Empowering Senior Citizen’s Health: Key Insights into Choosing the Best Health Insurance for Senior Citizens
With ageing come various ailments that are very expensive to treat. Especially after 60 years of age, our body starts losing its regenerative power and hence becomes more prone to infections and illnesses.
The most common diseases that affect senior citizens include diabetes, depression, Osteoarthritis, severe joint pain, Alzheimer’s, Parkinson’s, and Cancer.
Managing the expensive hospital bills would be very difficult for someone over 60 and living on a retirement package. That’s why health insurance for senior citizens is a must to avoid financial distress.
Medical insurance covers unforeseen expenses such as health check-ups, hospitalisation, day-care procedures, surgery costs, physiotherapy sessions, and more.
In present times, many types of cashless health insurance policies are available exclusively for senior citizens. Below, we have listed some of India’s best health insurance for senior citizens above 60.
Types of Health Insurance Highly Recommended for Senior Citizens
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Critical Illness Insurance
Critical illnesses that primarily affect senior citizens involve renal failure, paralysis, cancer, heart attack, and stroke. By buying critical illness insurance, you can avail of a lump sum payout upon diagnosis and secure the hefty medical treatment expenses.
Reputed insurance companies in India offer critical illness insurance as a value addition to senior citizens’ health insurance. You can choose to add this coverage to your policy or exclude it. However, it is recommended to get this coverage, as treatment costs for critical illnesses are rising.
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Health Insurance for Pre-existing Condition
Senior citizens are very likely to have pre-existing medical conditions like joint issues, hypertension, and diabetes. If any such diseases have already been diagnosed, then buying medical insurance that covers pre-existing diseases becomes mandatory.
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Top-up health insurance
It offers a vital layer of protection, ensuring continued coverage even after the sum insured by the base policy is exhausted. With its key features, it provides comprehensive support for healthcare needs.
This additional coverage acts as a financial cushion, shielding individuals and families from unexpected medical expenses beyond the limits of their primary health insurance.
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Family Floater Health Insurance Packag
Health insurance for senior citizens and their families can also be obtained. If you live with your family and want to obtain a single health insurance package that includes everyone in your family, then you must get a family floater plan. Family floater health insurance offers the well-being of an entire family under a single premium and administration.
Checklist to Tick Before Buying a Health Insurance Policy for Senior Citizens
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Maximum Entry Age
Entry age is critical for any senior citizen to consider while buying medical insurance. You must choose a policy that allows entry at even 70 years and covers health issues for the longest tenure.
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Extensive Network of Hospital
The best thing about getting treatment at a network hospital is the cashless treatment. Hence, it is strongly recommended that you opt for a cashless health insurance policy that ensures cashless treatment across a broad network of hospitals across India.
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Waiver of Co-payment
Most health insurance policies require a co-payment amount when settling a medical claim. However, you must look for a trustworthy insurance service provider that offers a co-payment waiver.
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Minimum waiting period for pre-existing conditions
As an elderly retired person, you may be required to go through medical treatment for a pre-existing condition at any time. Hence, availing health insurance for senior citizens with a minimum waiting period is highly recommended. Select a plan that covers pre-existing medical illnesses until one year after the policy is issued.
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Covers both pre- and post-hospitalisation costS
Most health insurance policies cover only the cost of hospitalisation during treatment. But what about pre- and post-hospitalisation? For seniors, initial medical tests and post-treatment care are of utmost necessity. Hence, opt for a policy that covers both pre- and post-medical expenses.
Final Thoughts
Health insurance for senior citizens is necessary for people who want comprehensive Health Security. Particularly in old age, coverage for hospital bills can protect you from unwanted financial strain and allow you to avail the best treatment.