Entry Age and Renewability Option
The primary criterion to look at when buying health insurance for seniors is the entry age limit, and whether they provide lifetime renewability as an option. Some insurers have an age cap on entry and also allow for the policy to be renewed only up to a certain age. As you grow older, there’s a greater need for health coverage. This is why you need to be astute when purchasing a plan and ensure that it is renewable for the longest period possible.
Critical Illness Coverage
Whether you have hired a caretaker for elderly service in Chennai or live in a facility, if you come down with a critical illness, treatment can get expensive, especially if it involves hospitalisation. Ensure that the health insurance you pick covers cardiovascular diseases, kidney complications, cancer, Alzheimer’s, and other critical illnesses.
Waiting Period for Pre-Existing Conditions
Most health insurance policies have a minimum waiting period before you can claim insurance for a pre-existing health condition. For instance, if you have a heart condition, then cardiovascular coverage will only be available after a stipulated period. Since the chances of developing a complication related to a pre-existing condition is much higher, look for an insurance plan that has the shortest waiting period. You can consult a center for geriatric care in Chennai such as Alserv or wherever you live for a good recommendation.
A co-payment clause in your insurance policy outlines a portion of hospital charges that has to be borne by the insured. This is usually a percentage of the expenses and can sometimes by as high as 50%. To ensure you get the best out of your insurance coverage, look for a plan that has no or minimal co-payment requirements.
Day-Care Hospitalization Coverage
There are many instances where as a senior you may have to undergo a minor procedure that can be completed without overnight hospitalization. Many health policies insist on a minimum hospitalization period of 24 hours to reimburse claims. Look for a policy that gives you coverage for less than 24 hours too. For example, if you want home care services in Coimbatore, Chennai, or any other city after the procedure, Go Digit’s Comfort option covers this under its plan.
3 Best Health Insurance Plans for Seniors
- Edelweiss Health Insurance Plan
- Sum insured of up to Rs. 1 crore
- Lifetime renewability
- Day care treatment
- Co-payment of 20% for those aged over 60
- Critical illness coverage available
- Digit Health Insurance Plan
- Coverage of up to Rs. 3 crores
- Lifetime renewability
- Daycare procedures covered
- No age-based co-payment
- Psychiatric illnesses covered
- Home hospitalization covered in comfort option
- ManipalCigna ProHealth Insurance Plan
- Coverage of up to Rs 1 crore
- No age barrier for entry
- Day care treatments covered
- ProHealth plans cover AYUSH treatments
- Waiting period of 24 months for pre-existing conditions
Alserv is the leading provider of elder care Chennai services and also has home care services in Coimbatore and Kochi. Our trained staff and nurses can help you choose the right health insurance policy while our emergency services will take you to a hospital of your choice in case of an emergency, to ensure you get your medical expenses covered.