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Senior Citizen Mediclaim Policy: Why Do You Need It?
Friday, 28 May 2021

The senior citizen health insurance plan will cover the elderly from different kinds of medical expenses including pre-existing problems, critical illness and even the coronavirus pandemic. These kinds of health plans are specifically designed for people who are 60 years and above in terms of age so that they can be completely supported in terms of dealing with their old age-related medical problems. Senior citizen mediclaim policy comes with several kinds of advantages for the people and some of them include the cashless hospitalisation cover, daycare expenditures, pre-existing and disease cover and several other kinds of things. There are several kinds of guidelines being introduced by IRDAI regulations that ultimately helps in providing the insured people with several kinds of advantages in the long run and are very much successful in terms of boosting their satisfaction levels.

Senior citizens also need to have proper health insurance coverage because the health issues are very much unpredictable. Hospitalisation can be distressing both in terms of emotionally as well as financially for the people and their families which is the main reason that people need to have proper access to several kinds of reasons why these kinds of policies are very much important. Some of those reasons are mentioned as follows:

1. To meet the rising costs of healthcare: Adequate health insurance is very much important for senior citizens because the entire family has to meet the healthcare costs. With the spiralling medical expenses and hospitalisation cost purchasing the senior citizen healthcare insurance policy is very much imperative for the elderly people to help them avail themselves the best possible healthcare services in the long run without any kind of issue.
2. It will come with critical illness cover: With the age-related factor, the possibility of being diagnosed with a critical illness like heart problems, kidney problems, cancer and several other kinds of problems is also very much higher. With the help of a health insurance policy, people can get the critical illness add-on cover for all the people who are more than 60 years of age.
3. It will help in providing the annual health check-up facilities: The senior citizens can also avail the of health checkups every year because they need to undergo the medical screening regularly. So, having a comprehensive policy which also covers the annual health check-up facilities will also help in minimising the expenditures incurred on the same and will give a great boost to the satisfaction levels of the people because they will be getting the best possible value for money invested in the form of premiums into such policies.
4. It will come with proper peace of mind: Paying the hospital bills can be very much strenuous for elderly people especially in the scenario of rising treatment costs for both minor as well as major illnesses. A health insurance policy can bring a good amount of peace of mind for the senior citizens and will help the entire family in the present situations. So, having proper access to a mediclaim policy for senior citizens is very much important because of this point.
5. It will help in providing proper hospital expenditure cover: Things like hospitalisation expenditures, room charges, Dr fees, nursing fees, drugs, medicine, ICU charges, fees of a medical practitioner, surgeon consultant, anaesthesia and other facilities will be covered under this concept and will be recompensed to the people. The cost of blood anaesthesia, operation theatre and surgical appliances will also be covered under these kinds of medical policies for the people. Apart from this the organ donor expenditures and the Ayush treatment cost being undertaken into a government recognised hospital or institute will also be paid under the senior citizen mediclaim policies.
6. It comes with several kinds of tax-related benefits: Purchasing the senior citizen health insurance is also a very good idea because of several kinds of income tax-related benefits provided by it like the people will be entitled to avail the tax exemption under section 80 D of the income tax act 1961 and people will also be eligible for the income tax rebate of Rs.30,000 if they hold a medical policy for senior citizens or the elderly parents. One can also avail of the additional rebate of Rs.5000 for preventive health checkups annually and if the individuals are still earning and also paying the health insurance premium of daughter or son that they can even avail of the additional income tax rebate of 25,000. So, up to maximum people can enjoy a rebate and tax reduction of Rs.60,000 under section 80 D of the Income Tax Act 1961.
Hence, depending upon Care insurance is very much important for people to get the best health insurance plans because the company is backed by a team of experts who are very much quick in terms of providing the people with top-notch quality solutions and always come with the most affordable quotes for the senior citizen's health insurance plans so that people are highly satisfied from the whole process.
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