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Health Insurance Premium Calculator for Senior Citizens & How It Works ?

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Health Insurance is a shield that keeps your finances protected against rising medical expenses. Each day medical care costs keep rising due to advancement in medical science. To cope up with the rising medical expenses, you either have to dig onto your savings or settle for inferior quality of medical treatment. To keep you away from financial imbalances, health insurance policies act as a friend for life. Every health insurance has a premium amount attached to it; a premium is calculated depending upon several factors.

One of the most common and important factor is Age of the insurer. Your age talks a lot about your fitness and probability of diseases; hence age becomes a crucial factor for calculating premium. If you are between the age bracket of 25-35 years your premium would be less as compared to someone who is above 70 years. Ironically, your health insurance premium is the highest when you need it the most. Being a senior citizen, if you are retired it might get tedious to pay for hospital bills often, hence buying a health insurance plan will protect your finances and ensure quality medical attention.

Let’s understand how Health insurance premium calculator for senior citizens works?

Health insurance premium calculator for senior citizens is dependent on two major factors viz, age and pre-existing illness. Higher the age, higher the premium is a common factor for deciding the premium, however pre-existing diseases may also affect the premium amount. Many times insurer opt for co-payment, wherein the insurer pays a certain percentage of medical expenses and rest is borne by the insurance company. This can also affect the premium calculation for senior citizen.

Buying a health cover or medical insurance in India for senior citizens can be done effortlessly. Look for policy that offers lifetime renewability, so that you can renew your policy for your entire life. Additionally, there should not be any entry or exit age restrictions to make the policy easy and effortless for senior citizen to sign up for.

The best key to get health insurance at an affordable premium is to buy it at an early stage of life. This will help in getting rid of the waiting periods and also attract lower premium. 

To know more about our Health Insurance For Senior Citizens CLICK HERE