Ideal Health Insurance for Seniors

How should a person live his life after retirement? Will he continue to live life as before considering the undeniable fact that his remaining life would be spent on monthly pension or interest earned from all the life long savings in addition to unforeseen yet impossible to prevent health problems? And these health problems are certainly going to bring dependency on your children in some way or the other, provided no health insurance is purchased previously. This is certainly going to result in financial crisis hitting everyone in your house. And that is why it is most important to buy an comprehensive health cover for senior person in your family which can take cover specific health problems and waiting periods amongst many other parameters. So listed below are the qualities elder people should look for in an insurance:

1) Pre-Policy Check Up: It is advisable to buy an health insurance plan which is sold after a complete health check-up. Medical reports will ensure transparency making your claim procedure smooth and hassle-free

2) Lifelong Renewal: Many companies in India do not renew policies for senior citizens after they cross a certain age limit. So one must buy a health insurance policy that offers life long renewals for elderly people. Most important reason for doing this the increase in health problems during the ageing period and lesser resistance to face the problems which reduces the healing speed resulting in prolonged medical treatments.

3) Existing Diseases: Senior citizens should weigh this feature while choosing a health insurance policy to ensure that their waiting period is as low as possible.

4) Co-Payment Clause: It is the responsibility of elderly citizens to ask if the policy has a co-payment clause, under which the policy holder has to pay a part of the treatment cost.

5) Sum Insured: Elder people should choose an health insurance policy offering high sum insured as the cost of health insurance is rising and most importantly during this age of life health problems are more common.

6) Ambulance charges from home to hospital and back to home subject to the maximum limit