Senior Citizens Health Insurance - Why it is Important?

Health complications in India due to old-age is increasing at an escalating pace. This can be challenging for a nation that harbours a considerable share of the elderly population with marginal access to quality healthcare. Thus, to meet with this rising cost of medical care calls for comprehensive financial backing in the form of health insurance for senior citizens.

Such tailor-made insurance schemes offer financial coverage to the elderly. Today, almost all of the country’s leading insurance providers offers comprehensive health insurance schemes tailor-made for senior citizens.

Reasons to buy a senior citizen health insurance plan

Considering the numerous health insurance for senior citizens available in the market, it is up to the policyholder to settle on one that offers the maximum benefits. Here the reasons why one should invest in senior citizen health insurance plan –

To gain coverage for all pre and post hospitalisation expenses, which include cost of medicines, doctor’s fees, ambulance charges and many more.
An all-round financial coverage for treatment of any pre-existing diseases (post the first year of the plan).
Enjoy tax exemptions under Section 80D of the Income Tax Act, 1961 on premiums paid of up to Rs. 60,000.
Select your choice of the sum insured and enjoy cashless medical claims.
Get financial coverage for specific expenditures such as donor expenses in cases of organ transplants.

Apart from these benefits above, health insurance for senior citizens also allows policyholders to avail critical illness cover. This provides you with financial coverage against old age related critical health issues like stroke, cancer or an organ transplant among others.

Additionally, policyholders can also avail an NCB (No Claim Bonus) during policy renewal for every claim-free year. Such features make it important to buy a senior citizen health insurance plan.

Additional Read: WHY SHOULD YOU BUY A SENIOR CITIZEN HEALTH INSURANCE PLAN?

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