Senior Citizen Health Insurance

Look for a plan that’s easy on your pocket and encompasses wide coverage without disturbing your other financial commitments. Most health insurance policies for senior citizens are designed in a way that seniors can opt for one without facing financial strain. In case you are choosing riders or add-ons the premium might increase. Try to work on a premium that offers the benefits you need.

While choosing a senior citizen medical insurance plan pay close attention to the sub-limits on specific expenses and check if you can include those in your plan by paying a suitable premium. Check for the co-payment clause in your plan, which will need you to pay a part of your expenses during a claim. Check if these terms & conditions align with your financial capabilities.

Choose a health insurance company that can boast of an extensive network of hospitals to avail cashless hospitalization in times of emergency. At HDFC ERGO we have a vast network of 12000+ network hospitals across India. Enquire about the list of network hospitals of your insurance company to know if a good hospital in your locality is on the list.

Look for a senior citizen health insurance plan that covers your pre-existing diseases or at least has a minimum waiting period to claim the same. The treatment for pre-existing diseases could be expensive and need long-term care and attention. Ensure your plan covers you for the treatment, diagnostic costs and other added expenses.

Senior citizen health insurance plans are designed to provide financial security to people over 60, as most health insurance plans have an age limit. So, check if your plan ensures renewal without age restrictions and provides long-term peace of mind. A policy that cannot be renewed, especially after 60 years, is not the right plan for a senior citizen.

Claim settlement ratio and the time taken by an insurance company to settle claims should also be taken into consideration while purchasing a senior citizen health policy. If an insurance company’s claim settlement time is less and the claim settlement ratio is high, it means that the chances of your claim getting settled quickly are higher.

As you age, your health care needs might change and you might be looking for certain benefits that aren’t covered in your plan. So while choosing a senior citizen medical insurance, make sure your plan provides the facility to switch to a new insurer without losing benefits through the portability feature.

To ensure that your senior citizen health insurance plan gives to comprehensive coverage, explore the riders and add-ons that you can include in your policy. These add-ons or riders could include certain diagnostic services, specific critical illnesses that aren’t covered in the plan, accidental cover and more. Choose these elements carefully as they can impact your premiums.

Most health insurance plans have this feature but look intently for this if you are investing in health insurance for senior citizens. If you don’t place a claim in a claim year you might get an increase in your sum insured for the next year with the same premium. The cumulative sum acts as a great financial backup for seniors and ensures smooth treatment without compromising on quality care.

In case of unfortunate situations, an elderly person’s health condition may not allow him/her to be admitted to a hospital. In such a case, senior citizen health insurance plans with domiciliary hospitalization coverage can take care of home treatment expenses as long as it has been advised by a qualified doctor.

The most suitable health insurance plan for senior citizens is the one which allows the policyholders to avail medical check-ups for free on an annual basis. This usually is offered after the completion of certain policy years or after every two/three claim-free years. This ensures that one can get medical help on time if an illness or deficiency is diagnosed early.

Health insurance for senior citizens is designed to cater to specific health problems of the elderly population. However, like other policies, this too has its exclusions. So, review the policy's exclusions to understand what is not covered. Common exclusions include cosmetic treatments, self-inflicted injuries, and treatments related to substance abuse. Knowing the exclusions helps prevent any unpleasant surprises when making a claim.

Due to technological advancement in medicine, a lot of medical procedures and surgeries can be done through daycare treatments without the need for 24-hour hospitalization to raise a claim. Hence, it is better to buy senior citizen medical insurance that covers a variety of daycare procedures like dialysis, chemotherapy, radiotherapy, etc.

While wisdom and knowledge might be at their side, senior citizens might need help with little things regarding their policy. Whether it is a renewal, settling a claim, or checking on specifics regarding their policy robust customer support is a boon for them. At HDFC ERGO we boost friendly and supportive customer support that takes every query by senior citizens with zeal and enthusiasm.