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How useful is the health insurance policy for elderly?

How useful is the health insurance policy for elderly?

 


COVID-19 has affected people of all ages and put them in worry. Those who have recently retired, although they do not have any health problems, but are worried about the way the COVID-19 infection is spreading. A major reason for the retirees' concern is that they are not getting any health insurance at the age of 65. Is there any health insurance available for senior citizens?

 

Health insurance

 

The number of health insurance in the hierarchy of financial needs precedes that of life insurance, but most people reverse it. Considering the rapid increase in the cost of health care, nowadays youths take some basic health insurance policy immediately after joining a job or starting employment. This trend has increased in the last few years and people want to run it for a lifetime because we do not know when our health will start falling and we will have to be hospitalized. In such a situation financial help in the form of health insurance can be very useful and it can also provide relief from future health concerns.

 

Basically, any health insurance pays the policyholder the expense of hospitalization for health reasons. This requires hospitalization for at least one day due to heart attack, serious injury or any such disease or health problem, including corona infection. Different insurance companies have different terms and conditions, but one thing is the same that a health insurance policy can be availed only when you are hospitalized. In the beginning, you can take a health insurance policy of two to three lakh rupees. It is possible to have a medical examination before a policy is given, however, it depends on your age.

 

Health Insurance Policy for Senior Citizens

 

Health insurance policies have been steadily improving and many speciality health insurance policies are available today. For example, a policy related to critical illnesses, which is applicable only if the policyholder has a stroke, heart attack or any other serious illness. Special policies covering cancer and diabetes are also available. Similarly, there are special policies for senior citizens, which are only for people 60 years or older. It also costs more, as it covers the risk associated with the elderly person.

 

Some senior citizen health insurance policies come with the special facility of co-pay. In a co-pay health insurance policy, a part of the claim has to be paid to the policyholder. For example, in a 20 per cent co-pay policy, the policyholder will have to bear 20 per cent of the bill payment himself. If there is no health insurance policy, this is a good option.

 

They should explore the option of individual health insurance policy and take a policy of up to five lakh rupees for themselves. It will be a bit expensive, but they can find affordable alternatives. If it is financially burdensome or does not meet their needs, they can take a health insurance policy covering the entire family, with their parents and their wife insured in a policy is. It is called a family floater policy and since it covers all four risks, it has limitations. First, try to get a personal policy for the parents and it is not possible, and then choose the option of family floater policy.

 

Many health insurance companies offer useful health insurance for elderly such as;

 

-Bupa Healthcare

-Star health senior citizen red carpet

-Religare senior citizen health insurance premium

-Aditya Birla mediclaim

-HDFC ergo senior citizen

-Bajaj Allianz senior citizen health insurance

-Tata AIG senior citizen health insurance

-ICICI senior citizen health insurance

-SBI health insurance for senior citizens

-Chola health insurance


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