Health insurance plans for senior citizens in India is not a commonly available policy. It has few providers; hence, you need to be careful when selecting any plan. With the advancement in medical science almost any illness can be cured, but coping with the high cost of treatment and regularly rising inflation can be tough. So you need to make sure the plan you choose meets with all your needs.
Here are a few aspects that you need to check before investing in a senior citizen healthinsurance–
Entry Age –
Senior Citizen medical plans provide cover from the age of 60 to 80 years. So if you were not covered by the plan until you reached 60 years, you can still avail this cover. However, you need to check this with the provider as some companies follow an age limit to avail the plan. Mostly, the age limit is 69 years of age, which means once you cross 69; you are not eligible to take the policy. Also, a few providers have no maximum age limit. So these plans can be availed by people of all age group and not just senior citizens alone.
Cover for pre-existing diseases –
A very important aspect to check for is cover for pre-existing diseases. With a senior citizen health insurance plan most of the providers offer cover for pre-existing diseases after 1 or 2 years of continuing with the plan. But some providers may be an exception as they may not cover cost for treating a pre-existing critical illness, but cover the cost of hospitalization. So it is important you check the kind of coverage the policy offers in such a condition to stay away from unpleasant surprises.
Premium amount –
Normally covering the health of a senior citizen involves a lot of risk for the insurance company. Hence, many think that health insurance plans for the seniors is very expensive. Also, if you need cover for any pre-existing disease then the insurance provider will charge an extra premium to cover that particular disease. But with the options in the market, you always have the facility to compare which policy can offer you the most affordable premium cost.
Renewal Age –
You need to check the age up to which you can renew the health insurance plan for senior citizens. Ideally policies let you renew the plan till 90 years of age. However the age limit may vary from provider to provider.
Sum assured –
While availing the health insurance also check the sum assured limit you can choose. This limit differs from public providers to private insurers. If you opt for a public provider you can avail cover of up to Rs.1 or 2lakhs on the other hand private insurers let you avail a cover worth Rs.15 to 20lakhs.
When buying a senior citizen health insurance