Will Health Insurance Cover You in Your Old Age?
As your body grows old, your health deteriorates. Also, expenses on medicines, equipments like wheel chairs and other facilities will go up substantially during old age. An illness in old age will affect not only you but your family too, emotionally and financially. A medical health insurance exclusively for the elderly is the right answer for these situations.
What is Health Insurance
Cure for most illnesses have been found today. However, the costs of treatment for many illnesses run into lakhs of rupees. In the absence of health cover, you will end up paying huge sums of money from your own hand. A health insurance policy is the perfect life-saver tool that will protect you and your family from financial stress during any medical emergency. You will need a medical insurance policy in your old age too. The insurance cover will help you get the best medical treatment in the best facilities in the country and also lessen the burden on your children.
You can thus enjoy life even in old age till your last days. In case you missed out on taking sufficient health cover earlier, you can still go for a policy in your old age. However, as with other insurance policies, you must purchase a health policy only after comparing various policies at portals like easypolicy.com.
Health Insurance for the Elderly
There are various medical health insurance plans brought out by insurance companies exclusively for senior citizens. This is because the common health plans usually provide coverage only up to the age of 60. Most of the plans offer coverage from the age of 61 onwards. There is generally no limit on the maximum age till when you can receive insurance coverage.
Most of the benefits offered by these plans are very similar as compared to the plans for the younger. Various old age insurance benefits are:
€ Cashless Mediclaim
This facility enables you to undergo medical treatment at the best facilities in the country without worrying about the expenses, which will be taken care of by the insurance cover. The expenses may include doctor fees, cost of medical tests and medicines, room charges etc.
€ Critical Illness Coverage
Major critical illnesses such as Hypertension and Cancer are covered under health insurance plans for the aged.
€ Pre existing diseases
Pre existing diseases are also covered under most health insurance plans for the aged subject to certain terms and conditions mentioned by the insurer.
€ Pre and Post Hospitalization Care
Medical expenses you may incur for medical care before and after hospitalization will be covered by the insurance cover.
€ Day Care Expenses
Expenses that may arise from procedures such as chemotherapy, dialysis, etc. as well as emergency ambulance charges will be covered by the insurance cover.
€ Insurance Portability
Insurers generally try to avoid portability requests from the aged and elderly. However, there are insurers who provide this facility for senior citizens, though the premium will in most cases be higher than the other health insurance policies.
€ No Claim Bonus
As with other health policies, insurers may provide you a bonus if you do not claim the insurance policy in the previous year. The bonuses for the previous years can be accumulated over a period of time.
You must always have a health insurance policy in your old age. These policies ensure that you are financially secure during your final years when health issues multiply and medical costs could go really high. Most of the insurance companies in India extend medical insurance for senior citizens and have dedicated products to cater to them.
What is Health Insurance
Cure for most illnesses have been found today. However, the costs of treatment for many illnesses run into lakhs of rupees. In the absence of health cover, you will end up paying huge sums of money from your own hand. A health insurance policy is the perfect life-saver tool that will protect you and your family from financial stress during any medical emergency. You will need a medical insurance policy in your old age too. The insurance cover will help you get the best medical treatment in the best facilities in the country and also lessen the burden on your children.
You can thus enjoy life even in old age till your last days. In case you missed out on taking sufficient health cover earlier, you can still go for a policy in your old age. However, as with other insurance policies, you must purchase a health policy only after comparing various policies at portals like easypolicy.com.
Health Insurance for the Elderly
There are various medical health insurance plans brought out by insurance companies exclusively for senior citizens. This is because the common health plans usually provide coverage only up to the age of 60. Most of the plans offer coverage from the age of 61 onwards. There is generally no limit on the maximum age till when you can receive insurance coverage.
Most of the benefits offered by these plans are very similar as compared to the plans for the younger. Various old age insurance benefits are:
€ Cashless Mediclaim
This facility enables you to undergo medical treatment at the best facilities in the country without worrying about the expenses, which will be taken care of by the insurance cover. The expenses may include doctor fees, cost of medical tests and medicines, room charges etc.
€ Critical Illness Coverage
Major critical illnesses such as Hypertension and Cancer are covered under health insurance plans for the aged.
€ Pre existing diseases
Pre existing diseases are also covered under most health insurance plans for the aged subject to certain terms and conditions mentioned by the insurer.
€ Pre and Post Hospitalization Care
Medical expenses you may incur for medical care before and after hospitalization will be covered by the insurance cover.
€ Day Care Expenses
Expenses that may arise from procedures such as chemotherapy, dialysis, etc. as well as emergency ambulance charges will be covered by the insurance cover.
€ Insurance Portability
Insurers generally try to avoid portability requests from the aged and elderly. However, there are insurers who provide this facility for senior citizens, though the premium will in most cases be higher than the other health insurance policies.
€ No Claim Bonus
As with other health policies, insurers may provide you a bonus if you do not claim the insurance policy in the previous year. The bonuses for the previous years can be accumulated over a period of time.
You must always have a health insurance policy in your old age. These policies ensure that you are financially secure during your final years when health issues multiply and medical costs could go really high. Most of the insurance companies in India extend medical insurance for senior citizens and have dedicated products to cater to them.
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