Senior citizen health insurance plan is a vital requirement, specifically when a person is planning for his or her retirement and start living on the pension or the interest income from the savings. An unexpected emergency can develop a financial crisis. In order to avoid this possibility, it is crucial to get involved with a complete citizen Mediclaim Policy. Such health insurance policies are available for those persons, who are belonged to the age group of between 65 years and 80 years of age.
Quick Bima provides an array of the policies belonged to senior citizen health insurance at the affordable premiums. You will get a comparison of various Quotes or premium along with the guaranteed lowest premium. You can purchase Senior Citizen Health Insurance Plan Online as well.
As per the IRDA’s new guidelines, all the health insurance providers must offer coverage to individuals, up to the age of 65 years. Such kind of new guidelines will significantly help people getting coverage at the later phases of life. They are also allowed in shifting coverage if they are unsatisfied with their present provider of senior citizen health insurance. There are various insurance providers available for aged people. Nevertheless, the crucial point is to select the appropriate one.
Therefore, it is important to make a complete comparison of various health insurance Mediclaim Policy involved with the senior citizen. With the help of online comparison, one can easily find and select the appropriate, best, and perfect insurance plan. Such type of comparison is important to provide an idea about one’s best-suited policy.
General insurance companies (IRDA approved) provide Mediclaim for senior citizen in India and are associated with niche products for catering to this section in this society. In India, the senior citizens’ Mediclaim Policy provides assurance that they are financially protected in times of their golden years along with that, they are capable of keeping pace with the medical costs.
The assured quantity of sum is usually lesser for the public insurance companies that serve Rs. 1 to Rs. 2 lakhs of policies. One can get a cover of Rs. 15 lakhs to Rs. 20 lakhs from the private insurance companies; however, the premiums will be higher and they might demand to make the co-payments.
Co-payments command that the pre-defined percentage associated with the claim amount is going to be bored by the respective policyholder and the insurer will settle the remaining sum (it is a standard clause along with various group health insurance plans). An insurance policy with a co-payment clause might be affordable; however, it might not give you a full coverage.
A number of insurance companies provide senior citizen Mediclaim Policy for the aged parents involving with an age group between 60 to 80 years. Some companies have provided the restriction in the policyholder’s age – to the age of 69 years only.
If an insured senior citizen is experiencing any pre-existing illness, then the particular disease is going to be covered through the specific insurance company following the completion of the interval of one year or two years involved with the particular policy. Some of the companies do not provide the coverage for such pre-existing illnesses; therefore, it is a smarter idea to make a proper analysis before the purchase.
Definitely, in this particular case, the insured will be comparatively older; therefore, it is important to purchase a plan involving a low waiting period.
It is referred to a period in which the respective policyholder is permitted to close their specific insurance contract, in case if they do not provide consent for the policy's terms and conditions or if they do not want to continue with that particular policy, without providing the penalty along with the with surrender charges. Policyholders can utilize this specific option within 15 days of receiving the particular policy documents.
Two most vital considering factors are Claim settlement ratio and claim settlement time. The claim settlement time is faster and the claim settlement ratio is higher – signify the particular insurer is performing a great task with honest and authentic claims.
Many health insurance policies do not provide the coverage for Day-care methods. For making a Mediclaim, hospitalisation is compulsory for at least 24 hours of duration. That is why it will be better to select a particular plan providing the coverage for the highest count of day-care methods.
You should properly go through the catalogue consisting network hospitals nearby you also verify whether they have included the common services.
Many insurance companies offer a no-claim bonus or a no-claim discount if the policyholder lodged no claim. In this scenario, either the insured sum increases or the premium decreases or both.
You should also check the advantages of Senior Citizen Mediclaim Policy along with the Senior Citizen Health Insurance Exclusions. You should not forget to check the procedure of claiming the Mediclaim for Senior Citizen and Tax Benefits of Senior Citizen Health Insurance.
Quick Bima always helps you in saving your money and time by providing an easy and quick comparison of policies.