Old age makes you vulnerable to develop various ailments. Hence, at this stage, you require adequate health insurance that can secure you against the rising cost of medical expenses. Health insurance plans for senior citizens allow you to spend your golden period of life peacefully. Apart from this, it also saves you from the financial losses that you may face post-retirement. Today health insurers like HDFC Ergo, Religare Health Insurance, and many others offer health insurance for senior citizens at an affordable rate. Then, why you have to wait for a situation to get worse and then opt for a health cover? It is always better to buy health insurance early.
In this article, we will discuss some of the essential features of health insurance for senior citizens.
Features of Health Insurance Plans For Senior Citizens
Mediclaim for senior citizens acts as a financial cushion for people who are above the age of 60. Nearly all health insurance plans for senior citizens have the same features about which you must know before opting for it.
Listed below are some of the common features of senior citizen health insurance plans.
1. These health insurance plans can be bought on an individual and family floater basis.
2. No pre-policy medical check-up is required.
3. You can avail of the facility of cashless treatment in the network hospital.
4. You can avail tax benefits on the premium paid as per Section 80D of the Income Tax Act, 1961.
5. There is a co-payment of 20% per claim if the age of the insured is more than 61 years or above in case of a family floater plan. Such an insured person will bear a co-payment of 20% over and above any other co-payment, if any.
6. Annual health check-up for all insured members
7. Most health insurance plans for senior citizens covers pre-existing diseases. If you have opted for an insurance policy from Religare Health Insurance, you will have a waiting period for 4 years.
8. Automatic recharge of sum insured
Before buying health insurance for senior citizens, you must know the claim process.
This policy allows the insured to file a health insurance claim in case of hospitalization or to avail of medical treatment. In case of emergency and planned hospitalization, you can inform the customer support team within the stipulated time.
Final Word
In your old age, you only wish to relax and live peacefully. Unfortunately, the risk of developing health risks is the most in the old age. Hence, opting for a mediclaim for senior citizens becomes essential. There are so many health insurers in India that offer health insurance for senior citizens with amazing benefits. At the same time, buying the best plan at an affordable rate is a daunting task.
It is difficult to ignore the health issues with increasing age even if you live a healthy lifestyle. So, you would not want to be a burden on your family, right? Hence, having a health cover that can safeguard you against any medical crisis has become the need of the hour.
