Turning 60 can bring with it several exciting opportunities. You can have time to travel or pursue a new hobby. However, with time, you could also face multiple chronic health conditions. In addition, the rising costs can result in a single disease becoming quite costly and draining your savings.
Thankfully, you can safeguard your finances and enjoy peace of mind with a Senior Citizen Health Insurance Policy. So, if you are wondering how this Medical Insurance differs from other Insurance Plans, this article can be helpful.
What is Senior Citizen Health Insurance?
Senior Citizen Health Insurance is a kind of Health Insurance Policy that covers the healthcare needs and medical expenses of senior citizens. Such plans offer complete protection to individuals of 60 years and above. They also provide several benefits and protect your finances regardless of what comes your way.
Benefits of Senior Citizen Health Insurance
In general, buying Health Insurance can be beneficial. However, for senior citizens, a Medical Insurance policy that caters to their needs can be a saviour. In addition, such a policy also offers the following advantages:
· Freedom during difficult times
When you have a Medical Insurance Policy as a senior citizen, you can enjoy your freedom even during difficult times. You can access the best treatments without having to rely on the help of others during such times.
· Cashless hospitalisation
When faced with a health emergency, managing huge funds at the last moment is difficult. However, when you have Insurance, you can be admitted to a network hospital. As a result, you need not worry about how to pay for things.
· Protection of savings
Substantial medical bills can deplete your savings. However, having a Senior Citizen Health Insurance Policy can protect your retirement funds. In addition, you can easily use an online Health Insurance Calculator to determine the premium amount and compare different plans.
· Tax deduction
The premium you pay for your policy qualifies for tax deductions under the current tax laws in the country.
Coverage offered by Senior Citizen Health Insurance
Your Insurance provider may offer various options when you are choosing a policy. Each may provide varied benefits. However, the coverage you could expect includes the following:
· Pre- and post-hospitalisation expenses
· Cost of ambulance
· Expenses involved in mental health treatments
· Hospital expenses, including the cost of rent, doctor’s consultation charges, and more.
· Costs incurred due to AYUSH treatments
Conclusion
A Senior Citizen Health Insurance Policy provides broad coverage and ensures several benefits for people 60 years and above. Today, Insurance providers also offer several such plans. You can go through them and pick a Mediclaim Policy that matches your needs. However, when doing so, select the right sum assured, determine the network hospitals, and look at other important factors to make the most of your policy.
