Health insurance is one of the most crucial investments that a family should make. In the case of senior citizens, the necessity rises two-fold. Old age calls for a number of diseases that need to be treated with first-class treatment. On top of this, we need not go over how expensive the medical facilities have become. Despite the availability of a bunch of government hospitals and subsidies, one is required to pay a ton of money to avail proper treatment facility.
Old age sees a decline in the income of a person and evidently leaves him/her unable to cater to medical attention. In India, thousands of elderly people die due to lack of treatment every year. They either cannot gather enough money for themselves or end up being a burden on their children. Senior citizen health insurance comes as a relief in these times.
Reasons To Choose A Senior Citizen Health Insurance Policy
- In old age, the income declines by a significant rate and in case of a medical emergency, it becomes difficult for a retired person to gather a sufficient amount of money for decent treatment. Health insurance covers one there. One can easily pay comparatively less amount in the form of premiums to avail the benefits of the plan in case of an emergency.
- It relieves the children of the tension of their parent’s health. With a health insurance policy, they will have a steady plan to fall back upon in case of a medical emergency.
- Many hospitals ask for a cash or cheque deposit before admitting a patient or if good enough, then within a few hours. They seem reluctant to begin treatment unless they get the required amount. In the case of having a health insurance plan, you need not go through such hassles. These companies have ties with hospitals and they guarantee coverage/compensation for your expenses.
Often people fail to avail health insurances either because they are ignorant about it or because of the expensive plans or in some cases because it requires elaborate and complicated formal steps and several health check-ups. These days, however, several policies that suit elderly people are out in the market like the Turtlemint Apollo Munich, Bajaj Allianz, Religare, TATA AIG, National Insurance and many more. Know more about such senior citizen health insurance.
Your Guide To Choose The Correct Health Insurance Policy
It is natural to get baffled and confused by such a wide range of choices. You may be tempted to pick the very first that comes your way or blindly follow your agent. However, before you invest in any plan for yourself or your parents, keep the following points in mind.
- Be careful of the facilities of critical care and hospitalization expenses.
- Do not make a low premium your sole criterion. Go for a higher one if it offers you more benefits. Remember the risk of falling ill at old age is higher. Pay a higher premium for safe coverage.
- Look for policies that have a low waiting period for illnesses that fall under a time frame which is predefined.
- Go for a plan that is lifelong renewable. These kinds of policies cover a person for as long as they require.
- Be aware of the pre-existing diseases it covers and which coincides with the benefactor. Sometimes coverage for certain medical conditions demands some extra charge.
- You must remember that generally, health insurances do not cover any treatment for AIDS, sexually transmitted diseases, drug addiction and suicide attempt.
- You can make your claim only after 30 days of your purchase unless it is a case of an accident. So it is wise to get insurance straight away. You never know when you may need it.
The importance of a senior citizen health insurance policy is immense and must not be delayed. Often people procrastinate in getting health insurance. They fail to understand its necessity until it is too late. These health insurances let thousands of families sleep peacefully at night.