Why Senior Citizen Health Insurance is a Must-Have for Golden Years?

With age come medical ailments, it is important for senior citizens to have proper medical insurance else they have to shell out huge amounts of money from their pockets for any hospitalization. By having a health insurance, you can cover your hospital expenses, surgery, and other medical expenditures, letting you concentrate on rehabilitation than costs.

Also, some of the other advantages of having health insurance for senior citizens are cashless hospitalization, free medical tests, tax benefits, and daycare treatment. Mentioned below are some reasons why every senior citizen must avail mediclaim plan

Benefits of Senior Citizen Health Insurance plan

Comprehensive Coverage: There are many tailored plans offer coverage for age-related illnesses, including hospitalization, surgeries, and critical illnesses. Most senior citizens would suffer from some kind of pre-existing ailments that require necessary treatment, these costs can be enormous. Having a senior citizen health insurance provides a reprieve during such situation.

Pre and Post-Hospitalization Expenses: Covers expenses incurred before and after hospitalization, ensuring financial relief for ongoing procedures. These expenses can be annoying, and having a proper senior citizen health insurance plan helps you avoid them

Cashless Treatment: Avail cashless treatments at network hospitals, reducing the hassle of upfront payments if you get treatment at network hospitals. These days, most insurance plans carry all the leading hospitals. As a insurance holder, you must just ensure you pick the right hospital near to your home

No Claim Bonus: Earn a no-claim bonus for every claim-free year, there by giving you a chance to increase the sum assured every year. This is one of the most enticing features of any mediclaim health plan. You can waiver upto 50% on the premium for every non-claim years.

Free Health Check-ups: Regular health check-ups are included, allowing for early detection of diseases and the following treatment. This is very paramount, as senior citizens are more vulnerable compared to other age group.

Tax Benefits: Senior Citizen who purchase a health insurance policy are eligible for tax exemption under Section 80D of Income Tax Act of 1961. Consumers can claim exemption up to Rs. 50,000 from the premiums they pay for their coverage.

Lifelong coverage: Medical coverage for senior citizen has lifetime renewal option, meaning they can renew their coverage any time, irrespective of age. With this feature, the elderly people might get the best treatment without any worries

Peace of Mind: Without insurance, you may constantly under stress about having to spend so much for your hospital treatment. Having a senior citizen health insurance plan provides you strength that you are financially protected during any health emergency. Instead of worrying, you can focus on recovery

Conclusion

Having a senior citizen health insurance must not be an option anymore, as it guarantees financial security and peace of mind. If you are confused about which insurance plan might be the one suited to you, you can head over to Fincover.com, India’s Best Health Insurance aggregator site, which will list out plans based on your input. Additionally, we would also be glad to assist you by providing opinions from industry experts about the plan that will suit you the most.