Old age is the most difficult time in one’s life and there are several ailments which accompany you at your old age. Such ailment is expensive to treat and especially after retirement, people do not have any regular income.
In such a situation earning a huge amount of money is not possible and likewise, spending a huge amount of money is also not possible.
In such cases, health insurance for senior citizens is very essential, especially for people above 65. These days even beginners are well aware of the insurance plans, they are always looking for the best investment ideas for beginners.
Here, we will discuss the best of the insurance plans, for the old people who are worried about their future. During old age, people tend to stress more over their earned and stored money along with their investment for their future purpose.
As an old man, you might not know all about health insurance, so here we will tell you all details about health insurance. But there are also some Business Investments you need to make today for future safety. You can check them out quickly reading some of our articles.
Key Features of Health Insurance of Senior Citizen
We will mention here some of the most significant health insurance features here below. These are most beneficial for aged people, it will help them to keep their mind sorted and help you to be sorted at your old age.
- Hospitalization which includes the medical charges and the bed charges
- Cashless Hospitalization
- Ambulance Charges
- All kind of Day Care Facility
- Pre-existing disease are covered
- Medical charges for all medical tests
- The higher amount of money covered in the insurance
- Hassle-free and quick settlement
Myth About Senior Citizen Health Insurance in 2020
Many people do not actually know what comes under senior citizen insurance and what does not. Many people just simply believe in some myth that has no solid base. There are several myths that persisted surrounding the reality of Senior Citizen Insurance. Many people have some acute misconceptions about senior citizen insurance hence they do not buy the senior citizen insurance for the elderly ones at home.
Here we will discuss some of the myths which still persisted severely among the people. They are not very noteworthy but people do have such views.
People think that Group Insurance is Sufficient
This is one of the most common misconceptions and no one has ever tried to think beyond it. Many of us are pretty confident that the medi-claim that our companies offer cover everything for our parents. In reality, it does not, it does not cover everything of the old age ailments. Some companies do not even provide the mediclaim for the parents of the employee but you seem to have believed that they do. It is important not to just rely on the mediclaims of your company to cover the health insurance of your parents. You must otherwise make some investments.
Some Pre-Existing Conditions
It is very true that most of the medical claims or medical insurance do not cover most of the pre-existing ailments. This is most common in the case of senior citizen insurance, and due to this reason, many do not opt for this kind of insurance because they believe that due to such pre-existing ailments their parents might be ineligible to get the insurance successfully. But even then if you take a keen look, you will find that some of the medical insurance does cover all of these old ailments if they are not very critical ones.
Many again have other mentality about the health insurance policies, they consider it is very useless. They think that they do not cover everything, hence they are useless. Well, it is a little critical like all of the medical policies have a waiting period of almost 4 years after which most of them can be availed, it is not like today you take up the policy, and tomorrow you would be able to make the necessary payments. But there are exceptions for your parents, their hospitalization fees will be covered in the first four years itself if they have any ailment or accident.
Health insurance can be a little costly but it is really worth it. The fact that old age is a very critical time and during such times you need to be very apt with whatever you do. If you think that the senior citizen’s health insurance is very costly then there are some else too which would not pinch your pocket as much as you think. You can avail of them at a little cheaper price, it will at least ensure you some security.
Healthy and Fit
You might see that your parents are absolutely fine and there is no pre-existing ailment but that does not mean that your future is going to be very safe. It could be very risky but you need to decide how to get the insurance so that it makes a great fit for your parents. Accidents and incidents can not be predicted, they happen when they are to happen, hence you can not guess when you would require it. It is best that from now on you do what is necessary.
Things to Know While Buying Health Insurance for Parents
Many of us might have asked this question to ourselves or maybe to our friends and relatives, “How to Choose the Best Medical Insurance?” The medical policies are very critical, we do not really know what it covers and what it does not.
So in such cases, it is important that you know the pointers based on which you might choose your medical insurance.
1. Know Your Parent’s Medical History
It is good to be aware of the medical condition of your parents from before hands, you would be knowing which kind of insurance would be helpful for your parents.
2. Choosing the Correct Insurance
It is very important that you choose a plan very carefully, there are various other factors which are responsible for this purpose. It is important that you compare the facilities provided by each of the medical insurance, it will help you to choose the correct one and you will also get an idea, which plan covers what and how much.
3. Fill the Proposing Form
Once you choose one of the medical insurance, you will get a proposing form in which you will have to fill all relevant information. It is important that you do not provide any fake information in this portion of the form because it is legally inappropriate and you might land up facing some critical problems.
4. Medical Check-Up Process
Once you have filled up the form, a set of doctors go through the form and they would conduct an inquiry to enquire about the pre-existing ailments to verify whether they actually exist or not. Then the doctors will conduct some routine tests to find out if there are any other pre-medical conditions in the patients which you might have missed in the form.
After all, this is all for a safe hand of you and your parents, I am here to tell you the truth and make you realize the importance of senior citizen insurance, and then it is your duty to actually understand the necessity of the medical.