Dual Coverage: PM Jeevan Jyoti Bima and Parental Mediclaim

Health insurance is an essential aspect of financial well-being. As we grow older, the need for insurance only increases. With escalating health costs in India, it’s important to invest in a comprehensive policy that offers coverage for a majority of the medical expenses. However, a single policy may not provide adequate coverage for all health-related expenses, leading individuals to purchase multiple policies for gaining sufficient benefits. This is where Dual Coverage comes into the picture. In this article, we will discuss the benefits of dual coverage and the two essential policies to invest in Pradhan Mantri Jeevan Jyoti Bima and Parental Mediclaim.

The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has been introduced by the Government of India. The program aims to provide life insurance protection to millions of individuals who cannot afford it. The policy is available to those aged 18-50 years and provides coverage for a maximum period of 55 years. The policy can be renewed annually and premiums can be paid through auto-debit from the policyholder’s bank account. The PMJJBY is an affordable policy, with an annual premium of Rs. 330. In case of the policyholders death, the nominee will receive a sum assured of Rs. 2 lakh. The policy is renewable annually, and the premium can be auto-debited from the subscriber’s bank account.

The mediclaim policy for parents is another vital policy that offers health coverage to senior citizens. The policy aims to cover medical costs incurred by individuals in case of illness or injury. The policy provides a host of benefits to the policyholder, including cashless hospitalization, pre-and post-hospitalization expenses, room rent, daycare expenses, and more. The policy’s sum assured ranges from Rs. 2-5 lakhs, depending on the policyholder’s requirements. Parents are often dependent on their children for financial support and care. A parental mediclaim policy can come in handy during their medical emergencies, ensuring they receive timely and quality healthcare services.

Primary Benefits of PM Jeevan Jyoti Bima

The policy offers numerous benefits to its policyholders and their nominees. Some of the significant advantages are as follows –

1. Affordable Premiums: The PMJJBY scheme’s annual premium is Rs. 330, making it one of the most affordable life insurance policies in India.
2. Guaranteed Sum Assured: In case of the insured’s untimely death, the nominee will receive a sum assured of Rs. 2 lakh.
3. Easy Enrollment: The policy can be easily enrolled by submitting a simple form and providing documents such as ID proof, address proof, and a nomination form.
4. Hassle-Free Renewal: The policy is renewable annually, and the premium can be auto-debited from the subscriber’s bank account.

Primary Benefits of Parental Mediclaim

The policy offers numerous benefits to its policyholders. Some of the significant advantages are as follows –

1. Cashless Hospitalization: The policyholder can avail cashless medical treatment at network hospitals. The policy covers all expenses associated with the hospitalization, including room charges, doctor’s fees, and more.
2. No Age Limit: Most medical insurance policies have an upper age limit. However, with parental mediclaim, there’s no age limit, making it an ideal policy for senior citizens.
3. Pre-and Post-Hospitalization Expenses: The policy covers pre-and post-hospitalization costs up to 60 days and 90 days, respectively.
4. Daycare Procedures: The policy covers numerous daycare procedures that don’t require overnight hospitalization.

Dual Coverage: PM Jeevan Jyoti Bima, and Parental Mediclaim

Dual coverage has gained popularity in recent years, especially amongst individuals who have aging parents. Dual coverage offers comprehensive financial protection for both the insured and their family members, including life insurance and health coverage. By opting for PM Jeevan Jyoti Bima and Parental Mediclaim, individuals can secure their financial future and offer medical support to their aging parents.

Dual coverage offers the following benefits –

1. Comprehensive Life Insurance Coverage: PM Jeevan Jyoti Bima offers life insurance coverage for the policyholder, ensuring their family’s financial stability in case of accidental death.
2. Health Insurance for Parents: Parental Mediclaim offers health coverage to the policyholder’s aging parents, ensuring they receive timely and quality healthcare services.
3. Cost-Effective: Dual coverage is cost-effective as the policies offered are affordable and offer substantial coverage benefits.
4. Financial Protection: Dual coverage assures the policyholder’s financial protection in case of unexpected medical emergencies.

Conclusion

Pradhan Mantri Jeevan Jyoti Bima and Parental Mediclaim are essential policies that an individual must invest in, especially if they have aging parents. Dual coverage ensures comprehensive financial protection for both the insured and their family members, offering life insurance and health coverage. The policies are affordable, offer substantial coverage benefits, and are renewably annually, making them an ideal investment for long-term financial planning. Dual coverage is a smart way to secure the financial future of you and your loved ones.