Getting a senior citizen’s Health Insurance is a must for people who are planning to retire and looking for a pension to live their future lives. Moreover, the manner in which health care cost is increasing, senior citizen health insurance is a must. Nowadays we have various organizations that define various kinds of health insurance schemes for senior citizens but the terms and d conditions vary from place to place. The plans that are designed for senior citizens cover full health expenses not only for the person but also for their spouse and children.
Factors that one needs to be aware of while going for a senior citizen health insurance are as follows:
- The Age Criteria
Health insurance schemes for senior citizens are designed for elderly people aged between 60 to 80 years. Even the maximum age for achieving a health insurance policy is quite high as compared to the conventional policies of insurance.
- Coverage of Specific Diseases
The senior citizen health insurance policy covers all the pre-existing ailments and diseases the person is suffering from. Some companies allow this coverage after one year from the date of issue of this policy.
- The Policy Form
In order to have a senior citizen’s Health Insurance, the basic step is to approach an insurance company and meet with the agent who could guide you about the features of the policy. This includes the time frame, the eligibility criteria, terms and conditions, and the cost incurred.
After filling in the form with accurate details supporting documents are also needed to be attached for cross verification. Documents required for senior citizen Health insurance usually address and ID proofs like aadhar card, voter card, PAN card, offer letters from working organization, driving licence and Bank Account Statements.
This is a mandatory requirement for availing senior citizen health insurance. However, the drawback is that the entire cost incurred is borne by the person. But, some companies do reimburse the expenses after the insurance proposal is approved.
The importance of having a senior citizen Health Insurance is immense as these policies tend to provide financial benefits offering monetary help in case of unforeseen circumstances or health-relatedemergencies.
Silver Health from Bajaj Allianz, Gold from Max Rupa, Care from Religare, Varishtha Mediclaim offered by National Insurance are some well-known senior citizen Health policies available in India.Hence, if you are a senior citizen planning to get a health insurance plan, then better not delay as you never know what may come across in life anytime.