Mediclaim for Senior Citizen

With the ever-rising healthcare costs, Senior Citizen MediclaimPolicy for the elderly is a wise idea. Generally, the entry age for senior citizen health insurance is 61 years and many insurance providers limit the entry age to 69 years. Thus, sooner you get a Mediclaim policy, better the benefits would be. The chances of the policy getting rejected would also be less. After a two-year waiting period, cover for pre-existing diseases will also be offered.

The cover for alternative medical treatment methods like Ayurveda and Homeopathy can be added to the policy plan as add-ons. The premium of senior citizen Mediclaim is generally high since the entry age is high and the premium amount varies according to the pre-existing disease. Some companies offer life-long cover for senior citizens while others may not require medical tests until the age of 69, based on some terms and conditions.

Myths about Senior Citizen Health Insurance:

Group insurance is sufficient:

This is a very common misconception many people have about health insurance. Many believe that the Mediclaim group insurance offered by the company will provide enough cover for their parents. Many employees have been rationalizing the cover in order to reduce the steep premium and some of them have taken a step further to exclude parents from the policy. It is very important to not rely on just Mediclaim policies to offer health cover to your parents.

 Pre-existing conditions:

It is true that most of the health insurance policies do not cover pre-existing ailments, especially when it senior citizens. Because of this very reason, many shy away from opting for a health insurance policy as they are under the impression that a pre-existing ailment might make their parents ineligible for a health insurance policy. But a lot of health insurance policies still offer cover if the ailment is not critical or terminal.

Insufficient coverage:

Many consider health insurance policies to be useless as they do not offer cover for certain existing conditions. While this is true, almost all of the health insurance policies have a waiting period of four years after which existing diseases are covered. But your parents will still be covered for hospitalization charges in the first four years for other ailments and accidents.

Higher cost:

It is true that health insurance can be slightly more expensive for senior citizens but that should not discourage one from purchasing a health insurance policies. There are many senior citizen healthinsurance policies in the market that won’t pinch your pocket and offer adequate health cover to your parents.

Healthy and fit:

Though your parents might be in their best shape and have no existing ailments, unforeseen circumstances such as age related ailment or a certain illness can hamper their health any time. It is very important to have health insurance for your parents even if they are fit and healthy.