Healthcare bills account for a large chunk of monthly expenses of senior citizens and meeting these expenses without financial assistance can be challenging. This Grandparents’ Day choose to gift them financial security and access to quality healthcare with a health insurance plan.
Senior citizen health insurance plans are specially designed to cover the healthcare costs associated with the medical conditions of those aged 60 years and above. Bajaj Finance partners with leading insurance companies to provide senior citizens health insurance policies that suit them perfectly.
Here are the benefits you can get from health insurance plans.
1. Hospitalisation expenses coverage
Health insurance plans for senior citizens typically offer a comprehensive coverage for hospitalisation expenses. It includes ICU charges, room rent, doctors' and surgeons' fees, operation theatre expenses, medicine, etc. Besides this, health insurance plans commonly give coverage for pre-and post-hospitalisation medical expenses up to 30 or 60 days prior and after hospitalisation, depending on the insurer’s policy offerings.
2. Medical health check-ups
Almost every senior citizen health insurance plan includes an annual complete health check-up. This will encourage them to get regular check-ups, and you can monitor their health by keeping track of their medical records. Nonetheless, it keeps you aware and prepared for any medical emergencies.
3. AYUSH coverage
Apart from covering modern medicines and treatments such as allopathy, health insurance plans for senior citizens covers alternative therapies such as ayurveda, yoga, unani, siddha, and homeopathy (AYUSH).
4. Day care treatment expenses
There are multiple day care treatments such as chemotherapy, radiation, cataract, dialysis that require less than 24 hours of hospitalisation. Many health insurance policies today cover these kinds of treatments. The number of day care treatments covered in a policy may vary as per the insurer. Bajaj Finance offers coverage for 300+ day care treatments.
5. Domiciliary hospitalisation expenses
Health insurance plans for senior citizens give financial assistance for the medical treatments taken at home. You can get coverage for such treatments, in case of unavailability of hospital beds or the patient’s condition doesn’t allow moving to a hospital.
A prescription from a registered doctor is a must to avail of this benefit however, there may be a minimum day clause that you must check.
6. Organ donor expenses
Often, serious ailments can lead to the failure of organs. An organ transplant is the only solution in such cases. Senior citizen health insurance plans cover organ donor medical expenses. Normally there is an upper limit for this benefit, depending on the insurance chosen.
7. Cumulative bonus
For every no-claim year, the insurer gives you a bonus, either by increasing the sum insured or by providing a discount on your premium at the time of policy renewal. This bonus is given as a reward to the policyholder. It can vary between 20% and 50%, depending on the number of claim-free years.
While buying a health insurance plan for your grandparents, you should take care of the following facts:
· The claim process of the insurer should be smooth.
· The plan should have a shorter waiting period.
· The sum insured should be adequate to meet the medical expenses of your grandparents for a year. Hence, it is advised not to focus only on lower premiums. Often, a lower premium is an indicator of less sum insured.
· Choose an insurer who has a wide range of network hospitals. It can help your grandparents to avail of cashless treatment.
Choose a plan that suits your grandparents best. Bajaj Finance offers a seamless process for health insurance for senior citizens. So, make a wise decision and secure your grandparents’ health with a good health insurance plan.
