Senior citizens or our elders are the backbone of our family. So, to keep getting showered by their blessings, we need to take care of them. But as old age brings various health-related problems, medical emergencies and prolonged medical conditions, maintaining their health can seem difficult. So, what can we do to make sure our elderly parents or grandparents stay healthy and all checked up?
Get your family a decent and sufficient coverage with senior citizen health insurance. Feeling confused? Here is all you need to know!
What is senior citizen health insurance?
The health insurance specifically designed for individuals above the age of 60 is known as senior citizen health insurance. These are well-designed with affordable premiums and valuable features to support elderly people throughout their need of regular health check-ups, prolonged hospitalization cases and emergency medical conditions.
Why do you need senior citizen health insurance?
Senior citizens often face sudden sickness or prolonged medical conditions. In such a case, expensive hospital bills can burn a hole in your pocket. Therefore, a senior citizen medical insurance is of utmost importance as it provides support to the people who need medical attention. Thus, having the right insurance for them can save them in unsteady times. Here are some reasons why you need senior citizen health insurance-
- Expensive hospital bills
Generally, when elderly people get sick, they need prolonged hospitalization to make sure all vital and health parameters come back to optimum. In such a case, hefty hospital bills can be troublesome. So, having the right insurance with the right coverage can save you from such charges and last-minute cash adjustments.
- Valuable Features
These specific senior citizen health insurance policies are designed in a way to deliver maximum benefits. Automated renewals, including pre- and post-hospitalization costs, and lifelong renew-ability are features that can make these insurance plans a great option for senior citizens.
- Critical Illness and emergency situations
In critical illness or emergency situations which are very common in old age, these policies can support and release some burden off your shoulders.
- Pre-existing diseases
Most senior citizen health insurance plans cover pre-existing diseases to make sure you get covered. This also strengthens your situation while fighting a prolonged illness.
What to look for in senior citizen health insurance?
Not all insurance plans you’ll encounter will be ideal for you. This is why you must check for a few factors before choosing the best plan for your parents or grand parents.
Some of these factors are-
- Coverage details
- Tax benefits
- Cashless reimbursements
- Claim settlement ratio
- Claim settlement process
- Claim bonus
- Hospital Network
- Waiting period
Apart from all this, factors such as your budget, feedback about insurance providers also play a major role in making a final decision.
When to buy senior citizen health insurance?
According to the IRDA guidelines for senior citizen health insurance, an individual is allowed to buy new health insurance up to the age of 65. Therefore, to make sure the health in old age can be taken care of, buy senior citizen health insurance at the right time. Here are some of other IRDA guidelines’
- If an insurance application gets rejected, one has complete right to get in writing the detailed reason for its rejection.
- Every insured senior citizen has the right to change their TPA.
- The insurer shall not refuse health insurance renewal. It is however waived off in the cases of fraud, misrepresentation or any hazard.
Keeping in mind all these guidelines and the importance of senior citizen health insurance, it is advised to get this from the best providers. While there are many insurance providers available, one of the best is Care Health Insurance.
The company has premium plans with affordable costs and vast coverage. It has a high claim settlement ratio to make sure you get the most out of your senior citizen health insurance plans. It also provides annual checkups for all insured policyholders, offers tax-savings, and also covers 540+ daycare treatment costs.