As an individual grows older, he tends to frequently fall sick. This is the major reason why every senior citizen needs a health insurance policy in times of medical emergencies. In order to purchase the right health insurance with maximum benefits, it is advisable to follow these factors given below. Take a look at these 5 factors one needs to understand before buying senior citizen health insurance:
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5 factors to consider before purchasing health insurance for senior citizens
Consider their age
Under health insurance for senior citizens, the age aspect matters the most. Before considering it, understand the entry age as well as the renewal age applicable for the senior citizens. While certain insurance companies provide health insurance for senior citizens at the age of 60-80 years, the insurance renewal for them is allowed until 80 years of age. However, an insurance company which permits the entry at the age of 80 is considered as the best one for senior citizens.
Opt for an extensive coverage
A health insurance policy for a senior citizen is only considered worthy if it provides extensive coverage. Therefore, look for health insurance which covers a maximum number of diseases, critical illnesses in the policy. In order to understand the different diseases covered under the policy, go through the terms and conditions of the policy with keen interest. See to it that you look out for hereditary conditions like diabetes, hypertension, and so forth.
Confirm the pre-existing diseases
Before purchasing health insurance for senior citizens, see to it that you confirm if they are suffering from any pre-existing medical conditions. This is simply because as the age increases, the chances of suffering from any pre-medical condition is higher. If they are going through the same, then check the waiting period before making a health insurance claim.
Look for network hospitals
Typically, health insurance for senior citizens covers a wide range of network hospitals which are present in their vicinity. These network hospitals serve their purpose by offering the right treatment and immediate medical care. Once you opt for these hospitals, you will be availed with emergency treatment from specialists. Going ahead with the treatments from network hospitals ensures that the senior citizens have a hassle-free experience in times of an emergency.
Check for co-payment clause
When it comes to purchasing a health insurance policy for senior citizens, every policy includes a co-payment clause. A policy which comes with a co-payment clause requires the policyholder to make a specific amount of payment from his pockets. In the case of the 60:40 policies, the policyholder bears the responsibility of the rest 40% which go out from his pocket while the remaining 60 is taken care of by the insurance company.
Now that you know what to do before purchasing a senior citizen health insurance policy, then what are you waiting for? In order to get your hands on the best health insurance for senior citizens, consult a professional. Don’t let your age come with a price. Therefore, invest in a policy which suits your needs as well as the budget in times of a medical emergency.
