How NRIs can look after their elderly family members in India with Health Insurance.

 Most Non-Resident Indians have families back in India, especially elder parents. Taking care of them from a different part of the world might seem challenging, but it’s a lot easier if you have a good health insurance plan in place. Non-Resident Indians can buy health insurance for their parents in India even when they live overseas and can even manage various payments in India no matter where they are in the world. It is always recommended to get health insurance for your parents, especially in sensitive times like these, it’s always good to be prepared with a solid insurance plan which offers state-of-the-art healthcare facilities so that you can rest assured. Good health insurance will also protect you and your parents from exorbitant charges in case of hospitalization.

However, it is important to choose the right insurance plan for your parents. You can go for an individual plan or could also opt for a family health plan and add your parents as dependents. A senior citizen health insurance policy would be most suitable if your parents are elderly. Choose a plan carefully after checking specific requirements like critical illness policy, personal accident insurance policy, and more.

There are many factors to consider while choosing a health insurance policy for your parents in India, here are some things to remember:

Look for a policy with comprehensive benefits

Always go for a policy that offers many benefits and good coverage. Look out for an insurance plan that includes in-built travel assistance, access to alternate remedies, international coverage, high-value sum assured, daycare treatments, cashless claims, and more. Check the benefits provided thoroughly and choose a policy that works in serving your parent’s needs the best.

Check for inclusions and exclusions

Always check the list of treatments that are covered in a policy before buying. Also, check for the medical procedures that are excluded from the treatment. If one of your parents has a health condition, it would be best to buy a critical illness policy that covers their health condition.

Check for waiting periods

Before buying any policy, check whether the waiting period ranges from 24-28 months.  

 

Looking for more ways to support your elderly parents back home in India?

 

Many NRIs support their families and parents back home in India with their income abroad. The best way to do this is by opening an NRE Savings Account in India. Through this account, you can transfer the money earned in your resident country to India in INR and support your parents and their financial needs. Apart from opening an NRE Savings Account, you can also look into investing in various financial schemes like Fixed Deposits, mutual funds, equity funds, and more to look out for their expenses. 

There are many options of old age homes also available for NRIs to choose for their parents which provide emotional support in your absence. Some homes take care of everything for your parents from daily chores to scheduling appointments with doctors and more. These old-age homes provide a great sense of comfort and security to the elderly and take care of everything from medical care, laundry to support services as well as nutritional needs. 

 

SBM Bank India provides a range of insurance policies so that you can take care of yourself and your family no matter where you are in the world. Whether it is your family that you want to protect, your assets, or both, SBM Bank India provides insurance solutions that fit just right. The bank also offers lucrative interest rates on NRE Savings Accounts and many other investment options that will help you provide your parents with a dignified and comfortable life, no matter where you are in the world.