Buying health insurance of a senior citizen? 5 points to keep in mind

economictimes.indiatimes.com:

Health insurance of seniors
As individuals age, the need for comprehensive health coverage becomes critical. It serves as a financial safeguard, providing access to quality healthcare without imposing a financial burden on the family.

Here are some points to consider before buying a plan.

Check available product options
One should research all the available health insurance policies for senior citizens and evaluate them after considering factors such as coverage limits, waiting periods, and exclusions, to make an informed decision.

Pre-existing conditions
Given that many senior citizens may have pre-existing medical conditions, it’s crucial to select a health insurance policy that either covers these conditions or has a shorter waiting period for them.

Network hospitals
It makes sense to opt for policies with an extensive network of hospitals. This ensures that the senior citizen can access quality healthcare services without hassle.

Co-payment and sublimits
The policies for senior citizens may have co-payment clauses, requiring the insured individual to bear a percentage of the medical expenses.

Additionally, the policies may have sub-limits on specific treatments. Understanding and evaluating these aspects is crucial.

Renewability features
The policies with lifelong renewability features are ideal for senior citizens.