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Mumbai: For the first time, the centuries-old Bombay Parsi Punchayet (BPP), which has over 25,000 members, is attempting to facilitate a voluntary group insurance scheme within the community, primarily to support its ageing and geriatric population.
The 2011 census was an alarm bell for the community, as it recorded a significant population decline—from 69,601 to 57,264. Initiatives like Jiyo Parsi were introduced by the Union govt to address this issue by providing social security schemes for couples, including medical treatment. However, while these initiatives focus on issues such as infertility and childbirth, they only marginally address the needs of the elderly, treating them primarily as dependents in need of financial assistance.
“Parsis are an ageing population, and there is nothing to address that. Individual insurance has high premiums, and these policies are not friendly to senior citizens with pre-existing conditions,” said Viraf Mehta, one of the seven trustees of BPP.
While details are still to be finalised, BPP is in talks with Poonawalla Fincorp (formerly Magma Fincorp) for a comprehensive insurance cover. The tentative pamphlet circulating within the community states that there will be blanket insurance coverage without prior medical examination, no age limit, and coverage for advanced medical treatments. It also notes that a family of four would be covered up to Rs 20 lakh and that premiums will be “more competitive” than market rates.
“The community has its one and only Parsi General Hospital, but for super-speciality treatments, people are compelled to visit other hospitals where expenses can increase,” said Noshir Dadrawala, former trustee of BPP.
A doctor from Parsi General Hospital said that not all Parsis are ultra-wealthy, contrary to perception. “We treat half of our patients free of cost because they cannot afford it. The others are treated at a subsidised rate.”
He added that 80% of the patients at the hospital are geriatric patients who come in with heart disease, lung disease, fractures, and joint replacements. “At some of the other hospitals, one visit can make a person bankrupt, wiping out all the life-savings. There are some govt schemes for the poor, and the rich can afford the best treatment, but a large number of middle-income families are left struggling with high insurance rates. For pre-existing conditions, insurance companies have a cooling-off period where one cannot avail of coverage for three to four years,” the doctor said.
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