What Is Senior Citizen Health Insurance Plan
A senior citizen health insurance, as the name suggests, is a medical policy that is specially designed for people aged above 60 years.
As people get old, they are at a higher risk of suffering from various ailments and the treatment for some diseases can be expensive. To meet the expenses and get the best medical care, it is paramount that you have a senior citizen health insurance plan. Senior citizen health insurance plans offer various benefits including cashless hospitalization, coverage against critical illness, and pre-existing disease cover.
Benefits of Buying Senior Citizen Health Insurance
Apart from providing financial protection against hospital expenses, there are many other benefits of buying senior citizen health insurance policy such as:
Ambulance charges
It is significant benefit of health insurance policy. Limit of ambulance cover varies among insurance policy. Make sure to read the policy documents to know the exact limit of ambulance cover.
Tax benefit
A lot of people invest in a health insurance policy for tax-saving purposes. The premium you pay towards the health insurance for senior citizen is subject to tax deduction under Section 80D of the Indian Income Tax Act, 1961.
Coverage for day care treatment
It is the general notion that insurance claim can be filed only after 24-hour hospitalization. However, there are many plans that also cover day care expenses.
Pre and post-hospitalization cover
Apart from reimbursing the expenses incurred while you are hospitalized, the best health insurance for senior citizens also compensates for the expenses incurred before you get hospitalized and during the recuperation after getting discharged from the hospital.
Cashless hospitalization
The insurance companies have tie-ups with a wide network of hospitals across the country. You can seek treatment from any of the hospitals that are part of the insurer’s network and get a cashless claim. In such cases, the insurer will directly settle the bill with the hospital.
IFFCO Tokio have over 7000 network hospitals across India. Find Cashless Network Hospitals in your City
What are the exclusions of senior citizen health insurance plan?
Just like any other health care policy, the senior citizen plans are subject to some exclusions. While the exclusions differ from insurer to insurer and based on the type of plan you purchase, here some general exclusions.
- There is no health insurance that offers coverage against diseases contracted in 30 days of buying the policy.
- Cosmetic or Obesity treatment
- Pregnancy-related conditions
- Injuries caused due to self-harm or suicide attempt
- Injuries suffered due to adventure sport, war, nuclear explosion, defense operations
- The treatment cost for any health condition that may occur due to drug abuse or alcohol consumption is not covered.
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1 Crore Health Insurance
★★Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before going ahead with the sales★★
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