Parents Health Insurance

As our parents grow older, their medical needs change and it becomes important for them to be medically insured. You can buy a special health insurance plan dedicated to the needs of parents as they approach retirement age.

Medical insurance for parents covers pre-existing diseases as well as critical diseases. The premium amount is usually lower than the private health insurance plans for individuals. Furthermore, the premium paid is exempted from tax, up to a certain limit.

• 1. Pre-existing diseases are covered in the second year of the policy. In a few cases, it can be from the third or fourth year.
  2. Non-allopathic medicines, cosmetic, aesthetic or related treatments are not covered.
  3. Any disease contracted during the first 30 days of policy is not covered.
  4. AIDS and related disorders are excluded.
  5. Expenses related to self-inflicted injuries are excluded.
  6. Any expenses due to the addiction to drugs, alcohol or any mental or psychiatric illness are not covered.
  7. Few diseases such as hernia, piles, cataract, benign prostatic hypertrophy, etc. usually have a waiting period.
  8. Joint replacement surgery (other than due to accidents) also have a waiting period.
  9. Cosmetic surgery is not covered.
  10. Injuries arising due to war are not covered.

1. Pre-existing diseases are covered in the second year of the policy. In a few cases, it can be from the third or fourth year.
2. Non-allopathic medicines, cosmetic, aesthetic or related treatments are not covered.
3. Any disease contracted during the first 30 days of policy is not covered.
4. AIDS and related disorders are excluded.
5. Expenses related to self-inflicted injuries are excluded.
6. Any expenses due to the addiction to drugs, alcohol or any mental or psychiatric illness are not covered.
7. Few diseases such as hernia, piles, cataract, benign prostatic hypertrophy, etc. usually have a waiting period.
8. Joint replacement surgery (other than due to accidents) also have a waiting period.
9. Cosmetic surgery is not covered.
10. Injuries arising due to war are not covered.

1. Insured person should be above 60 years of age. In a few cases, the upper limit is 80 years.
2. Should have done a complete medical check-up before applying for the policy.

Conditions apply. This product is offered under the Group Insurance scheme wherein Bajaj Finance Limited is the Master policyholder. The insurance coverage is provided by our partner Insurance Company. Bajaj Finance Limited does not underwrite the risk. IRDAI Corporate Agency Registration Number CA0101. The above mentioned benefits and premium amount are subject to various factors such as age of insured, lifestyle habits, health, etc (if applicable). BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance and any claims post sale. This product provides insurance coverage. Purchase of this product is purely voluntary in nature. BFL does not compel any of its customers to mandatorily purchase any third party products.