We will call you back.
Just share your number for a call back in less than 15 minutes
Old age comes with more chances of contracting diseases and falling sick that may cost huge medical expenses that you have to pay from your pocket. Going for medical treatment is quite distressing, especially in the advanced ages when one does not have a regular or limited source of income.
Senior citizen health plan is a customized health plan catering to the health-related needs of elderly people. Such plans are somewhat costly as compared to regular health plans basis the plan benefits, features, inclusions, etc. You have the option to buy an individual senior citizen health plan or choose an umbrella plan that covers you and your spouse if you fall in the category of senior citizens or can take for your parents as well. It is thus a wise move to buy a Senior Citizen Health Insurance Plan for the elderly people that covers expenses incurred due to unforeseen medical emergencies.Get Affordable Quotes
There are various factors listed below which will make it imperative for people aged 60 and above to buy a Senior Citizen Health Insurance Plan.
Following are some of the key buying tips you can follow to buy the Senior Citizen Health Insurance Policy.
Buy an Adequate Health Cover: When buying a plan, apart from judging its benefits, you also need to select the sum assured (health cover) that can easily cover the medical expenses and is adequate for health treatment expenses. If you are under-covered, you need to pay bills from your pocket, and if over-covered, you need to pay high premiums to get a health cover that you don't require at the current moment. So, be prudent in choosing the sum assured amount. Opt the right amount of health cover considering medical inflation, treatment and surgery costs, hospital room rents cost, your health condition, etc.
Check on the List of Illnesses Covered: You should ascertain the number of illnesses covered under the health plan. It would be a prudent decision to choose a health policy that covers a wide range of illnesses. As with advance age, the elderly person is more prone to illnesses and other kinds of treatments. The health plans also include some illnesses which are not covered under the senior citizen health plan which needs to be reviewed before buying. You can buy a plan that covers the maximum number of illnesses including critical illnesses.
Opt for Plan with Least Waiting Period: Health insurers usually put a waiting period after which you are covered for specific illnesses or medical treatments. When going to buy a senior citizen health plan, it is recommended to choose a plan that covers illnesses with a least waiting period.
Check for Co-Payment Clause Carefully: By opting for this clause, your premium amount may reduce, but you need to pay a specific percentage of the incurred medical claims. When it comes to health plans for people aged above 60 years when the chances of becoming ill are quite higher, you need to assess the co-payment clause prudently so that it does not put a huge financial burden on your pocket. When you go for the treatment of serious illnesses, you need to pay the huge amount from your pocket considering the expense to treat such illnesses.
Check for Renewal Age limit: Renewal age is the age limit up to which the insured can opt to renew his/her medical insurance policy. For example, if you have a health plan having a renewal age of 80 years, it means you would not be able to renew your health policy after this age limit. Some insurers offer lifetime renewability for the health plans. Different insurers offer different renewal age limit, so it’s recommended to check it before buying the plan.
Opt for Plan with Domiciliary Treatment Cover: With domiciliary treatment option, you can avail the medical treatment at home on the advice of the attending medical practitioner. There are stances when seniors or elderly people need emergency care and thus, it is quite essential for you to buy a senior citizen health plan covering expenses incurred in case of domiciliary treatment of the insured.
Check on Sub Limits: A Sub-limit clause under the health plan provides a monetary cap towards the amount of coverage available for health insurance claim. Usually, the sub-limits are available for room rent and certain illnesses or treatments. For example, if a cataract operation costs you Rs. 1 Lakh and you claim for the amount, the insurer will pay only Rs. 30,000 due to sub limit clause. For senior citizen health policies, it would be a right move to choose a policy that applies a nil or minimal sub limit.
Opt for Top & Super Top-up Health Plans to Enhance Coverage: Seniors are more susceptible to critical illnesses that may eat their sum assured under the health plan and it may result in paying huge medical bills from your pocket. Taking into consideration this scenario, it’s a right move to opt for top or super top-up health plans that cover the medical expenses over and above the basic sum assured at the cost effective premium cost.
Listed Network of Hospitals: You never know when seniors would require an urgent medical attention and emergency care and to address this concern, on needs to buy a senior citizen health policy that covers a broad network of hospitals having emergency care and hospitalization facilities, close to your location.
Check Claims Efficiency: It is important to know the claim settlement ratio and turn around time of settling the claim by the insurance company before buying the health policy. Also, it’s imperative to check the efficiency of the Third Party Administrator (TPA) involved. For medical emergencies, the need of the hour is the immediate financial support from the insurance company. Choose the insurance company with higher claim settlement ratio and fastest claim settlement turnaround time.
Read Fine Print: Prior to buying a policy, it is advisable to read through the policy terms & conditions and inclusions exclusions attached to the health plan. Read the policy wordings so you can easily assess whether the policy is a right fit for your medical needs.
Compare & Buy Online: It is important to compare the available senior citizen health plans in the market online to know about the key features, benefits, inclusions, exclusions, etc. and compare among the best ones. Also, online buying will enable you to compare the health plans from multiple insurers. Buying plans online will help you save some money as the online insurance products are cheaper than the offline ones. You can take an informed buying decision by choosing the best fit.
Riders with senior citizen health plan may differ from plan to plan or insurer to insurer. You have the flexibility to customize the health plan while buying.
Following are the conditions/exclusions that are not included in your Senior Citizen Health Plan.
• Pre-existing conditions: Any illness that had symptoms or received medical treatment within a stipulated period (as mentioned in the policy) of the commencement of the first policy.
• First 30 days: You can’t claim for the first 30 days from the commencement of the health policy. Accident injury claims, however, don’t require a waiting period.
• Non-allopathic treatment including.
• Medical conditions resulting from the consumption of alcohol, smoking, drugs, etc.
• Health conditions arising due to war, nuclear weapon, radiation of any kind, etc.
• Medical expenses incurred for treatment of STDs and AIDS.
• Cost of contact lenses, hearing aids, and specs.
• Convalescence, congenital external defects, intentional self-injury, general debility, expenses for diagnostic tests related to the disease for which the insured has not been hospitalized.
• Ailments such as non-infective arthritis, joint replacement, etc. are covered after completion of 2 consecutive policy years.
• Naturopathy treatment.
• Dental treatment/surgery.
(Exclusions may differ from insurer to insurer and plan to plan.)Select from Top Insurer's