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Why Health Insurance for Senior Citizens is Necessary?

By Kapoor

It hardly needs to be mentioned that healthcare costs are at an all-time high in today’s times. As we age, the rise in the healthcare costs often turns out to be burdensome, especially in the post-retirement years. Senior citizens fret about spending each penny, as they have to shell out money from their hard-earned savings in order to cater to medical expenses. In such a scenario, health insurance can come to their rescue. However, senior citizens mostly find it difficult to select a good health insurance plan, as the plans are either too expensive or it requires extensive medical tests which they find difficult to go through. These days, many beneficial plans for health insurance for senior citizens are available which provide them an array of options to choose from.

How to choose a Health Insurance Plan?

The premium amount should not be the sole criteria when choosing a healthcare plan. Factors such as critical care, hospitalization expenses and the number of network hospitals covered by the policy should be taken into consideration. It is a good idea to pay a higher premium if it could provide you an adequate coverage. The insured sum should be a higher amount as the medical expenses are constantly on the rise. In fact, each year, there is approximately 15% inflation in the healthcare industry. The medical insurance policy should have a low waiting period for illnesses which comes under the pre-defined time frame. With a lifelong renewable health plan, it will be safeguarded that you are covered with health insurance for as long as you need.

Health Insurance for senior Citizen

Are you looking for the best medical insurance for senior citizens plans? You can try the Bajaj Finserv Health Insurance scheme. This comprehensive health insurance has options ranging from Rs. 2 lakhs to Rs. 50 lakhs. It also offers the benefit of cashless settlement, i.e. you do not need to pay any amount while hospitalized for treatment across wide network of hospitals. It includes coverages like, ambulance fees, 130 daycare procedures, medical expenses incurred during organ transplant, etc. Further, Bajaj Allianz’s Silver Health Plan for senior citizens offers facilities like, in-house Health Claim Administration Team, Cashless facility, global expertise, quick disbursement of claims, and so on.

There are several other health insurance plans available and you should compare all the features and benefits before choosing one for your needs. Health insurance gives greater peace of mind to senior citizens. It keeps you safeguarded from financial worries related to the cost of sudden hospitalization and medical treatments. As a result, family members and senior citizens themselves should always strive to get health insurance plans which are suitable and offer them comprehensive coverage. One should check factors like the diseases and critical ailments covered, cashless network of hospitals and premium amounts payable before choosing health insurance plans. Read all terms and conditions carefully before choosing any health insurance plan for yourself or your parents and other senior relatives.
Many of you can also consider buying family health plans for your parents or your spouse as there are several companies which offer a discount percentage on such plans. The importance of family health plans can never be undermined as they safeguard your family against illnesses and the skyrocketing medical costs.

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