New Delhi, October 8: Getting insured is as important as getting one’s parents insured. A recent survey, however, reveals that a very small percentage of senior citizens in India are covered under health insurance policies.
Aditya Birla Health Insurance’s Indian Parental Care survey has revealed that only 18 per cent of 998 senior citizens aged between 60 and 70 years have health insurance cover. The survey, further said that 66 per cent of senior citizens expect their offspring to support them financially during medical emergencies.
The health insurer recently published a survey conducted among 998 senior citizens falling between the age bracket of 60 and 70 year olds, along with 1,002 offspring in the 30-45 age group in 10 cities.
In fact 17 per cent of the respondents, when asked if their parents are insured, said they weren’t sure, while 15 per cent said their parents can't afford to buy insurance and they buy it for them, and another 29 per cent said that they are covered by company/government provided insurance.
Before purchasing a health cover for your parents, it is very important to have an elaborate discussion with them to know about their existing medical conditions. While some parents may have already bought a health insurance plan, it is important to know that if that is sufficient.
When asked about financial plans for medical emergencies for parents, 47 per cent respondents said they have, 24 per cent said they haven’t made any provisions, 17 per cent said they do not feel the need as their parents are financially stable, and 12 per cent maintained that they have taken care of by purchasing insurance themselves.
The survey has further revealed that 42 per cent of senior citizens feel insecure about his/her financial matters, while 37 per cent said that they are financially secured.