments are not covered.
  • AIDS and related disorders are not covered. 
  • Pre-existing diseases get covered in the second year of the policy. 
  • Any disease contracted during the first thirty days does not get covered. 
  • Expenses related to self-inflicted damages are not covered.
  • Cosmetic surgeries and injuries arising out of war are not covered. 
  • Joint-replacement surgeries and diseases like hernia, piles, and cataracts have a waiting period.

The claim process for parent’s health insurance plan:

Here are the steps to raise a claim under the parent’s health insurance plan:

For cashless claims:

  • Fill up the pre-authorization form for cashless approval at the network centre.
  • The insurance company sends the status update once the hospital intimates the company.
  • Hospitalization can be done based on pre-approval. 
  • The insurance company settles the claim directly with the hospital during the patient’s discharge. 

For reimbursement claims:

  • The policyholder needs to preserve the original invoices and pay the bill initially all by themselves. 
  • The policyholder will send all their invoices and treatment documents to the insurance company post-hospital discharge. 
  • The company verifies claim-related expenses and treatment documents. 
  • The insurance company then sends the approved claim amount to the bank account. 

Why choose a Mediclaim policy for parents?

Here are the benefits of choosing a Mediclaim policy:

  • Tax benefits
  • Hospitalization expenses
  • Pre and Post-hospitalization cost
  • Day-care procedures
  • AYUSH benefits
  • Major surgeries


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