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News & Views

Wednesday, Jul 30, 2014

Proper health insurance plans essential for senior citizens

[Source : The Economic Times]

A healthy life is the aim of all human beings. An illness can bring a great change in life. No one can deny the fact that the threat of health risks increases with age. As the body grows old, it brings along new challenges in life. Health-related problems are the most expected in old age. So, senior citizens need to be taken care of, to live life peacefully.

With age comes complications and more common sicknesses among senior citizens is diabetes. It's the killer disease which attacks most of the organs. Heart disease is a common condition among seniors too, which can be a life threatening disease which should be controlled with food and exercise. Unfortunately there are no preventive methods for cancer. Overweight and obesity are also other contributors to ill health faced by senior citizens.

Influenza and pneumonia are considered the top 10 causes of death for senior citizens. With their immune system being weak due to age and also lack of nutrition, they fall victims to these sicknesses.

As it is an essential need for all, people of old age must also have a suitable insurance policy as most of them have no stable income and hospitalization will be a big burden on their finances. Under the coverage of a health cover, the person can avail of the best healthcare even in his/ her later years. A health cover enables the person to enjoy to the fullest. Old age does not mean that one should turn one's face from all the enjoyments of life. Every person has the right to enjoy every bit of life till the last stage of life. So there is no harm making arrangement for it.

Investing in a senior health insurance plan has a true significance and relevance. When people fall ill in old age, they face difficulty in seeking quality treatment due to the expensive treatment cost. A health insurance cover will make it easy for senior citizens to look after their health. With the health cover, the person can seek appropriate medical advice and the best medication.

While there are many senior citizens who have adequate mediclaim cover, a vast majority do not. To bridge this gap, general insurance companies offer medical insurance for senior citizens in India and have niche products to cater to this segment in our society. According to the new guidelines by IRDA, every health insurance provider has to offer coverage to individuals up to 65 years of age and renewability for lifetime. These new guidelines will not only help individuals get coverage at later stages of their life, but will also allow them to shift insurers in case they are not satisfied with their current health insurance provider.

There are senior citizen health insurance policies where a person can enter even at 99 years of age also. A senior citizen health insurance plan covers the hospitalization cover and the expenses include room charges, doctor fees, nursing fees, cost of medicine and drugs, and ambulance charges for transporting the insured subject to the maximum limit. There are insurers that cover major critical illness and take care of pre and post hospitalization expenses for senior citizens.

The senior citizen options offered by different insurers offer you a choice of different policies from varied insurers that take care of the total expenses of hospitalization for senior citizens. These senior citizen mediclaim policies ensure that you are financially protected during your golden years and are able to keep pace with sky-rocketing medical costs.

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