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Find Out Why Senior Citizen Health Insurance is Better than a Regular Health Plan

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Published on November 12, 2021. EST READ TIME: 3 minutes

Everyone wants to enjoy the golden years of their life.The post-retirement phase is when you get the time and leisure to do all those things you haven’t been able to do till date. However, being a senior citizen also means that you need to prepare for healthcare issues which tend to crop up unexpectedly. And since the cost of healthcare is rising every day, you need health insurance to keep your savings safe in case of a medical emergency. Remember that your employer’s insurance will not cover you anymore. But the question is, which plan should you take? If you are confused between a regular plan and a senior citizen health insurance policy, read on to know which one will suit your needs better.

Need of health insurance for senior citizens

You need health insurance at every stage of life with varying degrees of coverage. Apart from the fact that as a senior citizen, you are more vulnerable to a host of diseases and more likely to file a claim request, health insurance will allow you to avail the best medical care available. In absence of a health plan, all your savings can get used up in footing medical bills during an emergency. And that means additional financial stress. However, having senior citizen health insurance policy will help you focus on only getting better.

Regular or senior citizen health insurance?

As the name suggests, one is a regular plan meant for people from all age groups, while the other has been designed keeping the specific health needs of the elderly. Most senior citizens have many pre-existing diseases which can aggravate anytime, and therefore, not many insurers want to take the risk of offering regular plans to those above 60. However, if the insurer is willing, compare the benefits and the premium. Sometimes, the premium for senior citizen health insurance might be low because of clauses like co-payment and room rent capping. Similarly, regular plans may not cover specific diseases. So, it’s important to do some research before taking the plan.

Benefits of senior citizen health insurance

1. Hospitalisation expenses:

All your pre-hospitalisation expenses up to 60 days of admission, including consultation fee and post-discharge expenses till 180 days, will get covered along with the expenses incurred during the hospitalisation.

2. Cashless hospitalisation:

You get cashless treatment with this plan. If you go for an insurer like HDFC ERGO, which has a huge network of hospitals, you will be able to easily find a quality healthcare facility in your vicinity.

3. Day-care cost:

Day-care procedures require less than 24 hours of hospital stay. That is covered under this plan.

4. Ambulance charges:

You get reimbursed for ambulance charges within the same city and even for Air Ambulance in case of an emergency. Read the policy wording to gain clarity about the terms and conditions though.

5. Pre-existing diseases:

The policy has a waiting period on pre-existing disease, so go for the shortest period possible.

6. Tax benefit:

You can get a tax rebate under Section 80D of the Income Tax Act.

7. Pre-medical check-up:

It makes provisions for routine medical check-ups. It keeps a track of your health and wellness. HDFC ERGO, for example, offers a plan without the need of much documentation.

8. Medical coverage for the elderly:

HDFC ERGO has no restrictions on hospital expenses including room rent, doctor fees, and medicine costs.

And with no cap on entry and exit date and the option of lifetime renewability, a senior citizen health insurance will help you stay financially secure.

Conclusion

As a senior citizen,while you must take care of your fitness regime and diet to stay healthy, you should also stay prepared for eventualities with a health insurance policy that looks after all your needs. You can truly enjoy life when you have the peace of mind you need.

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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