Why senior citizens should buy health plans with lifelong renewability options

Health insurance for senior citizens is of course very important to take care of increased medical needs at an older age. As often happens in life, when you need the health insurance service more is when it can also become more expensive.

This is why it is useful to get a health insurance policy which has a lifetime renewability clause. This entitles you to continue to receive health benefits at any age. You don’t need to qualify time and again for the health insurance policy. This gives you access to the benefits in your later years when you most need them.

This can also take care of waiting periods for some pre-existing diseases, another factor that can create greater problems as you age.

Apart from this, what are the best health insurance plans for senior citizens?

• Extent of coverage - Senior Citizen Health Insurance in India offers a range of coverage benefits. It is important to check for coverage of various heads of expenses such as hospitalization, as well as surgery and treatment for accidental injuries.
• Coverage of critical illnesses can become even more important: Since different policies cover different illnesses, it is important to check details of exactly what is covered and what is not, keeping in mind both family history of health as well as lifestyle realities.
• In coming years people are increasingly likely to look for natural remedy options since one many not want to take medication for multiple needs which could have side effects. Hence, you need to check if the Senior Citizen Health Insurance policies you are looking at cover hospitalization expenses while undergoing alternative therapies like Ayurveda, Unani, Siddha and Homeopathy.
• Sub-limits – It is not enough to check mention of coverage of a certain condition, but also the extent to which it is covered. When policies cover multiple conditions, they may limit the amount that can be spent on a particular condition
• Co pay – You must check if the policies you are looking at require a co-payment. This means that they expect the policy holder to bear part of the expenses themselves and will refund only the balance.

Apart from this, of course one must do the basics check of the policies, even as you look for health insurance for senior citizen in India, with lifelong renewability:

The set of Network Hospitals – In the long term, you may not live in the same city where you spent much of your working life. You need to review the list of network hospitals in light of not just where you are, but where you are going to

No-Claim-Bonus - Insurance providers reward elderly plan holders with extra perks like discounts ranging from 5% to 100% for the claim-free years. This means that if no claim is made in the preceding year, they get an additional sum insured.

Tax Benefits - There is tax exemption of up to INR 50,000 per financial year under Section 80D of existing IT laws. Also, an additional rebate of INR 5000 is provided for preventive health check-up per year.

Where can you find the best health insurance for senior citizens: SANA.Insure is a website through which you can find the perfect health insurance for your family, which effectively meets your coverage requirements. The portal enables you to compare multiple options for senior citizen health insurance policies. You can get detailed information and assessment of diverse policies, which are easy to understand and allow you to make prompt, well-informed decisions.

Log on to SANA.insure to choose the best plan for you and your family today!

You can get in touch over WhatsApp chat on 8278271818 or call on 1800 202 8118 to connect with a Health Insurance Expert at SANA.Insure.

Mr. Srinath Mukherji, Co-Founder of sana.insure, has over 35 years of global experience in Management and IT Consulting and as a successful entrepreneur in retail financial services, including microfinance and housing finance. He is passionate about leveraging information technology at optimal value for customer delight. He has a B. Tech from IIT Kanpur and PGDM from IIM Ahmedabad. The views expressed in this article are his own.