What Are the Benefits of Health Insurance for Senior Citizens?

The risk of suffering from an ailment is very high for senior citizens. Therefore, health insurance becomes especially important at this age. Senior citizen health insurance policies are designed in such a way that they meet the requirements of people who are above 60 years of age.Read on to know more about the benefits of health insurance for senior citizens.

Paying for the exorbitant costs of medical treatments is not possible for everyone. Furthermore, this situation worsens for senior citizens because they are more likely to suffer from a disease or an ailment. However, in such cases, a health insurance policy can come to rescue.

Considering the health risks, many insurance companies are now providing health insurance plans to senior citizens. By purchasing health insurance, senior citizens can protect themselves from the financial burden of high medical expenses. Many experts recommend that people who are above 60 years of age should consider buying a health insurance plan. This way, they can get financial assistance in case of medical treatments.

With that in mind, here are some features and benefits of senior citizen health insurance plans-

Features of Senior Citizen Health Insurance Plans

  • Senior citizen health insurance policies are for people above 60 years of age.
  • Many plans offer high sum assured in order to meet the medical expenses.
  • These policies allow senior citizens to avail annual health check-ups.
  • A lot of health insurance policies cover pre-existing diseases.
  • Policyholders can avail cashless as well as reimbursement facility.

Benefits of Senior Citizen Health Insurance Plans

  • Cashless Hospitalisation

Insurance companies have tie-ups with various hospitals. When a policyholder is treated at a network hospital, he/she is allowed to avail the cashless facility.

If a policyholder avails the cashless facility, then the insurer directly settles the medical bills with the hospital.

  • Pre and Post Hospitalisation Cover

Apart from covering hospitalisation expenses, many insurers also cover pre and post hospitalisation costs. This is one of the most important benefits of health insurance. As per this benefit, the insurer will cover the medical expenses that are incurred before a policyholder is hospitalised and after he/she is discharged.

  • Tax Benefits

While health insurance provides cover against medical expenses, it also allows the policyholder to avail tax benefits. Policyholders are eligible for tax benefits under Section 80D.

  • Daycare Procedures

Many people think that they can file for an insurance claim only if they are hospitalised for more than 24 hours. However, that is not true. A lot of insurance companies are now providing cover to pay for treatments that can be completed in less than 24 hours.

  • Organ Donor Expenses

This is another important benefit that many health insurance policies provide. As per this benefit, insurers will cover the surgical and medical expenses of the organ donor.

Health risks tend to increase substantially as people get older. Without a health insurance policy, paying for medical expenses can get very difficult. Health insurance is one of the best ways to get financial protection against hospitalisation costs.

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