Senior Citizen Health Insurance- Everything You Need to Know

1
Senior Citizen Health Insurance- Everything You
Need to Know
2
Individuals above 60-65 years of age have
different medical requirements than their younger
counterparts. As a result of their age, they are
more susceptible to illnesses and health issues.
Thus, they require reliable healthcare
frequently. To deal effectively with such
situations at this age, it is paramount to have a
senior citizen health insurance policy. Such
health insurance policies have been structured
keeping in mind the unique needs of senior
citizens.    In this article, we guide you
through several elements of senior citizen health
insurance. We hope the information we provide
here increases your understanding of the same. 
3
An overview of coverage provided by senior
citizen health insurance policies   Generally,
senior citizen health insurance will cover
expenses for the following -  -
Hospitalization  - Pre- and post-hospitalization
(for a specified period as mentioned in the
policy) - Day-care procedures and treatments  -
Alternative treatment methods such as AYUSH  -
Ambulance charges    The best health insurance
company in India will provide coverage for
critical illnesses as well.   
4
Pre-existing diseases   As you may be aware,
regular health insurance policies do not cover
pre-existing illnesses until a specified period
has passed. Senior citizen health insurance,
however, does cover pre-existing illnesses
subject to certain terms and conditions.    Minimu
m and maximum age limit   The minimum age limit
required to insure somebody under senior citizen
health insurance is 60 years and the maximum is
set to 80 years of age, depending on the
insurer.   
5
Tax benefits to be gained   To increase awareness
about health insurance and to encourage more
people to purchase it, authorities have provided
a host of tax benefits. Under Section 80D of the
Income Tax Act, premiums paid towards health
insurance for individuals above 60 years are
eligible for tax deductions up to Rs 50,000. So,
your premiums for senior citizen health insurance
(under Rs 50,000) can be deducted to reduce your
taxable income and help you increase your overall
savings.   
6
Why opt for a senior citizen health insurance
over regular health insurance policies    As
mentioned before, senior citizens require medical
care often. Your regular health insurance may not
be equipped to handle the frequent claims.
Moreover, if the senior citizen is covered under
a family floater policy, the frequent claims
could lead to a reduction in the sum insured for
the remaining family members. In senior citizen
health insurance, there is no claim limit, so one
can make as many claims as they require as long
as it stays within the upper range of the sum
insured.     Another important aspect to consider
is the possibility of our older loved ones
developing a critical illness. Regular health
insurance may not cover critical illness, but
senior citizen health insurance does.   
7
Lastly, regular health insurance policies have a
maximum age limit beyond which the insured is not
eligible for coverage. So, opting for a senior
citizen health insurance once the senior citizen
nears that limit is the wisest option.    Do bear
in mind that the coverage of senior citizen
health insurance policies differs between
insurers. Kindly read the policy documents
carefully before signing. 
8
Follow us on
www.facebook.com/iffcotokio/
twitter.com/iffco__tokio
https//www.instagram.com/iffcotokioofficial/
9
5 Things to Look for in a Critical Illness
Insurance Plan Visit Here https//www.iffcotok
io.co.in/
For more details
Thank You