Senior Citizen's Health Insurance - its Features & Benefits

Life is a long and thrilling journey, filled with countless moments of joy and challenges. As old age steps in, the path may become a tad bumpier, but that doesn't mean the adventure ends. This is why you need to buy something called ‘Senior Citizen’s Health Insurance’ to safeguard your well-being. It acts as a reliable co-pilot, accompanying you throughout your golden years. It shields you from unexpected health concerns, ensuring you can cherish your treasured memories without worry. Senior Citizen's Health Insurance can help you explore new horizons, embrace the joy of living and celebrate every moment, knowing that your well-being is in safe hands.

In this article, we’ll discuss and explore the key features and benefits of this Senior Citizen's Health Insurance,

What is Senior Citizen’s Health Insurance?

Senior Citizen’s Health Insurance in India is specifically designed for people aged 60 years and above. As you grow older, your health needs may require more attention and a regular health insurance plan might not be enough to cover all the expenses. This calls for a separate health insurance policy that is tailored to your specific health requirements. This ensures that you are well-protected and financially supported throughout your golden years.

Senior Citizen's Health Insurance Benefits -

This health insurance comes with significant benefits for senior citizen in India including - 1️.Cashless Claim Facility -
The cashless claim option ensures that the insurance company covers a significant portion of the hospitalisation expenses. This means that you and your families don't need to be concerned about arranging funds for treatment when you go to a network hospital. You can simply avail of the cashless claim facility and receive the required medical care without financial stress.

2️.Daycare Procedures
- Senior citizens’ health insurance plans include coverage for daycare procedures. Daycare procedures are medical treatments or procedures that can be completed within 24 hours.

3️.Lifetime Renewability
- While certain health insurance plans restrict you from renewing the policy after a specific age, most insurance companies offer the option of lifetime renewability for senior citizen’s health insurance. This means you can keep your coverage without worrying about age limitations.

4️.Cumulative Bonus
- The cumulative bonus is a benefit that boosts your sum insured when you don't make any claims. In other words, for every year you don’t file a claim, you get a cumulative bonus. By having this feature in your senior citizen’s health insurance plan, your sum insured will increase every time you don't file a claim. Note: The sum insured will only increase up to the limit stated in the policy schedule.

5️.Pre- and Post-Hospitalisation Cover
- Besides providing coverage for hospitalisation, senior citizen’s health insurance plans take care of pre- and post-hospitalisation expenses like consultations, diagnostic tests, etc as well. Such coverage is essential to ensure complete and proper care before and after a medical procedure, making them a crucial feature of the policy.

6️.Higher Entry Age
- Health insurance plans for senior citizens are designed to provide medical coverage specifically for elderly individuals. This means that these plans allow for a higher entry age, enabling you to purchase a policy even after you have retired.

7.Health Check-up
- As you step into the retirement phase, there is a higher chance of contracting age-related ailments. To address these issues promptly, early detection becomes essential. Senior citizen’s health insurance plan often includes a preventive health check-up feature that ensures timely diagnosis of such ailments.

8️.Ambulance Cover
Senior citizen’s health insurance plans include coverage for emergency ambulance services. This ensures that you receive prompt and safe transportation to the hospital during medical emergencies.

9️.Senior Citizen Health Insurance Tax Benefits#
- By choosing to buy health insurance for senior citizens, you will be able to enjoy tax deductions on the premiums paid. This financial relief is made possible under Section 80D of the Income Tax Act of 1961.

To conclude,

Senior Citizen Health Insurance in India offers essential coverage tailored to meet the unique healthcare needs of old age. With access to additional benefits such as cashless claims, preventative health checkup cover, etc. these plans allow you to make the most of your health insurance coverage. By safeguarding your well-being, you thus can enjoy your golden years with confidence and security.