Medical Insurance for Super Senior Citizens

 

Aging changes the health-related requirements of individuals. It assumes greater prominence when one crosses one’s late 60’s to become a super senior citizen. Due to their diminishing immunity, they become more vulnerable to developing illnesses or diseases.

 

Health-related risks aside, they also face financial challenges due to their limited income. Generally, they depend on others to meet their health-related expenses. Just as seniors have individual medical insurance, super seniors also have a dedicated medical insurance policy. It makes them self-reliant by offering monetary assistance in unforeseen circumstances.

 

Until a few years ago, the health insurance options for super senior citizens were limited. But at present, the situation has changed due to the entry of new players in the market. Coverage was non-existent for the hospitalization of senior citizens who belonged to the age group of 60-80 years in the past.

 

As a result, they had to either arrange for their treatment expenses on their own or depend on their children for it. But super senior medical insurance plan has transformed the situation for senior citizens. Read on to know about the different aspects of this insurance policy.

 

Imperatives of medical insurance for super senior citizens

In line with individual medical plans for the beneficiaries of other age-groups, medical insurance policy for super senior citizens also include the following aspects:

 

Copayment

It is a primary component of the health insurance policy for super seniors. Both insurer and the insured pay a certain amount of expenses in the form of a predetermined ratio.

 

Limited capping

Senior citizens belong to a vulnerable group of individuals. Keeping this in mind, private insurers provide a higher margin of capping to meet their requirements. Despite varying from one provider to the other, it ranges from 2-3 lakhs. However, it is also important to note that the increase in the capping corresponding to the sum assured also leads to a corresponding rise in the monthly premium.

 

Pre-existing clause

This is another important clause of a medical insurance policy for super senior citizens. This clause necessitates a policyholder to wait for a certain duration of time before their pre-existing illnesses come under coverage. As regards the coverage of the diseases, it is likely to vary from one provider to the other. Further, some providers do not offer coverage against certain illnesses.

 

Therefore, one needs to go through the policy documents to find out the necessary information about it.

 

Detailed medical examination

Every medical insurance policy involves some necessary medical tests or medical examinations. The rationale behind it is to find out the current physical and mental state of an individual. It becomes all the more important for super senior citizens as they are vulnerable to developing illnesses. It proves to be beneficial for both insurers and insured alike. For both parties, it helps establish clarity and set up the right expectations.

 

Final thoughts

For super senior citizens, a dedicated medical insurance policy stands by their side in the hour of need. It makes them self-reliant and gives them the confidence to live a life of dignity at the subsequent stages of their life.