If your parents think paying health insurance premiums is a waste of money!
An average Rs.5 lakh hospital bill for a senior citizen equals the premium for approx. 10 years. Even if there are 2 hospital visits over a decade, it is worth having health insurance. This is the point that can be put forth to persuade parents who are reluctant to buy health insurance because of the scarcity mindset. It is natural for them to have this approach because of their background probably filled with struggles and hardships that we have not experienced. Health insurance is the best gift children can give to their parents besides their time amidst a busy life. An adequate health cover can ensure that retirement savings are not drained and at the same time parents do not feel burdened about the children footing their hospital bills. Try giving your parents this simple perspective above and buy adequate cover for them.