4 Myths About Senior Citizen Health Insurance in India

Health insurance policies are essential for each and every member of your family which includes you, your spouse, children, and dependent parents. These health insurance covers protect you against any medical expenses that might incur due to an emergency. You can invest in a health insurance policy in an affordable manner and avail of its benefits which come with huge coverage. It covers expenses like pre and post-hospitalization costs, daycare procedures, domiciliary expenses, and much more. 

Usually, people purchase a family floater plan which can include up to 8 members of a family. This type of plan can be ideal for a close family with the policyholder, spouse, and children included in it, but for senior citizens of the family, a separate health insurance policy should be purchased to cover their medical expenses. With the increase in age, the risk of getting contracted to a critical disorder also increases. Treatment of such diseases cannot be covered under family floater plans as it distributes a lesser amount to every individual under the plan. Therefore, you must invest in a special senior citizen health insurance policy for your parents.

4 Myths To Avoid While Purchasing A Senior Citizen Health Insurance Policy 

There are some common myths that need to be custard among the policyholders regarding the purchase of a senior citizen health insurance cover. Therefore, let us look at some of those common myths and make sure that you avoid them the next time you plan to purchase a policy for your senior citizen parents: 

1. My Parents Are Healthy And Do Not Need A Health Insurance Cover

This is a perception among many, that their parents are fit and healthy, and are less likely to get a disorder. It is natural that with an increase in age, humans become more fragile and their immunity also decreases. Also, a health insurance policy comes with a waiting period before which you cannot avail the benefits of the policy, so you need to get it early.  Therefore, without risking your old parent’s life, you must have a separate health insurance plan for them to ensure that they get quality treatment in case of an emergency. 

2. Pre-Existing Diseases Might Not Be Covered 

The health insurance policies for senior citizens generally come with a waiting period for pre-existing diseases. After this period you can avail the facilities for your pre-existing disorders. Therefore, you must carefully go through the policy documents to make sure that your pre-existing disease is a part of the inclusions. 

3. Senior Citizen Health Insurance Policies Are Expensive

The price of a senior citizen’s health insurance coverage might be a little expensive than the regular health insurance policy and that is because old people are vulnerable to contracting diseases and their cost of treatment is also higher than individuals of other age. However, the policy is not expensive in a way that it cannot be afforded. The policies by various insurers are designed in a way to meet the demands of the customers at an affordable price. 

4. Family-Floater Plans Will Cover My Parents

It is not a wise decision to keep your folks under the family floater health insurance plans or under the group health insurance plans provided by the employer, as though these policies have higher sum assured, but when distributed among different members it reduces to an amount which might not satisfy your needs in case of emergency. You will have to pay in such cases from your own pocket, which will increase the strain on your pocket thus making you financially unstable. Therefore, in order to peacefully get quality treatment, you must have a senior citizen health insurance plan for your parents. 

Conclusion 

You must do an ample amount of research on the senior citizen plans and policies provided by various insurers to make sure that your pre-existing diseases are included and the sum assured is sufficient to meet your demands. You should also go through the documents carefully to make sure that the policy is up to your satisfaction. 

Also Read: Top 5 Senior Citizen Health Insurance Plans To Buy In 2021

All About Senior Citizen Health Insurance Plans For Your Parents

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.