It is said that in India a family is incomplete without the presence of the elderly. They guide the younger generation to take the right steps and achieve success based on their personal experience. They are the ones who pass on the values and traditions to the youngsters. Such an important aspect of a family should be looked after and cherished.
Being in the later years of life, their health becomes fragile and, in most cases, require special medical attention. If one is stable financially, he/she can take care of these medical expenses easily. The best way to achieve this is by buying a separate health plan specially designed for the needs of a senior citizen. In this article, we will help you with factors that you need to consider while buying medical insurance for senior citizens:
Factors to Consider while Buying Health Insurance for Senior Citizens
#1 Waiting period
A waiting period in a health insurance policy is applicable to specific diseases. It usually lasts up to 2 to 4 years depending upon the insurance company. Look for medical insurance for senior citizens with the least waiting duration. In this manner, one can raise a claim in case of a medical emergency.
#2 Coverage for Pre-existing diseases
As the name suggests, these are medical conditions that are suffered by a person before buying a health insurance policy. In case of a senior citizen, the chances of him/her suffering from a pre-existing condition are more as compared to someone of a younger ager. Therefore, it is suggested that you check the list of pre-existing diseases that are covered in a particular health insurance policy before buying it, like while buying a critical illness cover.
#3 Alternative Treatments
Traditionally, a health insurance policy would cover only allopathic treatments. However, in recent years, alternative treatments like homeopathy, Ayurveda, and other such treatments are also claimable. If a person is undergoing any such treatment, look for a health insurance policy that covers the same.
#4 A network of Hospitals for Cashless Facilities
Most health insurance company has a network of hospitals. The insurer is connected to each hospital in the network. This makes it easier for policyholders to avail cashless treatments. The benefit of this is, one does not need to worry about arranging money in case of an emergency. A major chunk of the hospital bill is directly settled by the insurance company. Another benefit is that one does not require to complete paperwork like submitting hospital bills, getting the bills stamped, etc. Thus, make sure that an insurer has a larger network of hospitals that are easily accessible by you.
#5 Ancillary services
In case of a medical emergency, hospitalization is not the one and only solution. It is important to understand the root cause of the issue to ensure proper treatment. This is where ancillary services like ambulatory services or diagnostic testing facilities like x-rays, blood tests, ultrasounds, etc. comes into the picture. The cost of these services can burn a hole in your pocket. Look for insurance especially in a critical illness cover that covers these additional costs as well.
How to Buy Health Insurance for Senior Citizens?
Buying health insurance for senior citizens is fairly easy when done online. In this way, you can not only find the best possible coverage but also discounts and offers that make the plans cheaper than offline counterparts. First analyze the requirements by keeping in mind things like pre-existing diseases, age, etc. Now compare various plans that suit these requirements. Next, visit your preferred insurance company’s website and enter the necessary details. Read the policy document thoroughly and get a medical checkup scheduled if demanded by the insurance company. Once your application is approved, the health insurance will be sent to your registered email address.
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