Have you ever wondered how your parents will manage sudden hospital bills as they age above 65 years? Especially when they are struggling with such chronic conditions as hypertension and diabetes, they need long-term treatment.
With a dedicated best mediclaim policy for individuals aged above 65, they can take back control of their lives and ensure their clinical needs never become a burden to their family. Discover how purchasing health insurance for senior citizens above 65 years brings peace of mind to you and your parents.
Why Choose Health Insurance for Senior Citizens Above 65 Years?
- Avoid Dependency
Senior citizens aged above 65 years look forward to enjoying their retirement, cherishing these golden years of life, relaxing and basking in the joy of their accomplishments. However, any chronic illness can swiftly wipe out their entire yearly savings.
Having a health insurance policy gives them the confidence to access top-notch medical care and the best hospitals without being dependent on their children or needing to ask others for help.
- Prevalence of Chronic Diseases among Older
Around 21% of older Indian people are suffering from chronic diseases, such as diabetes, hypertension, lung disease, and cardiovascular disease. For example, 37% senior citizens above 75 years are affected with cardiovascular disease.
In this scenario, having health insurance for senior citizens above 65 years supports long-term, costly treatments for your parents.
- Growing Healthcare Costs
Currently, everything is becoming expensive, even hospital stays and treatment costs. The medical care cost in India unexpectedly increased by 13%, which makes medical care access more expensive. This leads to higher hospital bills and makes it difficult for elderly persons to manage emergency and routine medical needs.
- Financial Security
One of the most compelling reasons for health insurance for senior citizens above 65 years is cashless hospitalisation. During emergencies, neither you nor your parents need to worry about arranging a large amount at short notice. The insurance company settles the bill directly with the hospital and helps secure retirement funds.
With the best mediclaim policy for those aged above 65, you focus on their health and the success of their treatment.
Key Features: Highlights of Health Insurance for Senior Citizens above 65 Years
You can avail the best mediclaim policy for individuals aged above 65, with lifelong renewal and constant premium option for a 1, 2 or 3-year term.
- Sum Insured
The coverage amounts of medical insurance for parents above 65 years range from Rs. 1 lakh to Rs. 25 lakhs, available on a floater or individual basis.
- Pre-Existing Conditions Treatment
Senior citizen health insurance policies typically cover pre-existing diseases and related complications after a 12-month specified waiting period from the time of application.
- Treatment Coverage
Health insurance for senior citizens above 65 years old often encompasses expenses for modern treatments, including intravitreal injections, oral chemotherapy, and surgeries.
Coverage extends to various health conditions common among seniors, like chronic hypertension, cardiovascular disease, joint diseases, bone conditions, and cataract treatment, providing financial protection for managing these age-related health issues.
- Medical Check-ups
Medical insurance for parents above 65 years includes yearly health check-ups for each claim-free year, with specific limits. Even permits your parents to enjoy outpatient consultations up to a particular limit.
- Hospitalisation Expenses
Medical policies often cover 7% of the sum insured post-discharge and pre-hospitalisation up to 30 days before admission. The senior citizen insurance plan provides ambulance charges, room rent, operation theatre, oxygen and 50% of pacemaker charges.
Things to Consider Before Purchasing any Senior Citizen Medical Insurance
- Right Insured Amount
Sum insured is the maximum amount your health insurance company will cover for treatment expenses in a policy year. Choose a sum insured that fits your parents’ lifestyle and expected healthcare costs, as even a short hospital stay can result in high bills.
- Coverage Inclusions and Exclusions
Opt for top-notch cashless health insurance for senior citizens above 65 years that includes coverage for expenses before and after hospitalisation. However, sub-limits can affect your policy benefits, capping costs like room rent, certain treatments, or ICU fees.
Hence, you should choose plans for your parents with minimal or no sub-limits to reduce out-of-pocket expenses.
- Waiting Period for Pre-Existing Disease
You must scrutinise the waiting period for specific or pre-existing conditions before buying medical insurance for parents above 65 years.
- Annual Restoration Benefit:
Before purchasing any health insurance for senior citizens above 65 years, do not overlook checking restoration benefits. It allows replenishment of the partial or 100% sum insured if the policy amount gets exhausted during the policy period.
- Process of Settling Claims
Most health insurance for senior citizens above 65 years benefits both cashless claims and reimbursement options, adding convenience. Therefore, kindly review customer feedback on claim settlements of potential insurers and choose one known for swift claim processing.
Final Statement
For elderly persons from 60 to 75, those living with hypertension and diabetes, medical insurance plans bring assurance in uncertainties. Choose the right health insurance for senior citizens above 65 years to secure your parents’ future, where illness and age never diminish dignity or comfort.