For many of the numerous NRIs in the United Kingdom, be it in London, Manchester or Glasgow, “life” is a continuous juggling act when it comes to building a career, running a household and trying to cope with the British rain. Worrying about how their parents are faring 4,500 miles away often dominates mindspace.
That familiar feeling of dread that is felt at 3 am when you get a surprise phone call; feeling helpless when you hear your father is not well and is refusing to go to the doctor because it “costs too much”.
You are not alone if you’re an NRI living in the UK and feel guilty and distressed by the difficulty of managing your parents’ issues from afar. The solution to your anxiety is more than just sending your parents money to assist them with their monthly expenses, it’s building a safety net. Increasingly, savvy NRIs are finding that a structured, financial solution is the solution: a comprehensive India health insurance plan for their parents.
The Cash Flow Crunch of Emergency Care
If you don't have health insurance, an unexpected trip to the hospital could leave a huge dent in your savings. You will end up having to send money through a bank with the worst case to cover your hospital admission and fill/medication. This is why preplanning can make a big difference. If your family has health insurance in India, when a medical emergency occurs, the hospital will look for the insurance card that will be used to settle your bill instead of checking your bank account.
Why "India Health Insurance" is Non-Negotiable
A substantial transformation has occurred within our dime-sized nation within a single generation. Previously, Indian healthcare was predominantly about insuring against hospitalizations; today it would be more accurate to describe as "health and wellness".
When finding an appropriate policy for your parent's coverage, one of your major goals will be to provide a shield against the increasing expense of Medical Inflation.
Typical good health insurance plans for Senior Citizens in India have several attributes: They provide coverage for pre-existing illnesses after the waiting period has ended; they allow for cashless hospitalization in a large number of very well established hospitals throughout India (including many of the best hospitals located close to your parent's home); they provide coverage for children who are discharged in less than 24 hours; and finally cover a wide range of day-care type surgeries.
Navigating as an NRI: The "NRI Health Insurance" Angle
Most general NRI health insurance insurers in India allow NRIs to be the policy proposer (the one paying the premium) as long as the person being insured (the parent) is an Indian resident. This is the route most UK NRIs take.
Ensure the policy has a wide network in their specific city, not just the metros. Also, look for insurers that offer "cashless claim settlement" directly with hospitals to save your parents the hassle of running around for reimbursements.
Building a Bridge of Care
At the end of the day, money is nothing more than a means to provide us with time and peace of mind. Get your laptop out, call your parents on a video call and start looking at the best Indian health insurance options to find the one that will best suit your family. You cannot be with your parents during this difficult time, but you can provide them with peace of mind by providing them with an excellent health insurance policy.
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