Your parents are always your first priority. Just as they have taken care of you during your youth, their old age brings about a period when they need taking care of from you. Old age brings along with it several kinds of ailments and illnesses which cannot always be foreseen. These ailments can be financially exhaustive. Senior citizen health insurance schemes have been designed to help take care of these expenses which come naturally along with old age.
When it comes to your parents, you want to opt for only the best options for them. Choosing a good health insurance policy for your parents is extremely important. There are several great health insurance companies and different kinds of schemes to look into. Health insurance policies for your parents will offer various kinds of benefits, such as critical illness coverage, cashless hospitalization, and health coverage for specific diseases like stroke, cancer, etc.
What are some of the key features of senior citizen health insurance?
Senior citizen health insurance schemes offer a variety of features. Of course, different companies and different plans will offer you different features. It is important to go through all the different plans in length before deciding on one for your parents. Here are some of the most significant features of senior citizen health insurance policy:
- Hospitalization coverage which includes medical bills as well as room charges
- A hassle free, faster settlement
- Cashless hospitalization
- Coverage for pre-existing diseases
- Day-care expenses which could arise out of technological advancements
- Higher sum insured coverage
- Ambulance charges
- No medical tests are required before availing for medical coverage (however, this is based on specific insurance providers and their conditions).
Who is eligible for senior citizen health insurance?
Typically, senior citizen health insurance plans are availed by those individuals who are above 60 years of age, retired, and do not have any regular income. This is why senior citizen health insurance plans are often availed by children for their ageing parents.
What are some of the features which are not covered under these insurance policies?
It is important to know about some of the clauses which aren’t covered by the senior citizen health insurance plans. These include:
- Pre-existing injuries and diseases
- Diseases which they might have got within 30 days of buying of the health insurance policy
- Any form of non-allopathic treatment
- Any expenditures related to self-inflicted injuries
- Cosmetic surgery
- Injuries due to act of foreign army, way, etc.
- Expenses due to drug abuse
- Expenses of dental treatment, spectacles or lenses which arise not ‘out of accident’
- Expenses incurred due to the treatment of AIDS
- Ailments such as joint replacement surgery are covered only 2 years after availing of the policy
What are the advantages of opting for a senior health insurance policy?
Many individuals opt for a senior health insurance policy for their parents. This is a very natural choice to make since old age brings about a lot of illness and ailments, most of which can be extremely expensive to treat. By opting for a good senior health insurance policy, you can avail of several great benefits. Some of these benefits include:
- Reload of the sum insured
- Renewal of the policy option
- Enjoying the free look period
- Domiciliary hospitalization cover
- Availing of free annual health check-ups
- Tax benefits on medical insurance premium
- Cashless treatment along with daily allowance (this varies from insurer to insurer)
How can you opt for the best senior health insurance policy?
When opting for a health insurance policy for your parents, it is important to research well first. Different companies offer different schemes. Making an informed decision will ensure that your senior citizen parents health needs are well taken care of in the future. Here are a few points to keep in mind when opting for senior health insurance policies:
- Choosing the right plans
When opting for a senior health insurance plan, it is important to go through all your options first. Find out all the information you can from different companies and different schemes, taking into account cost, cover and exclusion before choosing.
- Medical history
It is important to be aware of your (parents) medical history before opting for a senior citizen health insurance plan. This will help you be aware of certain health issues that they might have (genetically or by heredity) which will make it easier for you to opt for a good health insurance plan for them.
These are some of the most important things that you need to be aware of when opting for a good senior citizen health insurance plan for your parents. Check with the different schemes and pick the best one to suit their needs for the future.