With the spiraling medical and hospitalization expenses, buying a senior citizen health insurance policy is imperative for your elderly parents. Health is wealth and our entire life revolves around our health conditions. With old age, people become more vulnerable to health risks, thus it is imperative to have a good health insurance plan to help your parents through this phase.
Here is a quick rundown of things you should consider before buying a senior citizen health insurance policy for your dear parents:
Age Limit - Some health insurance companies offer insurance plans for senior citizens who are of 80 years or above. But most of the insurers offer plans for people who are 65 years of age and older. So, you need to ensure that you buy a policy which offers a cover to your parents from their current age to the maximum number of years possible. And those, who are yet to buy a policy for their parents, aged more than 65 years, can still purchase it. Some plans have restricted entry and some plans offer open entry age, so it’s advisable to compare different plans and choose the one which fulfils your criteria.
Policy Renewal - Policy renewal is an important step, especially for senior citizens. You need to check, if the insurance plan which you have purchased for your parents, can be renewed till what age and time. Different policies have different age limits, so you need to pick the one as per your parent’s age and health conditions.
Illnesses That Are Covered - People at an old age, mostly have some pre-existing illnesses. At the time of buying health insurance policy for your parents, check the number of illnesses that are given coverage under your plan. Make sure the health insurance you choose, offers coverage against a larger number of existing and other critical illnesses. There is usually a time period after which these illnesses are given a cover, so stay informed about those terms and conditions also.
Amount of Sum Assured - This is the total amount that you will get after you claim your mediclaim policy with your insurer. Your insurance company will reimburse your medical expenses up to the amount that is assured in your policy. It depends on your budget, how much you want to get assured, the higher the amount, the more your parents would be reimbursed against the medical bills. Therefore, it is advisable that you get your parents an insurance policy offering the maximum cover from health risks and medical expenses.
Network Hospitals - Every health insurance company has a broad network of hospitals registered under their network. You can check which ones are covered under your senior citizen health insurance plans. In case of medical emergencies, you can get your parents treated from any of these network hospitals. And everyone prefers to go to a hospital in their vicinity and, which offers specialized treatment.
Premium Amount - Medical cover for senior citizens can be little expensive, as the diseases which are given a cover, can be of a serious and critical nature, sometimes involving specialized treatment and surgeries from the best doctors in the city. Do not risk your parents’ health by picking a policy with a lesser premium. Of course, this is subjective to your earning capacity and your parents’ health conditions. Choose the best one, to the best of your paying capacity. This would also depend on your parent’s age, type of illness and diseases covered. It’s always sensible to buy senior citizen policy instead of getting your parents covered under the family health insurance plan.
Some of the important features which you must consider in any health insurance policy for senior citizens -
Pick the Best Health Insurance Policy in India for Your Parents from the below mentioned policies
If you see your parents grow old comfortably and want to safeguard them from every possible health risk, then you have all the tools you need above! Make it safe, easy and secure for your parents as well as yourself, by choosing from one of best health insurance policy in India, for senior citizens, as mentioned above. These insurances plans will help you ward of all the tensions associated with medical treatments and hospitalization expenses. There are a number of policies from different insurance companies for senior citizens. Simply pick the best one or you, to keep yourself and your parents protected from any unforeseen health hazards.
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