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Individuals over the age of 60 years are known collectively, as senior citizens. These citizens have worked hard all their lives and contributed to the development of the nation and the community. Though generally ignored and sometimes shunned by the younger community, there is much to be learned from them. Senior citizens need to be cared for and the society and nation owes them a decent life in their old age. Keeping these sentiments, the Indian Government has introduced several benefits through its various schemes for senior citizens. One amongst them includes health insurance. Health insurance is aimed at protecting an individual against unforeseen expenditure due to medical emergencies. In the case of senior citizens, it is essential they be insured under a health insurance policy as health gets fragile with age. Senior citizen health insurance is a necessity, especially when you are planning to retire and live on pension or interest income from savings. A sudden medical emergency can result in a financial crisis. To avoid this, it is prudent to take a comprehensive senior citizen health insurance policy. According to the new guidelines, every health insurance provider has to offer coverage to individuals up to the age of 65. These new guidelines will not only help individuals get coverage at later stages of their life but will also allow them to shift insurance companies in case they are not satisfied with their current health insurance provider. These senior citizen health insurance policies are meant for people aged the ages of 65 and 80. Some health insurance policies cover Hospitalization and Domiciliary Hospitalization Expenses as well as expenses for treatment of Critical Illness, if opted for. The Critical Illnesses covered are Coronary Artery Surgery, Cancer, Renal Failure and Stroke. The senior citizen health insurance policy can be renewed up to the age of 90. A senior citizen health insurance plan covers hospitalization, day care expenses, medical expenses and ambulance charges. Hospitalization covers are expenses incurred as a patient after admission of more than 24 hrs. The expenses include room charges, doctor fees, nursing fees and cost of medicine and drugs. Day care expenses arising from use of special equipments or procedures like chemotherapy, dialysis is covered under health insurance policies. Medical expenses prior and post of hospitalization, the number of days will vary across insurers. Ambulance charges for transporting the insured are subject to maximum limit. Pre existing diseases are also covered subject to terms and conditions of the insurer. Senior citizen health insurance comparison can be done online by comparing plans offering medical insurance for senior citizens in India. ________________________________________________________________________________________________________
Pranav Sharma is an insurance agent based in Mumbai; Pranav assists individuals and corporates in purchasing the right Health Insurance & often shares his insights about the general insurance industry on internet.
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