As you get older, you become more prone to various health issues. Medical treatment for such diseases can cause a huge financial burden if you are not backed with proper health insurance. The need for adequate and secured health insurance gains importance not just during the working life of an individual but also when one lives a retirement life. That’s where senior citizen health insurance comes into play, as it safely covers all the expenses incurred for treating the health concerns of your old–age parents/ grandparents.
Senior citizen health insurance is a type of health insurance policy exclusively meant for senior citizens aged above 60 to meet the high medical expenses incurred during hospitalization and treatment. Here, the insured pays a premium each year to the insurer, who pays the sum insured in case of a medical emergency. These are health insurance plans that come with affordable premiums so that senior citizens can sit back and relax during their golden days.
Before you decide to purchasesenior citizen health insurance, you need to thoroughly go through all the available health insurance plans and policies of different insurers. Also, there are certain factors that need to be considered before you finalize a health insurance plan for senior citizens. Let’s have a look into each of these factors:
While choosing a senior citizen health insurance, you need to know their medical history, especially if there are any prevailing health conditions. Therefore, it is better to cross-check to get a fair idea of your parent’s medical history before providing information to the insurer.
As stated above, you need to compare and research different health insurance plans offered by various medical insurance companies to choose the right scheme that comes with coverage benefits, add-ons, inclusions, and exclusions.
While choosing a health insurance plan for senior citizens, go for a plan that has a higher sum insured, which covers all your medical expenses and treatment costs. As old age requires more health checkupsat frequent intervals, it is always better to select the one that offers higher sum insured.
Go for a senior citizen health insurance plan that has a lower waiting period so that policyholder can claim the insurance cover when the insured needs it the most.
Different insurers charge different rates for co-payment. Select a health insurance plan that will have a lower co-pay (amount paid by the policyholder whenever any claim is made).
Choose a policy with a high number of network hospitals so that you can access your nearest hospital in case of a medical emergency.
Certain insurance providers offer wide coverage of illnesses, including diabetes, cancer, heart disease.
Amidst the rising cases of COVID-19, the need for a health insurance plan has been increasing. There are so many health insurance plans available in India, which provide many benefits for the policyholders. Choose a trusted insurer like Care Health Insurance and check for these points, as mentioned earlier, to not spend extra for medical emergencies in the future.
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