While growing up you seldom realize how difficult old age could be for your parents. Old age comes up with own set of problems especially medically related. When your parents get old they might suffer from some ailments, which will not only give discomfort to them, but will also be expensive to treat. Various insurance companies in the country offer medical insurance for senior citizens especially those aged more than 65 years. Most of the medical expenses that the senior citizens incur are covered under these policies.
Advantages of Medical Insurance for Senior Citizens
There are many benefits of taking a medical insurance policy for your parents. Some of them are:
- The policy will cover hospitalization expenses, which includes the room rent and the medical bills
- The hospitalization is cashless at the network hospitals
- The policy covers ambulance charges
- All day care expenses, which arise out of technological advancement are covered
- Depending on the insurer, all pre-existing diseases are covered
- There is an advantage of higher sum insured
- Most of the insurance companies might not ask for medical tests before issuing a policy
- The claim settlement is hassle-free and faster
Need of Medical Insurance for Your Parents
In today’s time and age, there is a need for buying a medical insurance for your parents. One of the main reasons is the rising medical costs in the country. Statistics show that the medical cost of treatment for any critical illness has increased at an exponential rate. People in their old age are more susceptible to have any critical illness and thus, in such stressing times, the medical costs are taken care of and you can concentrate on looking after them.
It is very common that parents stay alone in their old age as the children have work commitments in a different city or even in a different country. With the health insurance, you can be rest assured that they will get timely treatment at a network hospital.
Most of the senior citizen plans that you will buy for your parents will cover pre-existing diseases as well. Some policies have a waiting period after which they cover these diseases.
Medical Insurance Plans
Some of the popular medical insurance plans which you can buy for your parents are as follows:
Silver Health Plan by Bajaj Allianz
This plan is available for individuals between the age of 46 to 75 years after some medical tests. Under this plan, the patients get cashless hospitalization at any of the network hospitals. Also, after 4 years, Bajaj Allianz Diagnostic Centers can be used for a medical check-up.
Senior Citizen Mediclaim Policy by New India Assurance
This policy is available for individual between 60 and 80 years and if the premium is paid regularly coverage is given till 90 years. 30 days of pre-hospitalization and 60 days of post-hospitalization charges are covered. The policy covers hospitalization for any illness or injury and after 18 months of the policy all pre-existing diseases will be covered.
Senior Citizens by United India Insurance
The lesser of the actual expenses or 1% of sum insured are covered under this policy for room rent and nursing cost at the time of hospitalization.30 days of pre-hospitalization and 60 days of post-hospitalization charges are covered. The charges for anesthetist, doctor, specialist charges and surgeon charges and cost related to the procedures are covered under the policy. For procedures like hernia, cataract and hysterectomy coverage is given for the lesser of the actual cost or 25% of sum insured.
HOPE-Health of Privileged Elders by Oriental Insurance
Under this policy for an amount of 1% of sum insured the nursing expenses and room rent are covered. Ambulance charges are covered as well along with the charges for anesthetist, doctor, specialist charges and surgeon charges and cost related to the procedures. ICU charges for a limit of 2% of sum insured are covered as well.
Care Freedom by Religare
The policy covers any individual above the age of 18. There is no requirement of medical screening for this policy and it covers annual check-up for all insured. Quick and hassle-free claim settlement and cashless hospitalization are major benefits of this policy. All pre-existing diseases are covered after 2 years of this policy.
There are many plans available for your parents and you can compare them and decide the one that will suit them the most. There are many online and offline tools available for this and will help you in choosing the best policy.
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