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Can you get medical insurance for your parents?

Updated: 8/18/2019
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Wiki User

12y ago

Best Answer

Off course you can get your parents the medical insurance, many companies in the market provide medical insurance, for your entire family. But just look through the following points before purchasing it:

- Coverage

- Cashless facility available or not

- Which hospitals are covered?

- Benefits

- Enrollment criteria

- Premium amount

- Claim facility, etc

That having been said, a basic requirement of all insurance is the existence of an "insurable interest". This means that the buyer of the insurance has to have a "stake" in the continued existence, or in this case, well-being, of the insured. Therefore, it would certainly ease the process of you getting the insurance for your parents if they provided support or you were otherwise reliant upon them. In that case, you could stand to "lose" if they got sick.

Finally, you are free to pay the premiums of your parents irrespective of the insurable interest requirement.

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