Some of us love the old age when all we have to do is relax since the regular office job is over. While others fear the old age because it brings with it the absence of income and diseases. Ulcers, joint problems, hypertension, urinary problem, heart diseases, etc. have an increasing incidence on the body in both the rural and urban population.
In this scenario, buying a health insurance plan is the most prudent course of action for the individual so that in the event of any medical contingency, their health plan will come to their rescue. A few years back, health insurance plans which continued even in the older ages was hypothetical. The maximum age after which individuals lost their health cover was 60-65 years. But, in today’s age of intense competition, insurers are offering enhanced benefits on their senior citizen health insurance policies. Policies designed especially for senior citizens are available in the market today which was earlier just a mere dream. But, the question is - Is it worth buying a senior citizen policy?
Health insurance plans that are designed to take care of the medical costs especially in the old age are a blessing for a common man. The reasons are many – let us take a look:
• Absence of regular income flow - Old age brings with it retirement when you give up your employment and also the source of your income. You plan for retirement during the active ages of your life but is the amount saved from the planning sufficient to take care of all the expenses that arise in the golden age of your life? Old age is a stage when the body demands a lot of medical attention and consequently a lot of money. Meeting the medical treatment costs when the source of income is dried up to a trickle is a harassing ordeal. As such, insuring yourself with a senior citizen plan is the best course of action.
• Incidence of diseases- Besides retirement, another effect of old age is weakening of the body and the onset of diseases. People in old age suffer from many ailments some of which include diabetes, hypertension, joint pains, cancer etc. the list goes on and so does the prescription of medicines. In the absence of a steady source of income how do you presume that the medical attention needed will be imparted? The answer - senior citizen health insurance plans
• The cost of premium- The major reason why you would shirk away from buying a senior citizen plan is because of the costs involved. Since health insurance plans cost more at a higher age, it is the general conception that senior citizen plans are expensive but it is not the case. A 71 year old male buying a senior citizen health insurance with a cover of Rs.1 lakh from Star Red Carpet will have to pay Rs 5,095/- for the cover while the premium for the same plan with a Rs.2 lakhs cover is Rs. 9,681/- annually. So, is the premium unaffordable?
Gone are the days when you could be covered under a health plan only till the age of 65 years. The new age demands new changes and with senior citizen plans available in the market, all of you in that golden age, who are without a medical insurance coverage, a senior citizen plan is your answer. So go, insure yourself and secure your peace of mind.