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Whether you yourself are over 60, or you’re looking to take care of your ageing parents, a health insurance plan is a necessity these days. In these situations, you can opt for specialized health insurance for senior citizens.
As a person grows older, the chances of health risks are more likely to increase. Which means that they will need more care for illnesses, injuries, and other medical conditions. But unfortunately, there are many misconceptions involved with buying a senior citizen health insurance policy that prevents people from buying them.
Here are some of the myths and misconceptions about senior health insurance, and the reality behind them:
As a senior citizen, you may feel fit and healthy, or if your parents might seem that way to you. Some people feel that if they aren’t healthy, there’s no need for health insurance. But this is a short-sighted view. Health insurance will help provide financial security in case of a health emergency.
Then they will be covered for medical expenses in case of illnesses, hospitalization, daycare procedures, and even get annual health check-ups and coverage for home hospitalization.
Lots of people, especially those who are older and have built up some savings, believe that they don’t need to invest in a health insurance plan as these savings can help them in times of need.
And since health problems are usually unpredictable, you don’t want to be burdened with financial problems and debts, especially not while you are recovering from an illness.
A family floater health insurance is one that covers many members of the same family (including your spouse, children, and parents) under one policy. However, this also means that all the family members share the same fixed sum insured amount. This means that if something happens to more than one family member at the same time, a single sum insured may not be enough.
While your parents can be covered under the group health insurance plans provided by your employer, the situation here is similar to a family floater plan. The benefit here is that senior citizen parents will not have to go through pre-medical check-ups before being insured.
As we get older, we face a higher chance of mortality, hospitalization, and medical expenses. Due to this increased risk, health insurance premiums are likely to rise as well. So, you might notice that health insurance for senior citizens have premiums that are on the higher side.
A common misconception about health insurance, especially for senior citizens, is the belief that their pre-existing illness will not be covered under the plan. And because of this, many people avoid buying health insurance.
Now that you know the truth about these common myths about senior health insurance, you will be able to make a more informed decision when you start looking at policies. You also know that the need for senior health insurance is great, to ensure that you or your parents are covered against medical emergencies at all times.
When choosing a suitable senior citizen health insurance plan, just remember to check its inclusions and exclusions, waiting periods, and other benefits like add-ons or cashless hospitals, as well as the premium and co-payment. This way you will be able to find the policy that best suits your needs.
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Disclaimer #1: *Customer can choose options at the time of availing insurance. Premium amount may vary accordingly. Insured is required to disclose any pre-existing condition or on going treatment before policy issuance in the proposal form.
Disclaimer #2: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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