Old age may bring with it numerous ailments and health conditions. You may need to secure enormous funds for such unexpected life events. The treatment of these medical ailments is not only expensive but also long-term. A senior citizen mediclaim policy can act as a boon that can help older people receive quality healthcare services and treatment without any financial stress.
In this article, let us understand what is and why is it critical to buy senior citizen mediclaim policy these days.
What is Senior Citizen Mediclaim Policy?
Senior citizen mediclaim policy is a type of health insurance that helps meet the healthcare needs of older people above the age of 60 years. It provides preventive healthcare facilities and cashless hospitalization at the network hospitals of the insurance company.
A senior citizen mediclaim policy comes with extensive benefits such as annual health check-ups, daycare treatment, in-patient care, and tax benefits.
Why Buy Senior Citizen Mediclaim Policy?
The cost of healthcare is rapidly increasing every year due to medical inflation. Also, emergency hospitalization of parents or grandparents can be emotionally and financially distressing. The right senior citizen mediclaim policy can help you manage the financial implications of medical emergencies.
Here are some of the reasons why it is critical to buy a senior citizen mediclaim policy: –
- Rising Healthcare Costs
Healthcare costs and hospitalization are always on the rise. A senior citizen mediclaim policy can ensure that any unexpected medical emergency does not impact your finances. Therefore, buying this policy can be in your best interest.
- Critical Illness Cover
A senior citizen mediclaim policy can help you avail of treatment for critical illnesses. These critical diseasesmay include heart ailments, stroke, cancer, etc. This policy can save you enormous costs associated with the treatment of these diseases.
- Annual Health Check-Ups
Most senior citizen mediclaim policies offer health check-ups on a yearly basis. This benefit can reduce your out-of-pocket expenses as senior citizens have to go for medical screening on a regular basis.
- Daycare Treatments
Older people may have to visit hospitals many times due to their health conditions. This policy offers an extensive number of daycare treatments that require less than 24 hours of hospitalization.
- Pre-existing Diseases
Pre-existing illnesses and health problems may need concerning medical treatment. A senior citizen medicalim policy can cover your pre-existing illnesses subject to the terms and conditions of the policy.
- Peace Of Mind
Paying for large sums of medical bills can be financially distressing. And major illnesses combined with hospitalization charges can increase medical expenses significantly. A senior citizen medical policy can bring peace of mind in such situations.
Benefits of Senior Citizen Mediclaim Policy
Here are some of the key benefits provided under the senior citizen mediclaim policy: –
- Comprehensive Coverage- The senior citizen mediclaim policy offers comprehensive protection against rising healthcare costs and provides quality medical facilities.
- Pre-Medical Screening- Unlike other policies, senior citizens do not need to undergo medical screening before buying the senior citizen mediclaim policy.
- Cashless Claims- You can avail of cashless claims for the medical expenses and hospitalization charges at the network hospitals.
- No Claim Bonus- Under this policy, you can avail of discounts on policy renewal premium after every claim-free year.
- Lifetime Renewability- Most senior citizen mediclaim policies offer a lifetime renewability option.
- Tax Benefits- Under section 80D of the Income Tax Act of India, you can avail the benefit of tax deductions on the premium paid for this policy.
It is essential to go through the policy documents before buying them. You must check the inclusions, sum insured, exclusion, and the waiting period. With so many options available in the market, choosing one out of many that best suits your requirements can be confusing. You can consider buying a senior citizen mediclaim policy from a trusted brand like Care Health Insurance. They offer this policy with affordable premiums and extensive benefits.