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Senior Citizen Should Have Health Insurance. Know Why

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60 is the new 40 and there isn’t any limit to achievements or enjoyment even after attaining this milestone age. However, with 60 comes a lot of health issues and the rising medical costs can put a big dent in the savings. This is where a senior citizen health insurance comes as a big relief.

Health is the most crucial part of life, and if our health is going fine, we tend to overlook this need of keeping it secure. But here are a few reasons why health insurance is of paramount importance for a senior citizen:              

Important of insurance for senior citizens

• Ever increasing medical costs

• Limited, unstable or no income after retirement

• Financial dependency on relatives or children or on you own savings which are limited

• Year-on-year decrease in resources

• Increased vulnerability to handicap and slow recovery in case of accident and illnesses

• Unexpected financial contingencies, unforeseen expenses

• Ceasing of employer’s health insurance policy post retirement

How you benefit out of senior citizen health insurance policy

• Reimbursement of hospitalization costs such as room rent, hospitalization, medical treatment, medicines etc.

• Cashless hospitalization facility at about 9000+ network hospitals across the country.

• Full coverage of day care and ambulance expenditures.

• Instant policy without any need of prior medical checkups.

• Quick and hassle-free claims settlement process.

• Full coverage against pre-existing diseases as well, but the patient must inform it while applying for the insurance and a waiting period of about 3 years should have passed.

• Coverage of daycare treatments such as dialysis and other treatments which do not require 24 hour hospitalization.

While the health insurance plan promises to secure your old age in an all encompassing wholesome way, there are certain situations under which, unfortunately you won’t be able to avail the benefits of the policy.

Senior Citizen Health Insurance Exclusions

In case the policy holder is affected by a disease within the first 30 days from the purchase of the policy.

• If the policy holder is undergoing ayurvedic or any kind of non-allopathic treatment.

• In case the policy holder has self-inflicted injuries.

• Pre-existing injuries/diseases are not covered for 3 years after the purchase of the policy.

• In case the policy holder is affected by medical condition due to prolonged alcohol or drug abuse.

• If the policy holder requires AIDS treatment, the cost will not be covered.

• Cost of spectacles/lenses or any other cosmetic treatment is not covered under insurance.

• Dental treatments are not covered barring the situation wherein an accident has caused dental injuries.

• Injuries due to a state of war or terrorism are not covered under the senior citizen health insurance plan.

Read more about Health Insurance Plans for Senior Citizen

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.