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As a person grows old, healthcare needs increase. This makes the health insurance policies important for financial planning.
Health insurance for senior citizens is a policy that focuses on meeting the medical needs of people above a certain age, usually 60-65 years.
1. Coverage Limits: For one to select the insurance plan, it is important that seniors are informed about the coverage of the policy in order to avoid claim rejection later.
Knowing the monthly premium amount is important, as one plans finances in advance of retirement year, as there is no regular income.
While buying a health insurance policy, it is important to consider the reputation of the insurance provider.
For senior citizens, the best plans offer comprehensive coverage for hospitalisation, daycare procedures, and pre-and post-hospitalisation expenses.
The insurance plan should be flexible in that it allows customisations, like adding coverage for critical illnesses or offering free health check-ups.
The plan for senior citizens should cover a wide range of medical treatments and emergencies, with less documentation and quicker claim responses.
For senior citizens above 65, one must have a careful consideration due to the higher risk of health conditions at this stage.