Cholamandalam MS Health Insurance Plans for Parents

Parents are our biggest support systems and our lifeguards throughout our journeys, helping us navigate all the highs and lows until they equip us to be self-sufficient. These were precisely the thoughts going on in Raghav’s (name changed) mind as he was mourning his parents on the second anniversary of their unfortunate demise. Raghav was a bachelor and was completely left alone after his parents passed away. He could not help a feeling of guilt that overcame him steadily. If only he would have been alert about their existing health insurance policy running out at the time of their retirement. If only he would have checked that his office health insurance package was not sufficient for the healthcare needs of seniors. There were a thousand such ifs that went on in Raghav’s mind. What he lacked clearly, was a dedicated health insurance plan for his parents. 

Do you wish to avoid such a situation from taking place in your life? You should then look at a dedicated health insurance plan for your parents. You can consider the Chola MS health insurance plan in this regard. The Chola MS health insurance for parents is a nifty option for taking care of their healthcare expenditure without any financial burden and also avoiding any compromises on the quality of healthcare treatments for more complex medical conditions.

Main Highlights of Chola MS Health Insurance Plan

• A dedicated and in-house team for settling claims, which speeds up the process for customers and adds to their convenience. 
• A Chola MS health insurance claim ratio of 56.25%. The claim settlement ratio measures the percentage of claims settled in a financial year against the total number of claims received. 
• Coverage for COVID-19 related treatments and medical costs. 
• 1,03,232 policies sold in the country by the company till date. 
• More than 8,000 network or partner hospitals throughout India. 
• Renewability features for a lifetime which is another big benefit for all policyholders. 

An Overview

The Cholamandalam MS policy is for those situations where parents start depending on their children for everything under the sun, including medical care and support. Children should realize that specialized solutions are indispensable for taking care of the health of their parents and also the financial costs of treatments at an advanced stage/age of life. 

Chola Healthline Insurance has four types of variants, including Freedom, Value, Privilege, and Enrich. The policy allows customers to cover both their parents-in-law and parents under the family floater category. This is one of the best possible options available for families today. 

Features of Chola MS Parents Health Insurance Policy

There are numerous features and benefits of MS Chola health insurance for parents including the following: 

• Guaranteed lifelong renewability feature for policy holders. 
• Policy tenures of 1, 2 and 3 years depending on the customer’s requirements. 
• Family floater and individual policies available. 
• Health check-ups and cumulative bonuses are given as renewal benefits to customers. 
• High sum insured going up to Rs. 25 lakh and beginning from Rs. 1 lakh onwards. 
• Discounts available, depending on the location, i.e. 10% off on premium amounts for insured customers hailing from Tier-2 Indian cities. 
• Long policy tenure discounts of 6% upon choosing the two-year policy and 12% upon choosing the three-year policy. 
• Coverage for 141 daycare treatments and listed medical procedures. 
• Coverage for AYUSH treatment costs. 
• Coverage for inpatient hospitalization costs. 
• Coverage for post and pre-hospitalization expenditure. 
• Coverage for emergency ambulance costs for each hospitalization. 
• Coverage via extended hospitalization allowance (at least ten days) at Rs. 10,000. 
• Double of the sum insured in case of any accidents and crucial illness diagnoses (only applies for the Privilege and Enrich plans). 
• Coverage for domiciliary hospitalization costs of the insured policyholder upto seven days in each year of the policy. 

The minimum age of entry is 90 days while the maximum entry age is 65 years. There is a 30-day initial waiting period for availing coverage for all ailments along with a 2-year waiting period/exclusion for specific diseases. 

Conclusion

The policy does not cover the costs of inoculation/vaccination and other non-medical costs at the time of hospitalization. It does not cover intentional self-injuries or suicide attempts as well. The health insurance policy is otherwise well equipped to cater to the needs of senior citizens and parents. The plan is named as the Healthline Policy and offers adequate financial support for a variety of treatments, helping children hold onto their savings while taking good care of their parents simultaneously.