Having health insurance becomes very important in old age. In old age, there can be many such expenses related to your illness, which can be expensive to cover without insurance.
As the age increases, the immunity of the body against diseases also decreases. The risk of diseases increases with increasing age. Covering medical expenses is getting costlier day by day. In such a situation, you may have to pay a lot of money to cover the expenses of a major illness. Also, it is not easy to get insurance after the age of 60. So in such a situation it is necessary that you must take medical insurance beforehand. But before that you must take care of some special things. Let us know about these things.
cover amount
With increasing age, a person is considered more prone to diseases. In such a situation, senior citizens do not get insurance easily, even if they get it, they do not get more than 5 lakh cover. On the other hand, depending on the income, many times people also get an amount of up to 1 crore in the insurance policy. That’s why one should always keep in mind the insurance cover and try to get a claim for a larger amount.
co-payment
Many insurers also offer the option of co-payment to the customers. In this, the policy holder has to bear some part of the medical expenses. The higher the co-payment component, the lower will be the liability of the insurer. In such a situation, you should choose such a policy in which the cost of co-payment is less.
capping
Senior citizen insurance mostly comes with capping on expenses like room charges, old-age related operations like knee replacement, organ transplant etc. In such a situation, you should try to take such a policy in which you do not have to pay less or no capping charge. Depending on the health condition of an applicant, insurance companies may also impose higher limits. Like removing some benefits. This reduces the benefits of the health policy. You should also keep this in mind while taking insurance.
