Health insurance policy for senior citizens has become a necessity now with the life expectancy rate falling down the graph every day. There is the advent of new types of diseases almost every day and in such a scenario our elders are not at all safe. This specially happens when they are retired and are living off pension. A fatal disease can be a lot of stress for the family members of senior citizens. This stress can very easily be avoided by taking a very comprehensive health insurance for the senior citizens of your family. With it, you won’t have to worry about their illnesses or have to lose them because of inadequate treatment because of financial problems.
There are certain things which you should check thoroughly and be aware of before buying a health insurance policy for senior citizens or else the policy which was supposed to make you stress free may add to your burdens.
Always get information and inquire about the things that the insurance will cover as there are some insurance policies that are fraudulent and won’t cover the essential and high costs. Therefore always investigate beforehand and settle for the one that covers the most.
Always choose the one that is best suited for your senior citizen. If they are having very chronic and life threatening diseases then the high costing ones will be beneficial or if they are somewhat fit you can go for a cheap one. Calculate your affordability before buying the policy.
Get a comprehensive list of all the diseases that your insurance policy is going to cover; there are some diseases that the old age people are most susceptible to. Therefore make sure those diseases are adequately covered.
Take into consideration the period you will have to wait before you can are eligible to receive the benefits of the health insurance. Senior citizens are on the verge of their life’s end therefore too long a wait is not beneficial. Always choose a policy with the minimum waiting time for greater benefits.
Now that you are aware of the things which you should know, let us see the best health insurance policies that are available in the Indian market.
This health insurance policy can be availed by senior citizens of the age of 75 years and above and it has a waiting period of 4 years with no charges of cover. It also covers a room rent amount of maximum 4000. This is most suitable for seemingly fit individuals and can be easily availed after a number of successful tests.
This policy can be availed by senior citizens of the age 70 and above and is valid up to the age of 90 years. This is the best because it has a very less waiting period in fact almost nil with a free 1st claim year. They cover all hospital costs free of charge without you having to pay any amount.
Aged 55 and above can avail this and it goes up to age of 75. It has an existing waiting period but that is so less that it is negligible. They cover medical costs with a co payment of 20% on your part.
The entry age for this health insurance is 60 years and it goes on forever. This is the best lifelong policy. The waiting period for this policy is just 2 years with a 50% co-payment but after that there is less co-payment and later nil co-payment.
This senior citizen health insurance is known as HOPE. This health insurance even includes ambulance charges of 1000 Rs or even the exact fees charged by the ambulance service. Blood, dialysis, surgical appliances, oxygen tanks, chemotherapy, etc. everything is included in this health insurance that really provides hope to the senior citizens.
So, get the best senior citizen health insurance that you feel you require and lead a tension-free life.