What is the best way to take care of the medical expenses of my aged parents ?

Question

My parents are aged 63 & 58 . They are not covered by any insurance so far. Both of them are diabetic and take medicines daily.

What is the best way to deal with the medical expenses that may occur in the future ? Should i go for any insurance in their name at this stage?

Or is there a better way to handle this ?

Answer 1

Insurance is the best solution

TTK insurance , Bajaj alliance...

But it will cover mainly hospitalised expenses

Answer 2

Friend,

there are very less companies offering mediclaim insurance for ages people. If there is, that will be costly. Anyway your move is correct and you are a good and faithful son.

Contact the Star Insurance company in your place. They are only company in India fully to mediclaim insurance business and they have good policies for aged people with very cheap premium. There service also good because they are not using any third party for the claim purpose.

Best wishes.

Answer 3

yes take medical insurance immediately and this is really nice of you to think of your parents!! keep the good work up

Answer 4

If you are in America, contact a local independent health insurance agent.  Check on Medicaid.  You may have trouble finding affordable and worthwhile coverage, depending on   their overall health.

Answer 5

There are various schemes that are being offered for senior citizens to cover medical costs.

Schemes like MEDICLAIM or insurance provided by Private Companies should help in covering your expenses.

Answer 6

You can take any medical claim policy for them. But you have to do it real quick.

Gagan Agrawal

Senior Advisor

Tata-AIG Life Insurance Company

0 98274-85633

Answer 7

Insurance is one way , however your parents already reached to 60+ ,so we need to check with the insurance companies. ( insurance is not provided for few deseases , so you better check with some insurance agent )   so i would recommend you to save some money in the bank for emergency.  If you are working employee then  you should have a medical insurance for your dependants , if not check with Apollo hospitals , they will have few packages which you can buy to take care of your parents health .

All the best

VarunHyderabadi

Answer 8

Medical Insurance, Medical Clim,