Choose the Best Insurance Policy for Senior Citizens

India has a deficiency of medical staff, and every day we are experiencing technological advancements in medical industry like advanced equipment, new procedures and better medicines. These factors are causing higher costs of medical treatment is sky-rocketing. Healthcare support is the fundamental right of all of us and becomes even more important for senior citizens, because advancing age means advancing health risks. Health insurance is also an important aspect of financial planning, and specially senior citizens when their income is almost negligible. Therefore, health insurance becomes the must have of all other insurance policies during retirement as nobody want to spend their old age worrying about finances, and specially the uncertain finances.

A thoughtful and health insurance plan can reduce your concerns and let you enjoy absolute peace of mind.

Help the Golden-ager feel protected with the best senior health insurance policy. Make their retirement worthwhile. In order to avoid wrong decision, take these points into account while choosing a company for health insurance:

• Senior citizens should switch to the retail policy of the insurer offering the group insurance, immediately on retirement.
• Always check if the company selling the policy is registered with IRDA or not.
• Look for hassle-free claim procedure, background, reputation, network of hospitals, etc.
• Select the premium according to your budget, avoid policies that include sub-limit clauses.
• Always check for the benefits and exclusions that contradict your interests.
• Health cover is an important consideration in choosing a health insurance policy. Senior citizens so always go for higher cover to protect their health. As with age senior citizens become more vulnerable to health related risks.

          Common feature one should look for:

1. Room, Boarding, ICU expenses
2. Nursing, Medical staff expenses
3. Fees of surgeon, consultants, specialists, anesthetist , physicians
4. Anesthesia, blood, oxygen, operation theater charges, medicines, drugs, surgical appliances, diagnostic materials, dialysis, x-ray, chemotherapy, radio therapy, cost of organs, artificial limbs and similar expenses.

• Health insurance for senior citizens comes with a co-payment clause. That is, the insured needs to share a portion of medical expenses incurred by them. Consider the co-payment clause before choosing the health insurance plan for yourself.
• Risk of illness and chances of hospitalization due to pre-existing medical condition is higher for senior citizens. Therefore, you must take the waiting period before claim under consideration.

Don’t forget to check these features and compare the senior citizens health insurance plans online before making a decision. Do your research well to avoid end minute confusion.

When you take health insurance for senior citizens with a renowned name like L&T, which is specially designed to carter the needs of the senior citizens and you also get a cover that is quite comprehensive, which gives you old age protection. You can also consult a financial or insurance advisor, to help you choose the right plan.  Make the right decision and choose the best health insurance senior citizen plan for yourself /your agreeing parents.

Enjoy the golden years of retirement to the fullest with the right health insurance policy.