I work for a bank and all the while have been hearing the same jargons, hedge your risk against contingencies, minimise your losses blah blah blah. But in reality I had not applied the same principles until it hit me hard.
Let me explain what I mean, with a job in hand and the company taking care of the health insurance, I rarely thought about insuring my family. Then I moved countries, changed jobs, contracts changed, situations changed. My dad fell ill back in 2007 and he had crossed 68. No insurance policy covered him for his age that time. With the expenses skyrocketing I had wished that I had taken out a health insurance for him. That’s when I kept thinking that my family doctor should have played the role of the risk manager and recommended us at every stage to insure ourselves.
Since Google is supposed to know all, I used the search engine again after 5 years to show all the Insurance policies available to elderly. Well, the results did not surprise me, I could hardly find products catering to a senior citizens. National Insurance have a scheme called “VARISTHA Mediclaim” for Senior Citizens, buying this product gets tougher as the age increases. Firstly, there aren’t many policies available for them. Secondly, the premium increases with age.
All those reading this piece, its worth investing in a health insurance policy, even if your company covers your parents now. You never know how situations change. That’s what Insurance is all about.
If you don’t have one, invest in one right away!!!
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Posted on behalf of Ansa