Provisions in 'Maintenance of Parents and Senior Citizens Bill, 2007' India:

Maintenance of Parents

यदी आप गुगल क्रोम इस्तेमाल करते हो तो हिंदी में पढ़ने के लिये इधर क्लिक किजीये. फायर फॉक्स आय ई इस्तेमाल करते हो तो भी शायद पढ़ सकेंगे। प्रयत्न किजीये।

The Maintenance and Welfare of Parents and Senior Citizens Bill, 2007 (External website that opens in a new window) is an initiative of the Ministry of Social Justice and Empowerment (External website that opens in a new window). It was introduced in the Lok Sabha (External website that opens in a new window) on 20th March 2007.
The Bill states that adult children and grandchildren who are earning members are required to maintain and take care of their parents or grandparents. Maintenance refers to the provision of proper food, clothing, housing and medical treatment.

Parents include biological, adoptive and step parents. Also, any relative of a senior citizen who is in possession of property or who stands to inherit the property of the concerned senior citizen is liable to provide maintenance. An important feature of the proposed bill is that it would provide protection not just to parents who are over the age of 60 years but also to every parent who is in need of care.

The bill proposes to set up tribunals in every district where aggrieved parents may complain about being neglected. All elders, who are unable to maintain themselves through their own earning or out of the property owned by them, shall be entitled to make an application. The tribunal will pass an order regarding the amount of maintenance to be provided. Children, grandchildren or relatives may also face a jail term, have to pay a fine or be disinherited from property bequeathed to them.

I live alone. How do I ensure my safety?

Answer: As children migrate and settle in different cities, senior citizens are left to stay alone. Isolation and frail health exposes them to assaults and other such criminal acts. Here are some tips (External website that opens in a new window) about how you can prevent the same from happening to you:

a)             Register the name of domestic help and drivers (External website that opens in a new window) at the nearest police station by filling in the appropriate form. This form with their photos will then be sent to the police stations at the workers' native places so their background can be immediately verified.

b)             Install safety features such as a peephole facility, safety latch or iron grill so that you can scan each visitor before allowing them entry. Be extra careful while allowing unknown persons like vegetable sellers, washermen and milkmen inside.

c)             Do not open cupboards, show valuables or discuss financial matters in front of domestic help. They may be tempted to carry out an unlawful act.

d)             Do not withhold pay, derogate or mistreat domestic workers. They may seek revenge.

e)             Develop a network of friends and talk to your neighbours to ensure that you do not live a secluded life. Go for regular walks in groups and socialise.

f)              Do not keep valuables at home. Store jewellery in a bank locker and cash in your savings account. Try and keep a dog if possible.

g)             Keep important telephone numbers handy. This includes that of friends or relatives living nearby as well as that of your local police station.

h)             Delhi Police (External website that opens in a new window) has designated beat and divisional constables to keep a record of senior citizen residences. Inform them if you are having any problems. Keep in touch with your local police. You may also dial 100 or 1291 in case of an emergency.

Be vigilant at all times and don't trust anyone blindly. These steps will guarantee your safety and protect you in case something untoward happens. If money is needed go for rverse mortgage scheme of annuity payment.

Reverse mortgage, ideal for senior citizens?

No  Financial Problem. Take care of  Health

Till recently senior citizens of India did not have a way to liquidate their most significant and largest asset the house but now people can take a lump amount as a loan by pledging their home. They can also opt for this amount on a periodic basis…monthly, quarterly etc. They will never have to repay this money in their lifetime and they can continue to live in the house. They can also opt for this amount on a periodic basis…monthly, quarterly etc. At their end of their lifespan, the property will be sold and the loan amount and interest recovered. If the value of the property diminishes over  time, no one is liable to repay the loss, the bank or housing finance company incurs it. On the other hand, if the value of the house appreciates and returns exceed interest and principal repaid, then the amount is passed on to the heirs.

As the concept is new in India and a lot many factors like the loan amount, interest etc. is left to the discretion of the Bank, it is best to read the fine print carefully and ensure that the both parties have understood the terms and conditions thoroughly before proceeding with the arrangement.