WE CARE - we have strived to see the world through our clients' eyes. We are simply there for you - through good times and bad.
Senior Citizen Health Insurance
Live Worry Free in your Old Age
You've finally attained retirement from work. You wish to travel the world or learn Piano or Scuba Diving.
Did you know that hospitalisation expenses can take a severe toll on your retirement corpus? Saenior Citizens, because of their age, are more prone to ailments and diseases. In addition, their hospital stays are also more likely to be of longer duration. What this means is their hospital bills are also likely to be higher.
If you do not have a Health Insurance Policy which will cover such hospitalisation expenses, then you are putting yourself at grave risk. It is a wise choice to be prepared for any eventuality.
A Senior Citizen Health Insurance Plan might be the answer that you were always looking for.
What is a Senior Citizen Health Insurance Policy?
Senior Citizen Health Insurance is a Health Insurance Policy specifically designed for Senior Citizens above the age of 60 years. Senior Citizen Health Insurance Plans pay for the hospitalisation expenses of the Insured Person on account of Ailments, Accidents, Injuries etc.
Health Insurance is a must for Senior People as they are at a greater risk of getting hospitalised from various ailments.
Why should I purchase a Senior Citizen Health Insurance Policy?
Unfortunately, a large number of people do not have a Health Insurance Policy to cover their medical expenses today. Healthcare Expenses are increasing at a rate of more than 10% per annum today.
With rising life expectancy, the need for a Health Insurance Policy to cover medical expenses is much greater during the later years as one's income drops because of retirement while medical expenses increase.
Healthcare Costs during later years might be a big drain on one's finances. However, many Senior Citizens are likely to get rejected from purchasing a regular Health Insurance Policy on account of some existing diseases/ailments.
In such a case, purchasing a Senior Citizen Health Insurance Policy to protect from rising healthcare costs is a good choice.
What are the restrictions in a Senior Citizen Health Insurance Policy?
A Senior Citizen Health Insurance Policy is likely to have a lot of restrictions compared to a Standard Health Insurance Policy considering the higher risk nature of Senior Citizens.
Some of the restrictions are as follows:
Some Senior Citizen Health Insurance plan might have a Co-Payment clause which mandates that the Insured bear a portion of the expenses. For example, A Co-Payment clause of 20% implies that the Insured Person would have to bear 20% of the hospital expenses.
Room Rent Capping:
Some Senior Citizen Health Insurance Plans have Room Rent Capping Clause. For example, Room Rent Capping of 1% on Room Rent means that the Insurance Policy with a Sum Insured of Rs3 lakhs will pay only Rs3000/day towards Room Rent Charges. Any Room Rent Charges over and above Rs3000 would have to be borne by the Insured.
Waiting Period on Pre-Existing Diseases:
Pre-Existing Diseases mean Diseases that already existed before the start of the Insurance Policy. Most Senior Citizen Health Insurance Plans would have a Waiting Period before they cover Pre-Existing Diseases. Typically, the Waiting Period ranges between 36 months to 48 months.
What are the features of a Senior Citizen Health Insurance Policy?
Pre and Post-Hospitalisation Expenses:
Most Senior Citizen Health Insurance Plans will cover Pre and Post-Hospitalisation expenses incurred in relation to the illness/injury for which the Insured Person was hospitalised.
Insured Members can avail Cashless Settlement of Claims at Network Hospitals.
Some Senior Citizen Health Insurance Plans will cover expenses related to Domiciliary Treatment ie. Treatment Expenses incurred at home in case hospitalisation is not possible.
Coverage for Day Care Procedures:
Most Senior Citizen Health Insurance plans will have a list of Day Care procedures whose expenses will be reimbursed.
What are the exclusions under a Senior Citizen Health Insurance Policy?
The Common Exclusions under a Senior Citizen Health Insurance Plans are as listed below:
Exclusions under a Senior Citizen Health Insurance Policy
Cosmetic Treatments: Expenses incurred towards Cosmetic Treatments, Plastic Surgeries won't be normally reimbursed by Senior Citizen Health Insurance Plans
Infertility Treatments: Expenses incurred towards infertility treatments, plastic surgeries are not reimbursed by senior citizen health insurance plans.
Pre-Existing Diseases would not be covered before the end of the Waiting Period
24/7 Claims Assistance
Low Waiting Periods for Pre Existing Diseases
Get a Free Quote
Get a FREE Quote for Senior Citizen Health Insurance Policy!
A Senior Citizen Health Insurance policy will take care of your medical expenses in the later stages of life when the need for medical care is the greatest. These medical expenses can be substantial precisely at the time when your income is not at its peak.
A Senior Citizen Health Insurance plan will ensure that you can avail of the best treatments without worrying about hospital bills.
Confused about which Senior Citizen Health Insurance Policy to buy? Don’t worry. Simply give us a call and avail a FREE Consultation where we will recommend the best Insurance Policy suited to your needs. You can reach us at firstname.lastname@example.org or at 022-22044989 or fill this Contact Form. We will get back to you within 24 hours, guaranteed.
Most Insurance Companies won’t provide Health Insurance Policies to Citizens above 80 years. Even the Maximum Entry age for most Senior Citizen Health Insurance Plans ranges from 65 Years to 70 years of age.
Yes, Medical Tests are required to obtain a Senior Citizen Health Insurance Policy.
Most Senior Citizen Health Insurance Policies will have a Waiting Period for Pre-Existing Diseases ranging from 12 months to 48 months