Parkinson’s disease is a progressive disorder of the nervous system that affects movements. It may start with tremors which eventually leads to stiffness and slowness of movements.
Age is the biggest risk factor for Parkinson’s and people usually start developing the illness after they turn 60. Parkinson’s is recognized as a critical illness and its treatment can be strenuous on your pockets.
If you are taking care of someone with Parkinson’s disease, it is important to have a long-term financial plan. The following steps can be considered to plan wisely:
- Develop a financial plan: Planning for a critical illness effectively start to end is not possible. You will not have an idea how things may be years from now. But consider that Parkinson’s is a progressive disease and symptoms worsen over time. It is only advisable to plan ahead for it. There are professional financial managers and medical lawyers that deal with financial planning for people with chronic illnesses.
- Medical coverage: A lot of companies offer medical insurances to their employees. You should read all the documents correctly and understand the policy related to chronic illnesses. If you are unsure about the language or terminology, contact the personnel department or your financial planner.
- Private insurance: If you are privately employed and don’t have a company insurance that covers you or your loved ones, it is advised to look for the highest cover in a policy. Companies like HDFC Ergo have critical illness policies, especially for ailments like Parkinson’s.
- Government policies: If you belong to a low-income group and cannot afford a private policy, there are a lot of policies designed by the government of India to help the senior citizens take care of critical ailments. The National Mental Health Programme is one such scheme that is designed to focus on senior citizens who are affected with Alzheimer’s and other Dementias, Parkinson’s disease, Depression and psychogeriatric disorders.
If you plan ahead, it is possible to deal with Parkinson’s disease in a better financial manner.