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Health Insurance Buying Tips for Retired Citizens

​With innovation and technological advancement in the medical sector, the cost of healthcare is increasing exponentially. People need something for this to safeguard their savings, as it directly affects saving. For the same, you need to buy a comprehensive medical insurance policy that covers almost all your medical needs. 

In India, lakhs of people of private organizations, commercial banks, and public sector undertakings rely on group medical insurance which their organization provides them during their tenure. Once they are retired from their respective jobs, they end up having no or a very low medical insurance that is not enough to fulfil all their medical requirements, including pre and post hospitalization, health check-ups and medicines. 

Health insurance is something which is the need of every citizen, as all are living an improper lifestyle. People, who are already retired from their respective jobs and group insurance is not enough to meet the needs, are very much required comprehensive medical insurance to full all their requirements. There are several companies available in the market who are offering medical insurance facility for retired citizens. 

Senior citizens suffer the most and end up losing all their savings without a insurance policy. Here are a few tips and recommendations on choosing a comprehensive health insurance policy.

Choose a plan 

Choosing an ideal plan for fulfilling your needs is also a task, as some insurers cover pre-existing diseases and some do not. Also, companies have the provision of the waiting period from 24 to 48 months. It is highly recommended to choose a plan as per the requirement by giving due consideration of the shorter waiting period with all pre-existing illnesses. 

Before finalizing your policy, you should recheck all pros and cons of the policy and options and facilities that the company is providing. Once it is finalized, you can buy health insurance​ online by simply visiting the company’s official website or can call an agent to buy one.

Disease wise capping 

When buying medical insurance, senior citizen needs to read all documents carefully and list down the critical illnesses that the company is covering under the selected policy. This is required because the claim amount of certain diseases is capped irrespective of sum assured. 

Room/ICU limit

Many companies have put capping on room or ICU rent and in that case, the policyholder has to pay if the charges go beyond the limit. So be wise and select those policies or companies which cover your full in-patient treatment. 

Co-payment share

The co-payment option is available in the market for senior citizens buying insurance. In this option, the policyholder has to pay a fixed amount for the covered services. This service is available almost with every company. 

Discounts and long-term payment 

Several insurance service providers givespecial discounts on paying premiums upfront on the maximum policy termand on submitting tests reports within a certain period. Also, companies provide a special family discount, if the policyholder includes other members too in one policy. 

To enjoy your retirement with complete peace of mind, it is recommended to buy comprehensive policy as per your needs. 

Select the best health insurance plan​ for your treatment and hospitalization expenses. Choose a policy which will help you safeguard your savings. Purchasing online is hassle free and convenient now!​