Things to Know before Purchasing Mediclaim Policy for Senior Citizens

Health care costs are elevated and getting higher day by day. Since the age of an individual increases, the health care costs increase and become a burden on the individual. If you have elderly member of your family and your parents is above 60 and still do not have any mediclaim policies, you must opt for mediclaim policy for senior citizens. Undoubtedly, above 60 is an alarming age that calls for more caution in terms of health. Since, old ages are more prone to ailments, so you should be careful regarding old ages. Digging onto the pensions and lifetime savings amounts may affect your overall lifestyle and cause a huge financial burden. If you are looking for a stress free retired life and planned health expenses, it is essential for you to opt for mediclaim policy for senior citizens

Senior citizens health insurance policy allows you to lead a stress-free life with the support of a well-planned medical routine. By opting for such mediclaim policies, you can be able to get coverage for all the possible health risks and takes care of rising medical expenses at late sixties. Buying the best mediclaim policy for senior citizens is the right way to spend the rest of the life with extreme ease. But before purchasing mediclaim policy for senior citizens you must need to consider certain things. Read this write-up to gather more knowledge onto it.

  • Maximum Renewal Age:You should select such mediclaim policies for your parents that permits maximum age limit for policy renewal. If this option is available for your senior citizen mediclaim policy, you do not have to focus on renewal in consistence manner.

  • Claim Settlement Ratio:TClaim settlement ratio is one of the most important features of health insurance policies. If your concerned health insurer has higher claim settlement ratio, then you have to understand that the insurer is doing a great job with authentic claims. So it is essential to choose such insurance company for your senior citizen mediclaim policy that offers fastest and hassle-free claim settlement

  • Network Hospitals :Before purchasing mediclaim policy for senior citizens, you have to check out network hospitals of your concerned insurer, whether they include the services that you often come across. It is also a very important factor that is to be considered if you are moving cities, as your mediclaim policy must travel along with you. Furthermore, you can enjoy the benefits of cashless facilities in all the network hospitals.

  • No-Claim Bonus: There are plenty of health insurance companies that provide no-claim bonus if no claim is lodged by the policyholder. You must opt for such insurers who are eligible to provide no-claim bonus. To get such benefits, you may have to pay a bit higher premium, but still it is better to go for this option.

  • Day Care Procedure:This is a much needed option of senior citizen mediclaim policies. Many health insurance companies do not provide such option for their policy holders. However, you need to purchase mediclaim policy for senior citizens from those who provide day care procedure or 24 hours of hospitalization coverage.

  • Pre-hospitalization and Post-hospitalization:While choosing any mediclaim policies for your parents, you should know whether the company provide pre and post hospitalization expenses. You all know that older age is too difficult and multiple health issues may occur in a year. But admitting in the hospital is not the end of treatments, there plenty of formalities before admitting the hospitals and after discharge from the hospital. You should look out for such hospital that provide pre and post hospitalization expenses.

  • Premium: Premium is the most important term of any health insurance policies. And it is a well-known fact that the premium of senior citizen mediclaim policy is very high due to the risk associated with age. Hence, it is an advised that while buying mediclaim policy for senior citizens, you must compare which insurer offers the cheapest priced insurance premium.

  • Free Medical Health Check-Up :You should search for a mediclaim policy for senior citizens that offer free health check-up. The tests and check-up have no impact on the premium during mediclaim policies renewal.

Take a Note

If you are in late sixties, you cannot underestimate the necessity of a senior citizen mediclaim policy. However, while purchasing any mediclaim policy for senior citizen, you need to focus on the above mentioned points. Apart from these, comparison will be the right step to choose the best mediclaim policy for senior citizens.