Health Insurance for Senior Citizens Above 75 Years

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Ageing is a natural process that makes you more prone to diseases and health issues with time. Besides, once someone reaches above mid-70s, their health may start to deteriorate, giving rise to several health concerns. Situations like these are usually common with senior citizens. Hence, it calls for your attention to health insurance plans. Health insurance can act as a rescuer during medical emergencies, enabling you to reach for proper medical treatments on time without any financial burden.

Therefore, to keep an appropriate backup and how health insurance for 75 years can be your financial protection, keep on reading further.

Why you need Health Insurance at 75?

The increasing cost of medical treatments due to inflation makes it even more difficult to afford adequate medical treatments for individuals in their mid-seventies. Therefore, it is crucial to consider the medical requirements of your parents as they age and opt for a suitable health insurance plan at the earliest. ACKO, a digital-first insurance company in India, can get you covered against medical emergencies. Its cheap health insurance for senior citizens offers more affordable premiums than other insurance companies available in the market.

📰📢Latest News

Historic Inclusion of Seniors Over 70 years under the AB PM-JAY Scheme

The government has extended its flagship health insurance scheme, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY), to include citizens above 70 years of age. In general, senior citizens were excluded from insurance because of the higher risk profile, but in this recent decision, it will be possible for them to enrol in the scheme, irrespective of income status. This will provide the much-needed financial relief to over six crore senior citizens, providing a family health insurance plan with a sum insured of ₹ 5 lakh. The seniors who are already enrolled under other government-sponsored health schemes will now be able to migrate to AB PM-JAY.

Is Buying Health Insurance in 75 Actually Helpful?

If you have ageing parents in their mid-70s and have not purchased health insurance, do not worry; we are there to help you. Even though getting a health insurance plan is possible and feasible at any age, it becomes a must-have when it is about mid-70s. Hence, to understand how buying health insurance for a 75-year-old is helpful, read the benefits stated below:

In most cases, the health issues in a 75-year-old individual are more than younger people. It calls for spending immense medical costs. A health insurance plan can cover such expenses for every medical treatment.
As age increases, several diseases or pre-existing conditions can lead to serious health issues. So, for a 75-year-old, you can get a comprehensive plan that seamlessly protects your finances during severe diseases and medical emergencies.
You can even enjoy some tax benefits, through which you can claim the premium amount to deduct it from your total taxable income under Section 80D of the Income Tax Act.
If you opt for a family health insurance plan for a 75-year-old, you can get your ageing parents financially covered for medical emergencies. Moreover, you can add your spouse and children to the plan.

Health Insurance Costs for 75-year-olds: How much to cover yourself and family?

How much you pay for buying health insurance will depend upon your personal details. For example your age, location, health history, family history (in case of a family-floater health plan), etc. If you want to understand your premium you can use a health insurance premium calculator.

You can select a plan with high coverage to get the maximum coverage for your expensive medical treatments without creating any financial burden on you. You can customise and integrate these plans according to your concerns than regular health insurance policies available in the market.

Therefore, when you seek high-coverage medicare for above 75-year-olds, ACKO's health insurance policies can be the ideal fit. Along with comprehensive health insurance coverage, it offers affordable premiums and zero copayment charges.

Moreover, you can get these features, including zero room rent limit and an unlimited sum insured through the ACKO Platinum Health Plan. You can choose the perfect ACKO health insurance according to your requirements, which include ACKO Standard Health Plan, ACKO Platinum Health Plan and ACKO Platinum Super Top-up Health Plan.

Factors to Consider While Getting a Health Insurance Scheme

There can be quite a few points to consider before opting for a health insurance scheme, which include the following:

Premium and Sum Insured

The most significant factor you should check is how much you must pay regularly as premiums according to your health insurance for senior citizens. Since there would be more health issues in the older age, you must ensure investing for a higher sum insured.

Claim Process

Claiming process is another significant issue to consider. You must ensure your health insurance provider has a user-friendly interface on the website or mobile application. It helps during the claiming process, which is devoid of any unnecessary complexities, making it easier to claim the sum insured during medical emergencies.

Waiting Period

The waiting period denotes the duration when you cannot claim your sum insured. It must be minimal to get hold of the medical cost at the earliest. Please note that it can even stretch to 4 years, depending on the insurance plan and provider. Hence, you must check with the insurance provider before purchasing one.

Coverage

You must remember to check the total coverage you would get from your chosen healthcare plan. You should ensure the plan offers coverage for the new age treatments and pre and post-hospitalisation expenses. Also, make sure to aim for coverage of specific illnesses or diseases.

Add on Covers

It is crucial to opt for add-on options, through which you can maximise your health insurance coverage. So you can check if the health insurance provider offers such add-ons and what additional premiums you need to pay for the same.

Why is Raising Claims Easier with ACKO Policies?

There can be various reasons why raising claims is easier with ACKO policies. Some of them are listed below:

ACKO has a personalised mobile application with an accessible interface that lets you access your accounts conveniently. Besides, our easy claiming process comes with the added advantage of zero deductions on claims.
There is no need for intermediaries, enabling you to purchase policies directly at the ACKO application. It makes ACKO a cheaper option since it reduces distribution costs, providing you with cheap health insurance for 75-year-olds.

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Wrapping It Up!

To conclude, you can not afford to miss out on purchasing health insurance for 75 years when you have ageing parents. It will not only provide financial assistance during medical emergencies but also ensure the well-being of your parents when it is needed the most. Therefore, opt for a suitable health insurance plan from ACKO today and get financial security for your parents' medication.

Frequently asked questions (FAQs)

The following are the commonly asked questions regarding health insurance for 75-year-olds:

Which insurance is best for a 75-year-old?

A high coverage plan can be the best health insurance for senior citizens above 75 years old. Since health concerns can be more common during old age, it can be beneficial considering the expenses of medical costs during this phase.

Are critical illnesses covered in health insurance in India?

You can opt for add-on coverage for critical illnesses according to the medical conditions of your ageing parents. Besides, you must consider going through the terms and conditions of the policy.

Is 50 lakh enough for health insurance for a 75-year-old?

Considering the kind of critical diseases and medical emergencies an individual of 75 years can go through, a health insurance plan of 50 lakhs could be enough. Hence, you must opt for a higher coverage health insurance plan.

Are there any tax benefits in health insurance for a 75-year-old?

Yes, there are tax deductions available for health insurance for 75-year-olds. You can claim tax deductions up to Rs. 50,000 for the premium you pay under Section 80D of the Income Tax Act, 1961.

Does a 75-year-old need 1 crore health insurance?

With the growing medical inflation in the country after the global pandemic, a 1 crore health insurance has become nothing but a necessity. Moreover, if you have parents who are over 75, there can be chances of facing health issues even more. So it is ideal to go for a 1 crore health insurance plan for a 75-year-old.

Disclaimer: The plans, services, features, processes, and other details mentioned on this page are subject to availability and changes. Please check the applicable policy wordings before making any insurance-related decisions. Feel free to reach out to us at [email protected] for any queries.