Are your parents well-protected against financial adversity? Are they financially equipped to pay in case of any emergency? Searching for the best policy for your parents’ life insurance through various companies is not a very easy task but it is quite necessary! So read on and find out how you can find the best life insurance option for your parents.
Your parents might not be as well-prepared for retirement as you think. In these days of expensive healthcare and rising expenses, insurance is very important. Firstly, life insurance will help them get the timely medical care that they need to stay healthy. Secondly, it will take care of their emergency expenses even if they are no longer earning.
Health insurance for your parents – confused over choices?
For NRIs who have left India in search of brighter prospects, calling up their parents and sending them money seems to be the best arrangement. But parents’ health insurance is important too. Companies like ICICI Lombard and Bajaj Allianz provide a whole host of benefits that makes parents’ health insurance an ideal gift for your aging parents. For instance, the Rishtey Parents Life Insurance offered by ICICI covers free health check-ups, a 2-year cover for your dependents against a single premium with automatic renewal after the first year, interest-free equated monthly installments (EMI) for your premium, and the great news is that you can renew the policy up to 75 years.
You could even consider the Bajaj Allianz Silver Health policy wherein people up to 70 years can be insured. Medical check-up is compulsory but charges would be reimbursed if accepted. This policy also covers pre-existing diseases, from the second year onwards up to 50% of the sum insured.
Life insurance for parents is a phenomenon that is becoming increasingly popular with NRIs as they are realizing the importance and benefits of insuring their parents’ health and overall well-being. They offer valuable peace of mind not just to the policy holders but also to children who feel helpless when they are away from their parents. We ensure that our homes, cars, and even pets are insured. Doesn’t it make sense to ensure the most important people in our lives – our parents?
Which life insurance option is the best for your parents? How did you choose the best option for your parents back home?
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