Health Insurance for Senior Citizens

Senior citizen health insurance plans are designed to offer financial aid for medical treatment to people aged above 60 years when they require it the most.

Aug 26, 2020 08:08 IST India Infoline News Service

Sometimes it is hard to believe that the people who once cared and protected us through it all now need us to protect them. To be there for them. Through thick and thin. Especially when it comes to keeping them in the pinkest of their health. After all, it is now one of the primary things they think about and often worry over.  As our parents grow older, their bodies become frailer and their immunity weakens. That is why they become vulnerable to disorders, diseases, and injuries. They need some extra care and support during these years. And that is why they need a health insurance policy, so that should their health fail, the policy will see to all the medical expenses and ensure that you get the best treatment.
 
Why should you get a Senior Citizen Health Insurance for your Parents?
  • Healthcare expenditures are 3.8 times higher for elderly parents.
  • Prevalence of heart diseases amongst senior citizens in India is much higher in urban areas.
  • Diabetes mellitus complications and co-morbidities are more frequent in the elderly diabetics patients as compared to the young.
  • More than 50% of Senior Citizens in India suffer from depression.
 Some major benefits that make senior citizen health insurance plans a must buy are listed below:
  • Senior citizen health insurance plans offer a benefit of free health check-ups which the policy buyers can avail annually without paying anything extra. It monitors the insured person’s health and promotes a healthy lifestyle.
  • Pre and post-hospitalisation expenses are covered to protect the insured in a long period of illness.
  • Most senior health insurance plans cover pre-existing diseases.
  • These plans cover ambulance expenses and reduce the impact of miscellaneous health care costs.
  • Considering soaring healthcare costs in India, the senior citizens are offered a higher sum insured range under the plans.
Features of Senior Citizen Health Insurance Plans
Senior citizen health insurance plans are designed to offer financial aid for medical treatment to people aged above 60 years when they require it the most. Some common features of senior citizen health insurance plans are listed below -
  • These plans can be purchased on an individual or family floater basis.
  • Pre-medical screening is not required in most senior citizen health insurance plans.
  • These plans offer a free look period to the policy buyers during which they can thoroughly read and understand the policy terms and conditions.
  • Senior citizens can avail cashless and quality treatment in empaneled network hospitals with these plans. Expenses of room rent, doctor’s fee, medical bills are included in this facility.
  • Senior citizens can enjoy tax benefits on the premium paid for health insurance plans under Section 80D of the Income Tax Act.
 How to Choose Health Insurance for Senior Citizens?
Before putting any senior citizen insurance product in your cart, make sure you check on a few factors that help you make the right buying decision. These factors include-
  • Cost - You must look for a plan which has been designed for people with a fixed limited income.
  • Convenience - Look for health insurance plans which incorporate maximum features so senior citizens can seek treatment easily.
  • Coverage - Choose a plan that covers vulnerabilities that come with old age.
 The author of this article is Dr Gowri Kulkarni, Head Of Medical Operations, MediBuddy-DocsApp
The views and opinions expressed are not of IIFL Securities, indiainfoline.com

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