From Health Insurance to Spending Time Together – A Few Thoughtful Gifts for Your Parents

Posted on: Oct 1, 2021 | | Written by:

From Health Insurance to Spending Time Together – A Few Thoughtful Gifts for Your Parents

Published on October 01, 2021. EST READ TIME: 3 minutes

Thoughtful Gifts for Your Parents Health - Health insurance

Choosing the right gifts for parents, the two people who have done the world for you, can be tough, especially if you are looking for something meaningful and useful. In fact, they might already have everything they need for a comfortable lifestyle. So, the best you can do is to give them something that will keep them financially secure during their golden years, since your parents might not have a steady income after retirement. This International Day for the Older Person,on 1st October,get your parents health insurance ora good retirement plan.This will help them live an independent and dignified life for years to come.

Here is a closer look at the three thoughtful gifts for your parents:

1. Investment for a comfortable retirement:

This is an important part of financial planning, especially for those who have had a steady income for years. If your parents haven’t planned their retirement already, you can gift them an investment plan that will keep them financially secure in later years. Considering that your parents took care of all your needs for many years, it is your duty to safeguard their future with the right investment plan. For instance, you can gift them an investment plan that will offer a regular monthly income and take care of their day-to-day expenses.

2. Take a health insurance plan:

A health plan is probably one of the best gifts you can give to your aging parents.Considering that health issues crop up every now and then as people age, taking a parents’ health insurance policy will be a good idea. In case of a medical emergency, your parents can opt for the best treatment without worrying about the hospital bills. Now when the prevalence of lifestyle diseases and contagious infections are on the rise, having an adequate health plan is important.

There are many good policies available in the market, so you can check and compare a few to choose the right one. Many insurance companies offer a range of benefits to policyholders. Apart from hospitalisation expenses, they cover home healthcare, AYUSH benefits, recovery benefits, day-care treatments and mental healthcare as well. A good health plan will also offer free renewal health check-ups, lifelong renewability and other benefits and keep your parents covered throughout.

3. Spend more time with them:

Retirement brings about many changes in one’s life and your parents may find it difficult to deal with them initially. Hence, besides taking care of their needs and securing their future with the right insurance and investment plans, you must spend more time with them. This is one of the best ways to show you care. You can talk to them about your day,go through picture albums together to revisit old memories or play card games. If your parents like to go out, you can take them to the movies and for shopping as well.

Conclusion

Retirement can be tough for your parents, especially if they haven’t planned their finances well. So, to make things easier, you can gift them a good investment plan or a parents’ health insurancepolicy at the earliest. While income stops after retirement, medical and other expenses increase exponentially. Therefore, planningyour parents’ retirement well for a financially stable future is the best gift you can give them.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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