Health Insurances 196 views
Today, the maximum age of people has increased from 55 years to 70 years on an average. The old age comes with various health issues such as obesity, diabetes, and other chronic and critical health conditions. This prevailing health issues increase the requirement of health insurance. The medical treatments are getting costlier day-by-day and not in the reach of common man. This increased cost of medical facilities and at times create huge burden on your pocket and you lose your savings and funds to save your loved ones from critical illness.
Therefore, it becomes necessity to buy a health insurance to save more money and at the same time feeling safe and secured. There are many companies which offer various tailor-made health insurance offering extensive coverage by paying very much affordable health insurance premiums. Here are some important points one should consider before buying the health insurance.
Entry age in policy: This is one of the most crucial factor to consider while buying the senior citizen health insurance plan. All the features and benefits will go in waste if your parents are not able to claim the benefits because of the advanced age. There are various government-owned insurance companies offering such plans with higher entry age between 60-80 years. Besides, there are insurance providers that do not put any constraint on the maximum entry age.
Sum insured: As you grow older, your body gets vulnerable to various chronic diseases. Therefore, it is important that you should consider the required sum assured and buy the policy accordingly. Select a policy with sufficient health cover to tackle the increasing medical cost involved in the treatment of such critical ailments.
Coverage: Coverage is another factor that you should consider while selecting a plan. Always select a health insurance policy that will cover a broad range of illness including critical ailment. The best policy will offer you cover for most of the illness and treatments and the exclusion is at minimal level.
Covering pre-existing medical condition: Take attention to the time mentioned in your health insurance policy regarding the inclusion of pre-defined medical conditions. If the company is giving you a minimum inclusion time for pre-existing diseases, it is an important point to consider while buying. But, if the waiting period is more than two years or three year it is not worth buying. Most of the time you face health issues due to pre-existing health issues.
Check the hospital network and facilities: If you are buying the health insurance for your parents or senior persons of your family always ensure that the policy offers you a wide coverage of hospitals in your neighbourhood and nearby area. So, in case if you face any emergency you can reach to hospital easily without wasting much time. Also, take care about the hospitals that are well equipped to tackle any emergency while providing the cashless settlement.
Premium amount: The premium amount is another thing you should also consider while buying the health insurance for senior citizens. The premiums for the senior citizen health insurance plan higher than regular plans. There are some points, which can further increase the premium amount such as the family history, overall health condition and lifestyle of family members. You might also have to face the additional amount if you are already facing any health issue. Thus, it is really important to compare the premium amount of the health insurance policy from different insurance provides to get the best deal at affordable premiums.
Co-payment clause: A co-payment is the part of the claim amount that you have to pay before the insurance company compensates for the remaining amount. Generally, all senior citizen health insurance plans have this inbuilt clause and it varies from company to company.