senior citizen coverage

What is Senior Citizen Coverage?

Getting old makes you see life from a different perspective. Health is the first companion that starts deserting along with it your hard-earned savings. A Senior Citizen Health Insurance assists such times. There are various health insurance plans, specially designed for senior citizens.
Health insurance for senior citizens is offered by different insurance companies to provide you financial security by covering all your medical expenses. Gifting health insurance to your aged parents is the best way to care for their needs.

Why buy health insurance for senior citizens?

  • They are more prone to illness
  • You buy a plan to ensure that medical emergencies are taken care of in a systematic and hassle-free way.
  • Unexpected health issues and money crisis makes aged people feel guilty, and they think they are like a burden to a family.

What is covered in senior citizens health insurance?

  • Hospitalization cover includes room rent and medical expenses.
  • Daycare and ambulance expenditure
  • No medical check-ups are needed before buying a senior health cover
  • Quick and hassle-free claim settlements
  • Cashless hospitalization

What is not covered?

  • Any disease sustained within 30 days of availing the policy.
  • Any pre-existing diseases
  • Treatment for the use of intoxicants (alcohol and drugs) are not included
  • Cost of spectacles, lenses and dental treatment are not included
  • Expenses related to injuries caused by yourself
  • Specific ailments are covered only after two years of purchasing a policy

Reason for change in paying premiums:

Sometimes, the insurance company may increase the premium amount of health insurance plans. This is when the policyholder is found to devour liquor, tobacco, or being engaged with other activities that can break down their health conditions.

When do you purchase a senior health insurance plan?

These plans are designed for those over the age of sixty and even best suits for retired people. These plans are either purchased by a senior citizen for themselves or by individuals for their parents.

Key points which are to be followed while buying this insurance:

  • You need to have a clear idea of your medical history because you might be unaware of prevailing health conditions. Before providing information on your medical health to the insurance company, it’s better to cross-check.
  • There are many existing and new senior insurance plans in the market, so before buying, always make comparisons with different schemes.
  • Provide relevant information while filling a proposal form to avoid facing the consequences in the future.

Quick takeaways:

  1. Age: the minimum age of entry to buy this policy is 60, and there is no maximum age limit. One should buy at an earlier age to increase the chances of getting better coverage. The age limit for renewal varies from one company to another, so check the terms and conditions carefully before buying the policy.
  2. Cover value: A rough calculation of the medical charges for the entire year will help you decide the desired cover value.
  3. Hospital network: go for hospitals with a cashless facility. Do enquire about the cashless tie-ups in the hospitals of your choice before making the payment.

“Happiness is making your parents happy.”

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