Senior Citizen Health Insurance 

Importance of Senior Citizen Health Insurance for the Elderly

Health concerns naturally increase as we age, making health insurance for senior citizens a must-have. Here's why investing in the best health insurance for senior citizens in India is so crucial:

• Peace of Mind with Cashless Hospitalisation

  One of the most significant advantages of medical insurance for senior citizens is the option for cashless hospitalisation. This means you don't have to worry about upfront payments during emergencies. Choose a network hospital, and the insurance company pays the bills directly.

• Coverage for Critical Illness

  Health insurance for senior citizens often includes coverage for severe illnesses like cancer, heart attacks, and strokes. This means financial support when needed, helping cover the high treatment costs and giving you one less thing to worry about.

• Annual Health Check-ups and Pre-Existing Conditions

  The best health insurance for senior citizens in India often includes annual health check-ups. These check-ups can catch potential health issues early, preventing more significant problems. Many plans cover pre-existing conditions after a waiting period, ensuring continuous care for ongoing health issues.

• Ambulance Cover

  Ambulance services can be expensive during medical emergencies. The best health insurance for senior citizens usually covers these costs, providing both emergency and non-emergency ambulance services. This ensures timely medical care without the added stress of arranging transportation funds.
  
  Investing in health insurance for senior citizens is about more than managing medical costs; it’s about ensuring peace of mind and a healthier, happier life.

Why Senior Citizen Health Insurance?

The golden years of your life are when you want to sit back and enjoy retirement. However, a single illness can drain out your savings during this time. A senior citizen health insurance plan can protect against such losses. The coverage you get offers peace of mind with the assurance that your finances stay protected entirely no matter what comes your way. More importantly, having a health insurance plan can give you the confidence to reach for the best medical care independently without asking anyone for a helping hand.

Benefits of Senior Citizen Health Insurance

Here's how senior citizen health insurance can be your saviour:-

• Financial Protection:Heavy medical bills and prolonged treatments can deplete your retirement funds. A senior citizen health insurance plan can protect your savings, allowing you to use it for other expenses you may face.
• Cashless Hospitalization: It is difficult to arrange large sums of money at the last minute during a medical emergency. With a senior citizen health insurance plan, you can simply get admitted to a cashless network hospital without worrying about how you will pay for things.
• Independence:One of the most significant benefits of having health insurance as a senior citizen is that the coverage keeps you independent during difficult times. You do not need to rely on anyone for help; you can access the best treatment independently.
• Tax Benefits:The premiums you pay for your senior citizen health insurance policy qualify for tax deductions under prevailing tax laws.

What is Covered in Senior Citizen Health Insurance?

A health insurance plan for senior citizens offers complete coverage to help you take care of hefty medical bills. Here’s a quick look at the coverage that you can expect from Senior Citizen Health Insurance Plan by SBI General Insurance:

• Hospitalisation expenses, including room rent, doctor’s consultation charges, ICU, etc.
• Pre- and post-hospitalisation expenses
• Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy (AYUSH) treatment costs
• Mental health treatments
• Hospitalisation as well as pre-and post-hospitalisation expenses incurred by organ donor
• Internal congenital diseases
• Ambulance charges

What is Not Covered in Senior Citizen Health Insurance?

Here are some standard exclusions in senior citizen health insurance:

• Medical treatments are done outside the geographical limits of the policy, i.e. outside India
• Injuries or treatments required due to nuclear material/activity and war or war-like situations
• Hospital admission done solely for rehabilitation, rest, or investigation
• Expenses for cosmetic surgery, plastic surgery or change of gender surgery
• Treatments arising from situations involving breach of law
• Infertility and sterility
• Refractive law
• Claims for unproven treatments

This list of inclusions and exclusions is indicative. For a full list, please refer to your policy wordings.

How to File a Claim with SBI General Insurance?

SBI General Insurance offers a cashless facility at a wide range of network hospitals, so you don’t have to worry about arranging funds while receiving medical treatment. You can simply provide details of your senior citizen's medical insurance policy to the TPA at the hospital, and they will handle the rest.

Alternatively, you can also opt to pay your bills and later claim reimbursement. Filing a reimbursement health insurance claim is now simpler than ever. You can call us on 1800 210 3366 / 1800 210 6366. You may also reach out to us over email at sbig.health@sbigeneral.in. One of our representatives will help you with the documentation and procedure you must follow for your claim. Once you have filed the claim, sit back and allow us time to review it before getting back to you. We settle all valid claims within 30 days of the final survey report date.

Myths about Senior Citizen Health Insurance

• They are healthy, and hence, they do not need health insurance

  It's tempting to assume that if your parents are healthy now, they won't require health insurance. However, as individuals age, their bodies may become more delicate and susceptible to sickness. The elderly, like children, require special attention. Even if everything appears to be in order right now, things change suddenly. Purchasing medical insurance early ensures that they are covered when they need it the most.

• Family Health Insurance Policy will offer enough coverage

  A family floater policy will provide adequate coverage for everyone. While these policies cover the entire family, the coverage amounts are shared. This means that if one family member consumes a large quantity, there may need to be more for others, mainly seniors who require more intensive care. Obtaining separate health insurance for your senior family members is preferable to guarantee adequate coverage.

• Senior citizens with pre-existing conditions cannot be covered under health insurance

  A prevalent misperception is that seniors with pre-existing health conditions are ineligible for insurance. Many insurers provide plans that cover pre-existing diseases after a waiting time. It's all about choosing the appropriate insurance company. Research to discover insurers that cover pre-existing diseases so your loved ones are included.

• Purchasing health insurance online is not safe

  Some consumers are concerned that purchasing health insurance online is not safe. In truth, it is pretty secure and convenient. Because there are no agency fees, buying insurance online frequently reduces prices. Furthermore, you may quickly compare different plans to pick the one that best suits your needs. It's a simple approach to acquire the correct coverage without any hassle.

Things to Keep in Mind Before Buying Senior Citizen Health Insurance

If you are about to buy a senior citizen health insurance policy for the first time, here are a few tips for you:

• Examine the Coverage

  Choose a senior citizen health insurance policy that offers comprehensive coverage. Look at the policy sublimits and co-payment clauses. If you want to enhance your plan, make sure to check the riders provided.

• Check Affordability

  You must choose a senior citizen health insurance policy with affordable premiums. Affordability will ensure that you can continue to renew the coverage each year without any issues.

• Look at the Network Hospitals

  When selecting an insurer, examine its list of network hospitals. At least a few hospitals should be located close to where you live. This will ensure that you can easily reach your preferred treatment centre during medical emergencies.

• Set the Right Sum Insured

  The treatment costs for many diseases can run into lakhs of rupees. Therefore, make sure to select the correct sum insured in health insurance. It should leave enough room for you to raise a second claim.

• Check the Waiting Period

  When buying health insurance, check the waiting periods, too. This will help you understand how long you must wait before claiming specific diseases.

• Reveal Your Medical History

  When completing the coverage proposal form, include all details of your medical history and pre-existing conditions. This will ensure your claims are taken forward, and hiding information can prove detrimental.