A financial plan for taking care of your aged parents

Age is a precursor to illnesses. As the age of the person grows, it brings illnesses, which are very expensive to treat. The reason is that as age grows, complications grow inside the body, and due to wear and tear, of the various body parts, diseases start emerging. Currently, there are many insurance firms that provide health insurance plans for their senior citizens. These health insurance plans cover lots of health expenses, which are incurred by the policyholders. In India, the majority of companies provide senior citizen health insurance policies, which give policies to people who are aged more than sixty years.

Nearly, all health insurance plans provide lots of benefits to their customers, such as Cashless Hospitalizations, Daycare Expenses, Pre-existing conditions cover, No requirement for medical tests and a Higher sum insured. Considering all these benefits, it is imperative that individuals opt for a health insurance policy for themselves and for their parents, who are senior citizens. Currently, the major plans providing health insurance for parents have lots of features such as Cashless Hospitalizations, Critical Illness Cover, Cover for Diseases like Cancer, Stroke, etc. Now, let us list the major features of senior citizen health insurance policy.

Features of Senior Citizen Health Policy

All the major health insurance companies in India provide senior citizen health insurance policies. The main features of all these plans are stated below.

• Only individuals above sixty years of age are entitled to health insurance coverage under the plans for senior citizen health policies.
• Currently, the majority of senior citizen health policies don’t require any pre-screening.
• Another major feature of senior citizen health policies is that there is a free locking period of around two weeks, for reviewing the terms of the policy.
• Customers will be able to utilize a free medical checkup every year.
• The majority of senior citizen health insurance policies cover pre-existing diseases.

If there are older individuals in the family, then one must be interested to know the major advantages of purchasing health insurance plans for the family. Now, let us list out the major advantages of purchasing a senior citizen health policy.

Benefits of Senior Citizen Health Insurance Policy

The major benefits of senior citizen health insurance policies are given below.

• The settlement process for all the policies is extremely smooth and convenient.
• If the individual is admitted for more than twenty-four hours, then he/she can avail of the policy of cashless hospitalization.
• The health insurance policy consists of Room Charges, Doctor’s Fees, In-Patient Hospitalisation costs, and expenses for the physician.
• The policy will cover emergency ambulance expenses. 
• Another big benefit of acquiring a senior citizen health insurance policy is that pre and post hospitalization expenses are included.
• The diseases which exist in the body before treatment, are mentioned in the policy document.