Health Insurance 594 views August 22, 2019

Senior Citizen Health Insurance in India

As a person who has been independent all his life, you would continue to live life on your own terms even after you retire. You should be financially independent and not have to rely on your children at any point in time. Thankfully, the modern-day insurance plans allow you to do so with ease. You can invest in a retirement life insurance plan early on in life and secure your finances. You can also invest in a good health insurance policy and keep your health protected during the twilight years of your life too. Read on to know more.

Key Benefits of Buying Health Insurance Plan for Senior Citizens in India

Let us begin by seeing why it is important for a senior citizen to have his healthcare requirements insured:-

Health is fragile

Health conditions begin to deteriorate as you age. You can, therefore, expect certain healthcare conditions to crop up when as you blow out more and more candles on your birthday cakes. This is why you need good health insurance cover to stay protected if there is any requirement at any time. Remember to declare your existing health conditions when buying the plan to get the best health insurance coverage possible.

Treatment is expensive

Health care costs in India are very high. You may not be able to afford the most expensive treatment without the assistance of a health insurance plan. Illnesses will still come, so you need a medical insurance cover to pay the bills at the time of an emergency. In the absence of sufficient health insurance coverage, you may have to settle for treatment at a sub-standard hospital. This is not what you want, so buy a good medical insurance cover and get a lot of mental peace along with it!

Income is limited

You have now retired and your income is perhaps limited to your pension. You cannot risk exhausting all of your life’s savings when a serious illness strikes. To prevent such a thing from happening, you need a senior health insurance policy so that you can afford the treatment within your limited resources as well.

Employer health policy is not available

You may have depended on your employer-provided health insurance coverage all your life. But if you are retired and no longer an employee of the company, your group health insurance coverage has also been withdrawn. You thus need to buy health insurance for yourself to stay covered in a wholesome manner.

Dependency is never ideal

As mentioned above, the independent person in you can never bear the thought of having to depend on your children for your wellness. You do not have to do so if you simply get a good medical insurance policy for yourself. Healthcare is one of the most significant expenses of old age. If you have insurance coverage, you can take care of it on your own, without having to depend on anyone else.

These are some of the most vital reasons why you need to get a good senior health insurance plan for yourself. Compare insurance quotes online and choose from the many options available to you.

Different Types of Health Insurance Plans for Senior Citizen India

You can choose from various types of health insurance plans as a senior citizen. Some of your options include:-

Senior health insurance

There are certain senior health insurance plans that are specially designed for the people above the age of 60. They are easy to procure and offer affordable health care services to you.  

Individual health insurance

You can get an individual health insurance plan for yourself. Check with the different health insurance companies, as not everyone allows a person over 60 years to buy a new plan. There are some companies that do and you can get good medical insurance cover from them.

Family health insurance

The health insurance plans for a family are good for senior citizens too. Check the maximum entry age before you buy this type of a health insurance cover.

Critical illness insurance

You could also consider getting a critical illness insurance policy. If you get affected by a specific critical illness like a heart attack or a stroke, your insurance provider will pay a lump sum amount to you. You can use the money in any way you wish and get yourself treated properly.

Do not buy the first plan that you come across. Do your research, assess your requirements, make a budget and choose the most suitable health insurance cover accordingly.

Final Words About Senior Citizen Health Insurance in India

As you can clearly see from the points mentioned above, there is no substitute for getting good health insurance coverage for yourself, especially if you are at al older age. You have a few options, so choose wisely the best possible medical insurance coverage. Once that is done, you will be able to live life freely and enjoy every moment.

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