Buying Health Insurance For Parents? 5 Things That Can Save You Big Money

Buying health insurance for parents is not simply about finding the policy with the lowest premium. For older people, the real test comes when a hospitalisation actually happens.A policy may look affordable on paper but still leave a family paying a large part of the medical bill because of co-payment clauses, waiting periods or coverage limits. This is why families need to look beyond the premium before buying health insurance for their parents.Ankita Srivastava, General Manager - Growth & Strategy at THIP Insure (The Healthy Indian Project), told NDTV that families should look at how the policy would respond during an actual medical emergency, rather than comparing policies only on price.According to her, here are five things to check before buying health insurance for parents.1. Is The Sum Insured Enough?The first question is how much coverage the policy actually provides.