Senior Citizen Health Insurance Plan -:
Senior Citizen Health Insurance is a medical insurance plan that provides medical coverage to individuals in the age group of 60 to 75 years. Senior Citizens Mediclaim Policy has many special benefits like, cashless hospital cover, day care expenses, cover for pre-existing diseases.
Under the regulation of IRDAI, every health insurance provider now provides coverage to individuals up to the age of 65 years. These updated guidelines allow individuals to take coverage even in the last years of their life.
However, insurance companies allow policyholders to change their insurance company if they are not happy with their current insurance provider.Now there is no dearth of insurance providers in India providing insurance facilities for older people. However, finding the right senior citizen health insurance plan is a daunting task.
Benefits of Senior Citizen Mediclaim Policy-:
Senior Citizen Mediclaim There are several types of coverage of benefits for older people. It pays for hospital admission, surgical treatment, critical illnesses, accidental injuries and pre-existing diseases, etc.
If the policy is renewed at the right time, it can provide coverage till the age of 80 years along with whole life renewal benefits.
1. Medical coverage for the elderly
2. pre-medical screening
3. cashless treatment
4. Medical treatment expenses cover
5. no claim bonus
6. tax benefit
Why you should choose Medical Insurance for Senior Citizens -:
As you get older, you are more prone to diseases. Without the backing of health cover, it will take a few days to clear your savings. To avoid doing this, health insurance is an absolute necessity. However, as we discussed earlier, there is a small problem.
Standard health insurance comes with certain limitations- maximum entry age of 65 years (generally), longer waiting period for pre-existing conditions, and sometimes a higher co-pay clause. If you are a person above the age of 66 years, need less co-pay clause, shorter waiting period and larger coverage, then senior citizen insurance is your best companion.
And before you ask, not all individuals/guardians need to go for this type of health insurance. If you are looking for a health insurance plan to cover parents and family below 45 years of age, you can consider a family floater health plan that covers the entire family under a single sum insured Will do
Things to keep in mind while buying Mediclaim Policy for Senior Citizens-:
Senior Citizen Mediclaim Policy provides health insurance to older people who are highly vulnerable to critical illnesses and require costly treatment.
1. Many health insurance plans do not cover one day treatment. Along with this, there is also a condition that it is necessary to stay in the hospital for minimum 24 hours to take Mediclaim. However, there are many modernizations to be grateful for. Nowadays, there are many methods that do not require hospitalization.
However, it is better to choose a plan that covers the maximum number of treatments for a day and includes procedures like dialysis, chemotherapy, radiotherapy.
2. Check the list of all the hospitals where cashless facility is available to you. Every health insurance company has a very wide network of hospitals within its network.
You can see which hospitals are covered under your Senior Health Citizen policy. In times of medical emergency, you can get your parents treated in one of these hospitals and everyone will go to the nearest hospital and want to avail the special treatment.
3. The claim settlement ratio and the time taken to settle the claim are two factors that need to be seriously considered. The lesser the claim settlement time is and the higher the claim settlement ratio means that the better the insurance company is doing.
4. Many insurance companies provide no-claim discount or no claim bonus if the insured files a no claim, in such cases either the premium is reduced or the sum assured in the deposit is increased .
5. Find the best health insurance that offers free medical checkups to the insured on an annual basis. It starts automatically after a certain number of years of taking the policy. At the time the policy is renewed, the checkups and tests do not affect the premium.
Top 5 Health Insurance Plan for Senior Citizens -:
In this article, we are going to talk about health insurance, which will be suitable for special senior citizens, because after reaching the age, many problems are faced in getting insurance and this article was created for special senior citizens. So that you do not have any problem and you can take a right insurance.
Comparison of different senior citizen plans -:
1. Max Bupa Senior First -: Gold & Platinum
2. Star Health -: Red Carpet Plan
3. Care Health -: Senior Citizen Plan
4. HDFC ERGO -: Optima Senior Plan
5. Aditya Birla -: Activ Care Senior Citizen Health Insurance Plan
1. Max Bupa Senior First -:
Gold & Platinum The entry age in this insurance is 61 to 75 years for both gold and platinum. In this sum assured 5 lakhs to 10 lakhs for Gold And 5, 10,15, 20 and 25 lakhs for platinum The maximum waiting period in this is 2 years.
Room eligibility :- in gold shared room In platinum single room
Co-payment :- 50% ( can be reduced to 20%)
Sub limits on specific illnesses :- No sub-limits
No claim bonus :- for gold plane :-Not available
For platinum :- 10% to 100%
Pre and post hospitalization :- 60 days and 180 days
Refill/reassure benefit :- in gold : Not available
In platinum : available
2. Star Health -: Red Carpet Plan -:
The entry age in this insurance is 60 to 75 years.
The sum assured in this is 1 to 25 lakhs
The maximum waiting period in this is 1 year.
Room eligibility :- 1% off sum insured
Co-payment :- for less then 10 lakhs – 50% for pre existing diseases and
more than 10 lakhs – 30% on all acceptable claims
Sub limits on specific illnesses :- sub-limits available
No claim bonus :- not available
Pre and post hospitalization :- 30 days and 60 days
Refill/reassure benefit :- Not available
3. Care Health -: Senior Citizen Plan -:
The entry age in this insurance is from 61 years to no limit.
The sum assured is limited to 3, 5, 7 and 10 lakhs
The maximum waiting period in this is 4 years.
Room eligibility :- 1% of sum assured on sum assured less than 5 lakhs and single room on taking more than 5 lakhs
Co-payment :- flat 20%
Sub limits on specific illnesses :- sub-limits available
No claim bonus :- 10% to 50%
Pre and post hospitalization :- 30 days and 60 days
Refill/reassure benefit :- available
4. HDFC ERGO -: Optima Senior Plan-:
The entry age in this insurance is from 61 years to no limit.
The sum assured in this is 2, 3 and 5 lakhs
The maximum waiting period in this is 3 years.
Room eligibility :- no room limit
Co-payment :- 30%
Sub limits on specific illnesses :- No sub-limits
No claim bonus :- Not available
Pre and post hospitalization :- 30 days and 60 days
Refill/reassure benefit :- Not available
5. Aditya Birla -: Active Care Senior Citizen Health Insurance Plan
The entry age in this insurance is 55 to 80 years.
The sum assured in this is 3 to 25 lakhs
The maximum waiting period in this is 2 years.
Room eligibility :- shared room
Co-payment :- classic : 20%
Premier : 10%
Specific illnesses : 20%
Sub limits on specific illnesses :- No sub-limits
No claim bonus :- 10% to 50%
Pre and post hospitalization :- 30 days and 60 days
Refill/reassure benefit :- available hoti 50% of sum insured.