A senior citizen's health plan is specifically designed to assure people over 60 years of age. Our senior citizens belong to the class of people who want to retire with just enough money to enjoy their post-retirement life. At this age, they are vulnerable to uncertain illnesses, which may or may not be critical. Rising medical expenses in India are not helping them. A sudden medical expenditure can burn a hole in their pockets, exhausting their life-long savings. Health insurance for senior citizens in India thus becomes a necessity for them.
What is the need for the right health insurance for senior citizens in India?
As a person ages and crosses the age of 60 years, he/she becomes more inclined to face unexpected health issues. It often leads them to dreaded or critical diseases causing a substantial financial burden. Therefore, an insurance policy is necessary to support them during difficult times.
What plans are the best health insurance plans for senior citizens?
Here are some of the best health insurance plans for senior citizens to think about and consider.
- Senior Citizen Mediclaim Policy
- Varishtha Mediclaim Policy for Senior Citizens
- Senior Citizen Red Carpet Health Plan
- Senior Citizen Health Plan
Eligibility Criteria for health insurance for senior citizens in India
The minimum age should be 46 years, while the upper limit is 65 years.
Features of Senior citizens health insurance plans
Some of the key features of health insurance for senior citizens in India
- It is designed especially for people above 60 years of age.
- It includes pre-existing diseases, other critical illnesses, ambulatory services, hospitalization expenses, and a cashless policy.
- The insured person can choose a sum assured that would be sufficient to pay the expenses incurred.
- Some policies offer cover for the spouse of the insured as well.
Best Mediclaim Policy in India
Mediclaim policy means a health insurance policy. It takes care of all the Medicare and hospitalization expenses, be it by illness or by way of an accident.
Why should a person opt for the best Mediclaim policy in India?
With rising medical expenses in India, it is necessary to buy a Mediclaim policy. To avail the best in class medicare services, one has to opt for the best Mediclaim policy in India. It will help in covering all the expenses incurred towards getting the best treatment and health care facilities.
Features of the best Mediclaim policy in India
Below are a few points that one should consider before buying a Mediclaim policy:
- Check and opt for a sufficient amount of sum assured and the areas of coverage
- Co-payment means the amount of the claim, which is divided between the insured and the insurance company. So, check for any co-payment along with its percentage as well as payment to be done in advance
- Look out for any limits set for specific treatments like cardiac arrest, cataract, etc.
- Please ensure whether the insurance company has set any waiting period for any particular disease.
- Check the policy for any maternity cover being provided. Also, ensure whether a separate health cover is given to women.
- The network of hospitals covered by the insurance company has to be ensured. Doing so will enable the insured to get a cashless hospitalization and easy claim settlement.
- Check out the policy terms and conditions for inclusions and exclusions. In-depth knowledge about the policy will help in choosing the best Mediclaim policy in India.
Types of Mediclaim policies in India
There are mainly two kinds of Mediclaim policies available in India.
- Individual Mediclaim Policy
- Family Floater Mediclaim Policy
What are the benefits of buying a Mediclaim Policy?
Some of the advantages of buying the best Mediclaim policy in India are as follows:
- It offers excellent financial support to the insured, thus reducing the burden of finance.
- It is a very cost-effective way to take care of all health needs.
- The availability of cashless policy takes care of the hospitalization and direct claim settlement. So, the insured has no out of the pocket expense
- Tax benefits are also availed under Sec 80D of the Income Tax Act.
FAQs
1. What does a pre-existing disease mean?
Ans. Any health condition ailment, illness, or injury which has been diagnosed even if symptomatic, before 48 months of getting the policy, are pre-existing diseases.
2. What is a cumulative bonus?
Ans. A cumulative bonus is given when one whole year passes by without any claim in the health insurance plan. It is usually provided by way of an increase in the amount of the sum assured.
3. Is the Mediclaim policy valid across India?
Ans. Study the terms of the policy. Some policies offer even international coverage.