Last Updated on 22/05/2021 by Deepak Singla
Senior citizens above the age of 60 might be more susceptible to health risks than ever. That is why buying potential health insurance is significant to ensure good health and proper treatment without any financial worries.
Health insurance for senior citizens is thus a medical insurance policy that provides cashless hospitalization cover, takes care of your daycare expenses, and pre-existing disease cover. So, you can keep all your worries at bay regarding your medical expenses.
Let us uncover more about the same as we read!
What is Health Insurance for Senior Citizens?
This is a medical insurance policy that provides medical assistance to senior citizens between the age group of 65 to 75. Thus, all the senior citizens between this age group can receive medical cover for utmost convenience. As a result, they do not have to be dependent on anyone else for medical help. Their regular hospitalization fees, pre-existing disease cover and daycare expenses are borne by the health insurance company itself. So, whatever money they save for their old age can be utilized to meet other needs and demands according to their convenience.
Benefits of Senior Citizen Health Insurance
Useful Medical Coverage
Senior citizens between the age group of 60 to 75 can receive regular medical cover that includes essential health plans like pre-existing disease cover, critical illness, hospitalization charges and daycare expenses.
Senior citizens do not have to worry about investing lump sum money on their medical check-ups and other hospitalization treatment. They will all be covered by the insurance company itself. As a result, they can indulge in cashless therapy for as long as the policy allows.
No Claim Bonus
The insured gets a good discount via a no-claim bonus for all the claim-free years. Thus, the values can range between 20% to 100% depending on the insurance company’s allowance.
According to the online senior citizen’s health plan, senior citizen insurance policies also provide tax benefits that offer tax exemption under Section 80D of the IT Act.
Although most plans do not require any pre-medical screening, yet if you do, you must grab insurance that can help you enormously.
Why Should You Need It?
Meet the Rising Health Care Expenses
Healthcare expenses are rising each day. So, healthcare costs may have grown a lot more by the coming years. Buying health insurance for senior citizens can thus be highly beneficial for the same.
Critical Illness Cover
If you ever experience any critical illness like cancer, kidney failure or stroke, these insurance policies can help you cover those lump sum expenses right in the moment.
Peace of Mind
Among all the features, these insurance policies give you peace of mind by keeping all your stress about financial issues away. As they cover your medical expenses, most of your financial worries are managed.
The Bottom Line
With hands-down health insurance for senior citizens, you could save up a fortune of your income for more critical tasks in the long run. Now, you can say goodbye to all your medical expenses forever.