Factors to consider before buying Health Insurance Plan for Senior Citizen

Although none of us enjoys seeing our parents age, ageing is a wretched and unavoidable process. They get old, retire, and rely on us to see them through their second innings. One of their main concerns is health issues or the costs associated with them.

As people age, the likelihood of developing health problems increases. At the same time, the medical expenditure for senior citizen parents is nearly four times greater.

Senior citizen health insurance coverage is among the most popular options most people choose. Your parents won’t have to spend their entire life savings on medical expenses inses f you do this. You can care for your parents while doing so without having to sacrifice your own financial security.  *

* Standard T&C Apply

This particular health insurance plan is designed to cover the high costs associated with potential health issues that may arise as people age.  There are several senior citizen health insurance scheme by Government of India that you can opt for as well. 

Factors to take into consideration:

Look for an insurance provider that provides the best health insurance for senior citizens, and their policies have a short waiting period. Before buying a senior citizen health insurance policy, take these factors into account:

A variety of medical issues are covered by various senior citizen health insurance plans. Therefore, it is essential to think about which health insurance plans cover a wider range of illnesses, occurrences, and costs:

1. Examine Policies for the critical illness benefit
   Cardiovascular conditions, paralysis, kidney failure, cancer, etc., are examples of critical illnesses. Compared to other forms of ailments, the costs associated with these illnesses’ medical care are significantly higher.
   Senior citizens are also more vulnerable to a number of serious ailments, including Alzheimer’s disease, kidney failure, and cardiovascular issues. Therefore, be sure to look for health insurance plans that cover critical illness.

2.  Select insurance policies that include domiciliary care
   If your parents are unable to leave their home for treatment, or if it may take a long time and require individualised care, geriatricians may occasionally recommend that they receive the treatment at home itself.
   Insurance companies cover costs associated with at-home treatment under the umbrella of domiciliary care. Given that older people frequently need this type of therapy, you should think about purchasing a senior citizen health insurance policy that can help cover these costs.

3. The value of psychiatric treatment
   After 60 years, older people may struggle with depression? Due to this, you should think about purchasing health insurance plans that pay for hospital stays caused by any type of mental illness.

4. Verify that the costs of AYUSH treatment are covered
   Ayurveda, Yoga, Unani, Siddha, and Homeopathy are collectively known as AYUSH. If your parents want to seek an alternate form of medication, the associated hospitalisation costs can be reimbursed under this facility. This service is mainly provided as an extra.

5. Review Pre-Existing Diseases and Their Waiting Period Coverage Policies
   Health issues that a person has been diagnosed with before purchasing a health insurance policy are referred to as pre-existing diseases in terms of insurance coverage. For instance, the insurance company may treat your father’s diabetes as a pre-existing medical condition if it is discovered before you obtain health insurance coverage. *

* Standard T&C Apply

Insurance companies typically may impose a waiting period before providing coverage for costs associated with pre-existing medical issues. Due to the increased likelihood of being hospitalised for pre-existing medical conditions, plans with the lowest waiting periods should be given special consideration while shopping for senior citizen health insurance policies. *

          * Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.