60 plus insurance
Senior citizens run the risk of critical illnesses and with it can come unexpected expenses. Be wise. Enrol your parents under an insurance scheme that will keep them covered in case of a hospitalization.
Medical insurance is a must for elderly living in today’s world. In terms of definition, a medical insurance policy that offers medical coverage to individuals between the age group of 60 and 75 years qualifies as insurance for senior citizens. It is a simple contract between the insurer and the policyholder that typically covers the following expenses:
However, the premium amount for a senior citizen insurance policy is much higher than health policies meant for a younger individual as the risk factor that contributes to the premium amount is extremely high. As in all insurance policies, the premium is paid to the insurance company by the policyholder (either as a lump sum or as instalments for a multi-year policy) and the medical expenses incurred by the policyholder covered by the terms of the policy are paid for by the insurance company.
There are a couple of reasons why we strongly recommend every senior citizen enrol under a medical insurance plan:
Hike in critical illnesses
Cancer was a ‘not so prevalent’ disease a few years ago. However today, sadly it has become very common. And anyone who has had to take care of an elderly parent battling cancer knows the humongous cost associated with it. - an activity that is financially draining. Such life-threatening diseases are termed as critical illnesses by insurance companies and can be covered under a critical illness plan. However, it is imperative to read all the terms and conditions carefully before purchasing any such critical illness plan for senior citizens.
Rising medical expenses
There is a rise in illnesses and also an advancement in medical technology that helps in treatment and cure of these illnesses. However, this breakthrough technology comes at a cost and this must be borne eventually by patients that reap its benefits. Therefore it is wise to plan for such contingencies by purchasing medical insurance that will eventually provide financial relief.
As you think through this process, remember that age plays a key role in determining the health insurance premium for medical insurance plans. Remember, the cost of health insurance for senior citizens rises as a person‘s age increases. Thus, it is prudent to opt for medical insurance for senior citizens at an early stage to save money on premium.
Online Health Insurance
Procuring insurance for senior citizens always seems like a cumbersome affair. Today we have the option to complete this process online and this is a hassle-free way of insuring senior citizens. Contrary to the traditional method, you do not have to fill lengthy forms. We at 60plusindia.com can assist you with decisions regarding the plan you are interested in. You can make your own decisions regarding the plan you want and if you have any doubts regarding the process, you can simply call us up and get clarity before purchasing the policy.
Remember - Nothing can stop aging since its a natural phenomenon and the human body becomes susceptible to all kinds of illnesses as it ages. Be wise, take charge of your parent’s health and exercise choice of insurance for senior citizens at the earliest. Contact us today.
*Terms and conditions apply.
