AKG Money

Parents' health cover

Medical bills grow faster than almost anything else. Check whether your parents' health cover would pay for a major hospital stay, today and ten years from now.

These are example numbers. Change any of them to see your own answer.

Their cover today

For both parents together, if it's a family floater.

₹

= ₹5 L

₹
A big hospital bill

Heart surgery, a joint replacement or cancer care in a good city hospital often costs ₹4–10 lakh today.

₹

= ₹6 L

years
Not enough

A ₹6 L hospital stay today will cost about ₹18.64 L in 10 years. ₹5 L of cover pays 27% of that. It already falls short today.

Extra cover to plan for
₹13.64 L
A super top-up with a ₹5 L deductible covers bills above the base policy, usually for a fraction of its premium.
Premiums over 10 years
₹6.37 L
Reaching about ₹1,03,750 a year

Under the old tax regime, premiums for senior-citizen parents are deductible up to ₹50,000 a year (section 80D). Check waiting periods for existing illnesses before switching policies.

Parents' coverNot enough

How this is worked out

  1. A major hospital stay costing the amount you enter today grows each year by medical inflation.
  2. The share covered is the sum insured divided by that future bill.
  3. Extra cover is the gap between the future bill and the sum insured, the size of a super top-up to consider.
  4. Premiums are added up over the years, rising by the rate you set as your parents get older.

Questions people ask

What is a super top-up?

A policy that pays hospital bills above a deductible, for example everything above ₹5 lakh in a year. With the base policy covering the first ₹5 lakh, it adds large cover cheaply.

My parents are over 60. Can they still get insurance?

Yes, many insurers offer senior-citizen plans, but with higher premiums, co-payments and waiting periods for existing illnesses. The earlier you buy, the sooner those waiting periods end.

Is a family floater enough for parents too?

Usually better to keep parents on a separate policy: their claims would use up the shared cover and raise everyone's premium.

What does medical inflation mean in practice?

At 12% a year, costs double roughly every six years. A ₹6 lakh surgery today is about ₹18.6 lakh in ten years.

Is my data saved anywhere?

No. Everything is worked out in your browser. Your numbers stay on your own device, and the page link holds them so you can share them.

Related calculators