Articles

Some simple steps to find the best health insurance for senior citizens

by Sujoy Bose Tax Manager

The importance of having a mediclaim policy cannot be stressed more in this days and age of rising medical costs. And, mediclaim policy is even more useful for elderly people than younger folks. As the age increases, the chance of getting the best health insurance at a cheap premium decreases. After 45 years of age most health insurance companies mandate medical tests and after 60 years of age the options for mediclaim policy becomes few and far between.

Therefore, it is better to get the best health insurance with lifetime renewal option at an early age. You can renew your mediclaim policy and stay protected throughout your life and more importantly, you can steer clear of undesired features like co-pay, sub-limits while paying claims and sky-high premiums. But what if you want a mediclaim policy for your senior citizen parents who don’t have any health insurance in India as yet? You have to opt for a mediclaim policy specially designed for senior citizens. Senior citizen health insurance is the best health insurance in India for elderly people. Here are some tips to get the best health insurance for your elderly parents.

Select mediclaim policy with best features 

Best health insurance plans for senior citizens come with an array of beneficial features and you should look to find one of those health insurance policies for your parents. You chosen mediclaim policy should be devoid of disadvantageous features like co-pay, room rent sub-limits. Best health insurance in India for senior citizens comes with life-long renewal option and wide coverage that includes OPD treatments, domiciliary treatment and pay out ambulance charges.

Look for lenient guidelines about pre-existing diseases

Many health insurance companies shun from providing health insurance policies to senior citizens with pre-existing illnesses. Some insurers offer senior citizen online health insurance with strict waiting period for pre-existing conditions. You need to look out for the ebst health insurance plan with shortest waiting period for your parents.

Choose coverage amount wisely

You should be on the hunt for a mediclaim policy with higher coverage as the chance of falling sick and using up the Sum Insured is lot higher during advanced age. You need to find out the best health insurance that comes with Sum Insured enhancement option on renewal of mediclaim policy. You can also consider health insurance top-up plans. You have to spend less on your mediclaim policy and you can avail better coverage in return.

Many people make the mistake of including their senior citizen parents in the family floater health insurance plans. It is a wrong practice as the premium of family floater health insurance plans is based on the age of the senior most people included in the coverage. You have to pay very high premium on your mediclaim policy if you make this mistake. You should rather buy them a separate senior citizen mediclaim policy as this is the best health insurance in India for elderly people. And, you have to pay lesser premium on your mediclaim policy as well.

About Sujoy Bose Advanced   Tax Manager

55 connections, 1 recommendations, 175 honor points.
Joined APSense since, August 17th, 2017, From Delhi, India.

Created on Jun 25th 2018 08:34. Viewed 99 times.

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