The health insurance cover is considered to be very much critical for all senior citizens and the best part is that it will help in providing the people with financial protection from the hospitalisation expenditures as the income will decline. In the purview of the rising medical inflation in India and the increasing risk of the COVID-19 pandemic scenario the health insurance policy with a sufficient sum is considered to be a very important factor to be possessed by everybody. It is even more critical whenever individuals have elderly parents at home because as humans will grow old they will become much more susceptible to different kinds of problems which is the main reason that purchasing a senior citizen medical insurance is a matter of necessity nowadays.
As the name suggests this particular policy will be specifically for the people who are above 60 years in terms of age and several other kinds of insurance products this particular policy is also a contract between the insurance company as well as the buyer of the policy. Whenever the individuals will purchase this particular policy they will be liable to pay a premium sum to the insurance and in return, they will be paying for the medical expenses which the individuals will be incurring in their lifetime. The significant feature of this particular policy is that it will always have a higher premium and will help in providing the people with several kinds of advantages.
Following are some of the most important advantages of purchasing the senior citizen medical insurance policies:
- People can avail the cashless treatment at different kinds of facilities across the network hospitals of the policies.
- People will also be able to cover the domiciliary hospital expenses
- There will be a free look period of 15 days
- It will come with a free annual health check-up
- Tax benefits will be included in the premium paid for the policy
- It will be based upon the renewal of the policy which is another add-on advantage
Following are some of the very basic things to be taken into consideration at the time of purchasing these policies so that people can make perfect decisions:
- The people should go with that particular policy which comes with maximum coverage for the hospitalisation expenses for example doctor fees, medicines, diagnostic test and several other kinds of things. Looking for maximum coverage is very vital.
- The people need to be aware of the post-hospitalisation coverage and other associate limitations so that they can make the decisions accordingly and can ensure perfect decisions.
- Checking out the inclusion of domiciliary is another very important thing to be taken into consideration by the people so that they end up making the perfect decisions.
- The people need to have a clear-cut idea about the waiting period so that they do not have to pay the expenses from their pocket and it is highly advisable to go with that particular insurance which comes with the least possible waiting period for the people.
- Being aware of the co-payment clause is another very important thing to be taken into consideration because it reduces the claim payout. Typically the insurance companies provide the policyholders with complete flexibility of choosing the percentage of copayment and in the cases of senior citizens, it is very much important for the people to be prudent about choosing the copayment percentage. When the people choose a higher percentage than the premium will no doubt reduce but they will have to be making several kinds of payments at the time of claim. Similarly, if they go with the option of choosing the lower percentage then the premium will increase but they have to pay the bulk amount at the time of settlement.
- It is also very much important for the people to be clear about the exclusions of the policies as well as inclusions in the most common exclusions include the dental treatment, ailments in the 30 days within after buying the policy, AIDS, cosmetic surgery and various other kinds of associated aspects.
Before finalising the deal with the insurance company and signing out any of the policy papers the people should read the fine print carefully and have a clear-cut idea about which of the diseases are included and which of them are excluded from the policy so that they are very much successful in terms of avoiding any kind of false claims and further end up making the perfect decisions associated with the health insurance policy for the senior citizens. Apart from this, depending upon the top companies like Care insurance in India is a very good idea for the people so that they end up making the most prudent decisions and safeguard their health by getting the best possible cover for health.
