Best Health Insurance policies for above 60 years age: Premium, Features, Benefits Explained
Best Health Insurance policies for above 60 years age: Premium, Features, Benefits Explained
Published on April 12, 2021. EST READ TIME: 3 minutes
![Best Health Insurance policies for above 60 years age: Premium, Features, Benefits Explained Best Health Insurance policies for above 60 years age: Premium, Features, Benefits Explained](/images/default-source/default-album/ergo-image-resize_april-2021_17.jpg)
With vaccines rolling out, the element of fear and anxiety has certainly decreased among the citizens. However, youngsters still remain concerned for their parents and grandparents. When the Covid-19 outbreak began, most people started working remotely and this gave them the time to look after the senior citizens at home, who were more vulnerable to infection. But now as offices are opening up, they are hoping that vaccines and prevention will keep the elderly safe even in their absence. While one must hope for the best, one should also prepare for the worst. Taking medical insurance that specifically covers the needs of senior citizens is one way to go about it.
1. Features of Senior Citizen Health Insurance
A senior citizen health insurance policy offers financial coverage for healthcare to the policyholders who are above 60 years of age. It not only helps with expenses, but also supports peace of mind.
Ayush Benefits: Some senior citizens may be more comfortable with alternative treatments like Ayurveda, Siddha, Homeopathy, etc. Many insurers offer Ayush benefits under their senior citizen health insurance policies. This benefit covers expenses incurred due to hospitalisation, and medical treatment with any of the alternative treatments.
Higher Assured Sum: Senior citizens are susceptible to many health issues due to their age. Therefore, the sum insured by senior citizen health insurance policies offers a much higher assured sum. The premium amount depends on the sum insured, but it is definitely worth it to cover future medical risks.
COVID-19 Protection: The pandemic has brought many changes in different industries and the insurance industry also adapted to it. Now, you can enjoy a financial cushion against hospitalisation and treatment bills for COVID-19. But it is advisable to check with your insurer about it before selecting a senior citizen health insurance policy.
Cashless Medical Treatment: This is a very convenient feature that benefits senior citizens greatly. They can avail cashless medical treatment and avoid the hassle of reimbursing the amount later. Many insurers offer cashless medical treatment at their network hospitals with their senior citizen health insurance policies.
Protection against Medical Inflation Rates: Senior citizens are more prone to age-related health issues than younger people. And with rising medical inflation, it will be a pain to pay the treatment costs. A senior citizen health insurance policy will take care of all the costs while you concentrate on your health.
2. Things To Consider Before Buying Senior Citizen Health Insurance Policies
Before you select a senior citizen health insurance for parents, it is always a great idea to consider some crucial things like:
Maximum Age of Entry: Different insurers have different criteria for maximum age of entry in case of senior citizen health insurance. Some companies allow senior citizens of up to 70 years of age, while some companies don’t have any caps on age.
Lifetime Renewal Offer: Similar to the maximum age of entry criteria, some insurers will allow the renewal of policies up to a certain age only. So, before you purchase any senior citizen health insurance policy, ensure that you can renew it every year for a longer duration.
Pre-Existing Illness Cover: Many senior citizens suffer from age-related health issues and other problems such as cardiac issues before getting health insurance. These are called pre-existing health issues. Before you purchase the policy, read the terms and conditions properly to know if pre-existing health conditions are covered.
Maximum Sum Insured: As we age, health issues can become severe and hence, their treatments can be expensive. Therefore, it is wise to get senior citizen health insurance cover that offers a huge assured sum. Do thorough research and go for the one that offers a good sum insured.
What Premiums Do You Have To Pay?
The premium increases with age and medical conditions. So, the premium amount of senior citizen policies will be higher than the standard policies. Before buying, you should compare the policies and while comparing do not look out for lower premiums. Rather go for the one that provides maximum benefits and comprehensive coverage.
Conclusion
Health issues increase with age. After the age of 60, you will want to lead a stress-free life, but ailments come unplanned and we should be prepared to tackle any medical emergency. That’s when senior citizen health insurance policy comes to your rescue. It will take away your financial worries and lets you have peace of mind.
Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.
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