Topic 3: How to Select The Best Senior Citizen Health Insurance Policy?

Buying a health insurance policy for senior citizens should be carefully done as you would want them to give maximum coverage possible for their increased healthcare requirements. Keep the following points in mind while selecting a health insurance policy for senior citizens.
  • Know the medical history: While buying a health plan for your senior citizen parents or grandparents, it is crucial to know their medical history. However, it is possible that they too are unaware of prevailing medical conditions that they suffer from. In such cases, you should not rely solely on their knowledge of their health. It is always advisable to cross-verify their medical history before providing such details to the insurance company.
  • Compare and select a plan: In India, several health insurance companies offer numerous health insurance plans, specially designed for senior citizens. It is recommended to check some top health insurance plans and compare them side by side before making a final decision. Such comparison can be made on factors such as price, coverage, inclusions, exclusions, waiting period and riders.
  • Provide correct details: While buying senior citizen health insurance policy, fill in the relevant and right information. Incorrect information could cause a problem, and your policy application and claim might get rejected.
  • Do a medical check-up: The policyholder may have to undergo a pre-medical test after submitting the proposal form. The insurance company will then verify the information provided in the policy application form and the medical condition of the applicant. Depending on the health of the applicant, a few medical tests may be conducted by the doctors. These tests may include sugar, urinal test, blood test, kidney and liver function, etc. It is important to note that not all insurance companies require a pre-medical screening of applicants.

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