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New Delhi (India) August 3 : If you are looking for a suitable health insurance policy for senior citizens, it is essential to compare various plans from several top insurance providers available. There are several factors to consider and the two of the most important things are choosing the right type of plan and how much coverage a plan provides.
This article is going to give you a clear idea of what you should expect from a competent health insurance policy and what type of policy is there to choose from for senior citizens.
What Types of Health Insurance is Best for Senior Citizens?
If you have a nuanced understanding of your aging parents’ healthcare needs, you can buy the most suitable plan for them. Here are the different health insurance for senior citizens that might work best for them:
Senior Citizen Health Insurance Policies
These plans are specially tailored for individuals over 60 years of age. They focus on the special medical needs of the elderly and provide coverage for critical illness, pre-existing conditions, and domiciliary treatment. These plans cater to senior citizen’s needs by offering comprehensive coverage that also includes cashless hospitalisation.
Pre-existing Diseases Coverage
Most senior citizens will have a list of diseases that they are already getting treated for and a few that have left a mark on their health. Many plans do not cover these diseases, however, some plans cover pre-existing diseases with a waiting period. Plans that have the lowest waiting period are ideal for you.
Critical Illness Insurance
It is common that chronic diseases are more prevalent in the later part of a person's life. For a senior citizen, critical illness insurance is an essential part of his/her well-being. Upon diagnosis of any critical illness (included in the plan) the policy will provide a lump sum amount for treatment of that disease, allowing senior citizens to access quality treatment without worrying about money.
Mediclaim Policy with Lifelong Renewal
To ensure that your ageing parents do not have to worry about buying a new plan after the current one ends, you should purchase a plan with lifelong renewability.
Top-up Plans
Top-up plans are the way to go if you want extra coverage beyond the limit of your base plan. For example, in a scenario where after 5 days of hospitalisation the base plan exhausts itself the top-up plan will kick in to save the policyholder from bearing anything out-of-pocket.
Family Floater Plans
Family floater plans can also be beneficial for senior citizens who live with their families. These plans can offer coverage to all the members under a single plan. It removes all the complications of managing multiple plans.
What Does Health Insurance for Senior Citizens Cover?
Now that you know the various options that can work well for your parents, here is what a health insurance policy for senior citizens covers:
· Cashless Hospitalisation
· Ambulance Charges
· Hospitalisation Costs
· Pre and Post Hospitalisation
· Day Care Procedures
· Domiciliary Treatment
· Pre-Existing Conditions
· Critical Illnesses
What Does Health Insurance for Senior Citizens Do Not Cover?
You should know that knowing a policy’s exclusions is as important as its inclusions. Here is what a plan for senior citizens may not cover:
· Waiting Period
· Certain Medications
· Non-medical Expenses
· Alternative Therapies
· Routine Check-ups
· Vision and Dental Treatment
· Specific Treatment Limits
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The Bottom Line
This brief yet concise and to-the-point information will help you in the whole process of comparing health insurance policies for senior citizens. This will help you greatly to decide upon a specific type of plan and set your expectations about the coverage you can get.
Disclaimer: This is a syndicated feed. The article is not edited by the FPJ editorial team.
