Senior citizen health insurance policies cover medical expenses for people over 60. These plans are specifically designed to provide financial assistance to senior citizens in a medical emergency. Most of these policies include coverage for pre-existing conditions and critical illnesses.
Many senior citizens have health issues. Given the inflation of medical expenses, it is essential to have health insurance to cover medical costs that become unavoidable with age. With senior health insurance plans, one can live a happy old age without worrying about hefty hospital bills.
Why should you buy a senior citizen health insurance plan?
Senior citizens’ health insurance is an excellent way to protect your savings from unexpected medical costs. With the likelihood of a medical emergency increasing in the second innings, purchasing health insurance is one way to ensure that your savings are not depleted due to a health problem.
Senior citizen health insurance includes benefits such as preventive health check-ups and quality medical guidance, which aids in the early detection of serious diseases. It also helps to save taxes because the money invested in a senior citizen’s health insurance premium is non-taxable.
Advice: It is suggested to use an online health insurance premium calculator to understand the requirements, benefits and affordability of several insurance plans.
Why should senior citizen health insurance be bought online?
Senior citizens need medical insurance because ageing brings with it unexpected health risks. When investing online, you can browse and compare multiple insurance plans from your home.
Aside from the convenience of having all your plans, quotes, and policy documents on one screen, you may also benefit from some rewards and offers.
Making payments online also simplifies the process. The entire process is much smoother and less stressful, allowing you to choose any policy, read through the wording, and conduct extensive research before making an informed decision.
Senior citizen health insurance coverage includes:
Senior citizens’ health insurance covers hospitalisation and health benefits ranging from domiciliary treatment to diagnostic test coverage. The following are some essential advantages of senior citizen health insurance:
- Hospitalisation expenses are covered:
Senior citizen health insurance covers hospital expenses, including room charges, doctor fees, nursing fees, medicines and drugs, ICU charges, and other medical personnel, such as anesthetists, surgeons, consultants, and specialists.
- Daycare services:
Treatments that require less than 24 hours in the hospital, such as chemotherapy, dialysis, and physiotherapy, are also covered by health insurance. This benefit varies depending on the policy.
- AYUSH treatment coverage:
Alternative medical treatments such as Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homoeopathy (AYUSH) are available and preferred by many seniors. Many senior citizens’ health insurance policies cover AYUSH expenses as well.
- Additional expenses:
Medical or health insurance for senior citizens also covers other costs such as medical appliances, blood transfusions, medicines, operating rooms, pacemakers, stents, and various tests such as x-rays, blood tests, and other costly tests.
Things to consider when purchasing senior health insurance
Here are some things to consider when purchasing senior citizen health insurance:
- Check if the policy covers daycare treatments or procedures that require you to be hospitalised for less than 24 hours.
- Learn about the network hospitals your insurer must use the cashless claims service.
- It would help if you investigated the claim settlement ratio of the chosen senior medical insurance plan.
- If applicable, you should also be aware of the waiting period for pre-existing diseases.
- Many senior health insurance plans provide customers with preventive health check-ups. Determine whether there is a time limit for using the facility.
* Standard T&C Apply
** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
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