Growing age is an inevitable fact of everyone’s life which brings with it the blessing of experience and the curse of bad health. Everyone wishes to live a healthy life but we cannot deny the fact that with growing age the body becomes feeble, hence it gets more prone to diseases. But income after retirement is not sufficient to take charge of treatments. Here comes the need of health insurance for senior citizen in the picture. It provides a peace of mind to your parents, financial security and tax benefit to you.
A senior citizen health insurance plan provides a cover for the treatment of illness suffered by the insured, above the age of 60. A typical plan will provide various facilities such as – doctor and surgeon fees, cost of medicines and diagnostic tests, day care expenses, pre and post hospitalization, etc. Sudden illnesses and accidents are also covered in a comprehensive health insurance for senior citizens. Though this medical insurance is costly, it pays well later in times of emergency.
Features - Senior Citizen Health Insuarnce
The everyday advancement in technology has largely improved medical science but at the same time lead to a steep rise in the treatment costs. Every single visit to the doctor is sure to pull loads of money from your pocket. The probability of falling ill in the age of 60 and above is generally higher and that is when health insurance policy acts like a savior, keeping your pocket happy.
Need for future
You never know what will be your health status once you grow old hence it is better to purchase a health insurance policy today for a better tomorrow. Having a senior citizen health insurance helps you stay relaxed for future, making sure your loved ones can get quality treatment without having to worry about the huge medical expenses.
It is not possible that you are always near your parents especially if you are outside the county. In such a situation, health insurance policy can help them get started with the treatment. This provides them a sense of security to get their treatment done in any network hospital during tough time when their child is not present with them.
Treatment of pre-existing diseases
It is quite possible for anyone to have pre-existing disease when availing the policy. So, almost every health insurer considers this fact while designing its policy. An individual just need to pass through the waiting period after which he can get the pre-existing disease cured under the same policy.
Health insurance policy lets you enjoy tax benefit under section 80D of the Income Tax Act of 1961. One gets a tax benefit of Rs. 20,000 in case of senior citizen health insurance.
Exclusions – Senior Citizen Mediclaim Policy
- Any illness diagnosed within few days of inception of policy is not included
- Self inflicted injuries
- Dental or cosmetic treatment
- Experimental diagnostics with no proof of illness
- Psychiatric disorders
- Treatment of illness as result of HIV
- Misuse of alcohol or drugs
- Treatment of injuries as result of war, strike or riots
One should buy health insurance only after comparing different plans to select the best deal and this can be done through various online insurance comparison portals like policybazaar.com
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