Your guide to buying a senior citizen plan

 

When you are born, your parents nurture you. From taking care of your health, to your food, your schooling and higher education -- they aren't told what they have to do for their child. Most importantly, they do it alongside securing their own future -- buying insurances, investing in short-term or long-term plans etc. However, there are times when amidst the chaos of life, they might have skipped to keep in check their own life. That is when you as a child should step in and ensure the well being of your parents by buying them a senior citizen health plan. What mainly this plan consists of is a coverage for your parents when they are old.

The need

Senior citizens, over the age of 65 years, are prone to illnesses. Sometimes, the illness can eat up all your savings of a lifetime. It is during these tough scenarios, a health plan exclusively designed for the senior citizens can help you toddle over the burden.

The basics and benefits

A senior citizen health plan mainly helps you bear the cost of healthcare expenses born during the treatment of the insured person. Some benefits of this plan are:

• Get higher insured benefit
• Free annual medical-checkups
• Tax deductions on premiums
• Often, cashless hospitalisation -- both pre and post hospitalisation phases
• Quick settlement of claims

How to choose the right plan

For insuring your loved ones, it is important to do a thorough check of plans before deciding on it. Here are some pointers to guide you:

• Know the medical history of the person you are getting insured. You should not buy a plan that doesn't suit the requirements of a person. Eg: If a person needs critical illness insurance, choose that over a simple health insurance plan as the person is prone to critical illness more.
• Compare all plans before you decide on what to select and how. Don't go by just the premium payments but choose what gives best overall coverage. Look for age, coverage of illnesses, and the network of hospitals under the insurance plan, payment etc.
• Do give proper correct information about the person to be insured as any wrong detail might invalidate the insurance and put you in trouble.

HDFC Life has a plethora of plans to choose from for the senior citizens of your family. Don't limit the insurance to a mere tax saving ingredient. Rather, get your loved ones insured for a stress-free and peaceful health treatment.