Ageing is a natural life phenomenon that no one can avoid. However, older adults can work on the quality of life to age gracefully and keep optimum ailments at bay. While you take all possible measures from maintaining a good lifestyle to eating right, emergencies aren’t foretold. Having the right Senior Citizen Health Insurance for seniors can also aid in managing your old age better. The pandemic has been harsh on both young and the old, draining out saving millions across the world.
Investing in a comprehensive senior citizens health insurance policy can cover a range of expenses for treatments and hospitalisations. Be it the ambulance charges, online doctor consultation or bearing organ donor’s expenses, a reliable policy can rescue you in the hour of need with financial preparedness for any medical contingencies, enabling you to seek quality healthcare services.
Finding Appropriate Medical Insurance for Senior Citizens
Unlike the health insurance scene a few years ago, today, you are likely to bump into an array of health insurance options for those aged above 60 years. Although it enables you to weigh out your options, the possibilities could look overwhelming, primarily if you register for a policy for the first time. Finding a policy with an affordable premium and desirable benefits does not come easily. Keeping a few aspects in mind can help you streamline your options, allowing you to land a nifty senior citizens health insurance policy that is balanced and offers the best coverage.
Respite from Battling Finances and Surviving Comorbidities
Tell your insurance company that you suffer an ailment, and you are sure to see your application for a new policy getting reject outright. Indeed, you may not be at your fittest best above 60 years, so a large segment of senior citizens suffer from different kinds of health conditions.
Be it diabetes, blood pressure or any other common comorbidity, only a few new insurance companies have been catering to people living with such conditions. Most companies continue capping on the assured sum and apply longer waiting periods. Also, disease wise sub-limits restrict benefits when expenses go beyond these sub-limits of specific illnesses.
Some senior citizens health insurance schemes have started offering higher entry age so that senior citizens not having a policy can buy these policies. Scrambling for the right policy is the last thing one should be left to do at that age. Whether renewing a policy or purchasing a health insurance plan for the first time, a little planning can go a long way.
It is not uncommon to find people without any individual insurance plan as many in the service profession depend solely on their corporate plan during their service period. If you are one of them, it is time to apply for a medical insurance policy after 60. You can also keep renewing the same policy as you keep aging as wine fine.
Thanks to new generation insurance providers such as Bajaj Finserv, medical insurance for senior citizens are available in various customize plans. The basic coverage under the old citizen health insurance plan includes pre and post-hospitalization expenses, surgeon’s fees, ambulance charges, ICU charges, among others. You can also check out plans that offer coverage for organ donation and transplantation expenses.
Co-Payment options
While you may choose your medical policy depending on your financial ability, often, the premium is lower in co-payment options. In such plans, insurance companies offer a fix sum insure under limits and the co-payment option where either of the spouses can claim the benefits.
Bajaj Finserv’s Senior Citizen Health Insurance Policy enables coverage for pre-existing diseases after the first year of the policy. Some plans also offer coverage value after the second or third year of the policy.
Opting for Finserv medical insurance for senior citizens can assure a worry-free old age as you can keep your savings and rely on the policy to meet your medical expenses. The cashless facility allows you to settle your medical claims without paying a single penny at the network hospitals. Moreover, these plans cover medical costs incurre before and after hospitalization.
Tax-free premiums, the sum of your choice and a no claim bonus while renewing the policy after every claim-free year are benefits worth considering for senior citizens health insurance. The policy also allows availing coverage against ambulance charges.
