Mother's Day: Is it possible for me to purchase a health insurance policy for my mother, who is a single parent and does not currently have any insurance coverage?

My mother is a single mother and doesn't have any insurance due to financial constraints. Can I buy a health insurance policy for my mother to help her manage healthcare costs as she ages and ensure she has access to quality treatment without financial stress?

Advice by Manju Dhake, Senior Vice President, Insurance Advisory at 1 Finance

Yes, you can purchase a health insurance policy for your mother, with you as the proposer and your mother as the insured person. This is a prudent step, especially as healthcare costs continue to rise. Since your mother is 61 years old and has pre-existing conditions like diabetes and thyroid issues, here are some important considerations before you proceed:

1. Co-pay Provisions: Many insurers apply a co-pay clause (typically 20–30%) for first-time entrants above 60 years. This means a portion of the hospital bill will have to be borne out-of-pocket, so it’s important to read the policy wording carefully.

2. Premium Projections: Review how premiums are expected to escalate as your mother ages—especially up to 80–85 years. This helps in planning long-term affordability and managing your cash flows.

3. No Co-pay Options: Some insurers offer policies without mandatory co-pay, even for senior citizens. Compare such plans for better financial predictability during claim settlements.

4. Full Disclosure: Be transparent about all pre-existing medical conditions, medications, and treatments. Non-disclosure can lead to claim rejection. Always disclose all material facts at the time of proposal.

5. Hospital Network & Costs: Check the insurer’s network hospitals near your residence and review typical treatment costs for common ailments. This ensures that your mother can access quality treatment without logistical hassles or unexpected expenses.

Purchasing a well-researched health insurance policy today can safeguard your mother’s healthcare needs tomorrow—while also offering you peace of mind.