Health coverage available for a senior citizen in India?

Health insurance for senior citizens in India is presented by different insurance companies to economically secure those who are aged 60 and above. The health insurance policies for senior citizens are planned to cover all kinds of medical expenses that may be incurred by a senior citizen in case of hospitalization. Gifting health insurance policy to aged parents or senior citizens in the family is the best way to show our love and care for them.

The Benefits of Senior Citizen Health Insurance in India

  • Offers top sum insured advantages
  • You can avail tax benefits on health insurance premium under Section80 C of the Income Tax Act.
  • Offers benefits from the free-look period on the health insurance policy
  • Offers day  care costs which arises due to the use of special tools while treating actions such as dialysis and chemotherapy• Offers free health  check-ups available once in a year
  • Cashless hospitalization can be availed if patient is admitted for more than 24 hours – Inclusive of doctor fees, medical bills, room charges, etc
  • Offers ambulance expenses  under certain terms and conditions
  • Pre and Post hospitalization expenses is covered depending on the number of days one spends in the hospital
  • Pre-existing diseases are covered only as per policy norms

Points to consider before choosing senior citizen health policy are:

  • Know the medical history: While purchasing a health insurance policy for your senior citizen parents, you need to know their health history. But sadly, they too may be unaware of many existing medical circumstances that they suffer from. In such cases, it would be difficult to rely solely on their knowledge of their medical history. Before giving such information to the insurance company, it is better to under-go a complete health check-up. The health insurance company will ask the senior citizens to under-go their mandatory health check-up once they apply for the policy. It is only after the results of these tests that the policy is issued and premium is under-written [increased or decreased, depending on the risk profile you have].
  • Compare different plans:There is numerous existing and new senior citizen health insurance plans accessible online in India. It is important to weigh between the different schemes. Comparison between the different health insurance plans for senior citizens can be done on features such as coverage, price, riders/add-ons, inclusions and exclusions. You may compare plans of different insurers on a leading online insurance broking firm.
  • Proposal form:While selecting the Health Insurance Policy, fill in the significant and accurate information. Wrong information could cause troubles and your insurer will reject the claim.
  • Do a health check-up:The insured would have to undergo a health screening after proposing the application form. The doctors on the panel of the insurance company would verify the information associated with the health conditions of the policyholder. Counting on the health of the insured, a few medical tests would be performed by the doctor. There are also few senior citizen health insurance plans that don’t involve pre-policy medical screening tests.

Health Insurance Policy can be compared on the below mentioned aspects:

  • Network hospitals
  • Waiting periods
  • Age limit
  • Sub-limits
  • Day care expenses coverage
  • Add-on covers
  • Exclusion list
  • Claim settlement ratio

Therefore, it is necessary to select the right insurer for your senior citizen parents while keeping all the above points in mind. It is essential that you start early in life to buy a health insurance policy instead of waiting till the last minute. Do not forget to read the policy wordings without fail.