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Table of Content
1. What Is Senior Citizen Health Insurance?
2. Benefits of Senior Citizen Health Policies
3. What Is Regular Health Insurance?
4. Benefits of Regular Health Insurance
5. Senior Citizen Health InsuranceVersus Regular Health Insurance
6. Senior Citizen Health Insuranceor Regular Health Insurance – What Should I Choose?
For many people, turning 60 brings exciting new opportunities. Once people retire, they have enough time to pursue a new hobby or travel the world. But as age catches up, many individuals also face chronic health issues. Failing health can cost senior citizens more than a few thousand every year. Thankfully, most seniors safeguard their finances with senior citizen health insurance policies. Selecting the best health insurance for senior citizens can be confusing. Here’s a look at some crucial details policyholders must know:
Senior citizen health plans provide those above the age of 60 with cover for various medical expenses. Given that these individuals are above a certain age, these plans also offer coverage for pre-existing and critical illnesses without minimal to zero waiting periods. Essentially, the health policy is customised to help older people deal with the costs of their declining health.
Regular health plans, on the other hand, do not provide any special allowances for senior citizens. But, they offer policyholders the same or similar benefits to senior citizen plans. One vital difference between a regular and senior citizen health insurance policy is the waiting period for pre-existing illnesses. Regular policies might have a waiting period of up to 48 months for these issues. Senior citizen policies have a significantly shorter waiting period of just one or two months.
Both policies come with advantages and drawbacks. Let’s take a look at how the two compare:
If you’re purchasing health insurance for senior citizens in India, a regular health insurance policy might be better. On the whole, regular plans offer comprehensive cover without the worry of mandatory co-pay. You have to do a little research to find the best health insurance for senior citizens. The best way to go about getting health insurance is to purchase a comprehensive plan when you’re younger. Make sure the policy offers lifetime renewals so that you can continue to get the coverage you need under the same plan even when you’re a senior citizen.
We help you to make informed insurance decisions for a lifetime.