People in India who are over 70 years of age or older are more prone to health issues. The financial burden associated with medical crises and age-related illnesses is significantly reduced when senior citizens have health insurance. A healthcare plan provides an essential safety net, ensuring access to timely and high-quality healthcare, especially for senior citizens who are more likely to develop chronic conditions. So, let’s explore the various Mediclaim policies for parents above 70 years available in India.
Health Insurance Plans for Individuals above 70 years in India
When purchasing health insurance coverage for someone over the age of 70, there are several alternatives available. Let us examine a few of the well-known and well-recognised categories of Mediclaim policies for parents above 70 years.
Senior citizens’ healthcare plans cover all age-related clinical conditions and medical expenses like hospitalisation, pre- and post-hospitalisation expenditures, daycare treatments, and more. Such health plans usually cover pre-existing conditions after the completion of the waiting period, but the premiums are likely to be higher, and initial medical tests could be required before approval.
One can also consider a family floater plan when it comes to health insurance for parents above 70 years. The main objective of a family floater policy is to cover not only the whole family but also elderly members, with a fixed sum insured that can be utilised by any family member when necessary for medical expenditures. Nonetheless, such coverage may be inadequate for the elderly, given the fact that the sum insured might not be enough to pay for their healthcare requirements.
If you opt for a critical illness insurance plan, you can obtain coverage for severe illnesses like cancer, heart attacks, and stroke, among others. After being diagnosed with the covered illness, the policyholder gets the entire compensatory amount as a lump sum payment. Although critical illness insurance plans can be helpful for senior citizens, these policies may not cover all medical costs completely.
A top-up plan is an add-on cover that can be used to enhance the scope of coverage for existing healthcare plans. Senior citizens who already have healthcare policies can opt for top-up plans for extra coverage for specific procedures/treatments.
Wrapping Up
A senior citizens’ healthcare plan is an apt choice for parents aged over 70. However, one can customise an existing health plan with necessary add-ons and enhance its scope of coverage.
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