- Date : 20/05/2022
- Read: 4 mins
The onset of old age brings with it a variety of ailments that are costly to treat and care for. Various insurance firms offer health insurance for senior citizens aged 65 and above. Customers' medical bills are easily covered through these health insurance plans.
As we become older, our physical and mental concern over money and our ability to pay for good treatment increases. A senior citizen health insurance plan is designed to provide financial assistance for medical treatments to anyone aged 60 or above. Critical sickness coverage, cashless hospitalisation, pre-existing disease coverage, and a greater sum assured are all included in senior citizen health insurance plans.
As you get older, you increase your chance of catching diseases and falling sick. Because the later years of a person's life are physically more difficult and financially less secure, having a medical insurance plan to cover any unexpected medical expenses is a wise choice.
What Are the Benefits of Purchasing the Best Senior Citizen Health Insurance Plan?
People become increasingly prone to major diseases and medical issues as they age. If your parents are diagnosed with a chronic or severe illness, they may require long-term care, resulting in heavy medical bills and financial hardship. Though your parents are protected through your corporate health insurance policy, buying a senior citizen health insurance for them is a must. This is because your corporate health insurance policy may not be adequate to cover the health issues of your whole family, including your parents.
Key Elements of Senior Citizen Health Insurance:
The following are some of the most important features of senior citizen health insurance plans in India:
- Medical bills and accommodation charges are included in the hospitalisation coverage.
- Cashless hospitalisation.
- Ambulance costs are covered.
- Pre-existing conditions are covered depending on the insurance company.
- No medical exam is required to obtain medical insurance. This is determined by the insurance company.
- Coverage for a larger sum insured.
- Settlement in a shorter amount of time and with less effort.
Best Health Insurance Plans for Senior Citizens in India in 2022
What is Covered Under a Senior Citizen Health Insurance Plan?
Some of the most common inclusions in a senior citizen health insurance plan are listed below:
Hospitalisation Expenses: The insurance company repays the policyholder with hospitalisation costs, including ICU charges, doctor charges, room charges, medication costs, nursing expenses, and operation theatre charges in the case of surgery, among others.
Other Health Care Expenses: The senior citizen medical coverage plan incorporates radiotherapy costs, dialysis, chemotherapy, muscular inserts, fake appendages, vascular stents, pacemakers, and other similar medical equipment. Blood tests, X-rays, Ultrasounds, and other necessary diagnostic tests are also included in the health care expenses.
Pre and Post-Hospitalisation Expenses: These are the expenses when the hospitalisation is for 24 hours or more. Different senior citizen health care coverage plans have a different number of days included in the plan. Some might cover them for 60 and 90 days separately, while others might cover them for 90 and 180 days individually. These costs might incorporate doctor fees, costs associated with X-rays, blood tests, etc.
Coronavirus Expenses: Under the senior citizen insurance plans, an individual gets compensation for costs brought about because of COVID-19 therapy up to a particular cut-off.
Organ Donor Expenses: Most senior citizen health care coverage plans include coverage for organ donor expenses.
Previous Illness: The senior citizen health care coverage approach also provides coverage for any prior illness, subject to the agreements stated in the arrangement.
What Isn’t Covered Under Senior Citizen Health Insurance Plan?
Even though the majority of health-related ailments are covered by the health plan, some benefits might be denied. The following are some of the most common exclusions:
Corrective Medical Procedure: Senior citizen health insurance plans don’t cover therapies associated with restorative medical procedures expected for the improvement of your looks. However, if a restorative medical procedure is required as a result of an accident, your insurance company may cover the cost.
Self-Incurred Wounds: Medical coverage plans do not cover injuries sustained as a result of a display of self or an attempt at self-destruction.
Interest in Experience Sports: Senior health insurance plans do not cover any injuries or treatment costs incurred as a result of participation in adventure activities such as paragliding.
Inebriation: Senior citizens' health insurance policies do not cover illnesses induced by intoxicating substances such as alcohol, smoking, tobacco chewing, and so on.
Weight-Control Medicines: Weight loss medications, such as bariatric surgery, obesity therapy, and so on, are not covered by senior health insurance policies.