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Why to Buy a Senior Citizen Health Insurance Policy?

Updated On Aug 25, 2021

How to stay protected against health emergencies is one of the most important factors to consider when planning retirement. But the good news is that most of the senior citizens have found the solution to manage finances in case a health emergency stucks, i.e. a reliable senior citizen health insurance plan. 

A comprehensive senior citizen health insurance policy for senior citizens not only helps you stay protected against unforeseen medical expenses, but also help you stay self-reliant in the misfortune event of a health emergency. Hence, there is no doubt in the fact that you should timely buy a senior citizen health insurance policy that covers you for maor healthcare expenses. There are numerous insurance companies that offer senior citizen health insurance plans designed to meet specific requirements of senior citizens. They have a wide network of cashless hospitals and attractive features which ensure a stress-free and peaceful retirement for you.   

Why to Buy a Senior Citizen Health Insurance Policy?

Reasons to Buy Health Insurance For Senior Citizens

There are several reasons why it is recommended to be covered under a senior citizen health insurance policy. Some of them are listed below:  

1. Covers Medical Expenses: A comprehensive health insurance policy covers you for several healthcare expenses including in-patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, daycare expenses, domiciliary hospitalisation expenses, and even pre-existing diseases. Wide range of benefits keep you covered in most cases.

2. Quality Medical Attention: Every insurance company has a tie-up with hospitals known as network hospitals. At these hospitals, the senior citizens can avail quality treatment from experienced professionals. 

3. Preventive Health Check Up: Some senior citizen health insurance plans also cover you for health check-ups every year or after every block of 3-4 years, which may vary from one policy to another. You are not required to pay anything for these check-ups and they are covered under the coverage benefits. Also, unlike other health insurance plans, there are several senior citizen health insurance plans in the market that do not require the senior citizen to go through any  pre-acceptance medical screening.  

4. Save Tax: The premium paid for senior citizen health insurance plans is eligible for tax benefits under Section 80D of the Income Tax Act, 1961. As compared to others, senior citizens can avail the maximum tax benefits. But note that you can only avail benefits if the premium is paid in any mode other than cash. 

5. Peace of Mind: Having a reliable senior citizen health insurance policy offers you the much required peace of mind in old age. As the policy covers you for several healthcare expenses, you need not worry about managing finances in case of an emergency. All you need to do is focus on your health. 

Takeaway

You may think that the savings you have accumulated over the years may be enough to take care of your medical requirements. But the corpus may not be enough as you think. This is why it is imperative to have a health insurance policy for senior citizens that protects you from financial strain in case of a health issue. 

Also Read: Senior Citizen Health Insurance- All you need to Know

How To Buy Senior Citizen Health Insurance Plans Online?


Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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