With the threat of Covid바카라s Omicron variant looming, senior citizens, especially who have co-morbidities, need to be careful. However, it also makes sense to be prepared.
Senior citizens, typically, have medical conditions that require constant medical assistance, need to be extra cautious while there is a rising number of cases. With the Omicron fear growing, one should be careful about the type of health insurance that will be effective for senior people.
With the threat of Covid바카라s Omicron variant looming, senior citizens, especially who have co-morbidities, need to be careful. However, it also makes sense to be prepared.
A comprehensive health insurance cover makes sense for senior citizens as they need a wider coverage than other members of the family.
바카라We need to come to terms with the fact that Covid19 hasn바카라t left us and there is a continuous threat on all of us and more on senior citizens due to their delicate age. It바카라s also true that they face a higher risk of catching the new variant of Covid. Comprehensive senior citizen health insurance plans do cover the treatment of coronavirus and it바카라s all variants,바카라 says Naval Goel, founder and CEO, PolicyX.com, an insurance portal.
Which Policy Should You Buy바카라Family Floater or Standalone?
Senior citizens, typically, have medical conditions that require constant medical assistance, which may not be the case for the other family members. 바카라Therefore, it is always recommended to cover parents under a separate plan specifically designed for senior citizens. Such plans provide conditions and facilities that are best suited for them,바카라 says Goel.
Buying a family floater with a senior citizen will also mean that you pay higher premiums. The cost for the family floater health insurance plan is determined by the age of the family's eldest member. 바카라For example, suppose you have a family floater policy with a sum insured of Rs 10 lakh, and the insured persons are you (30), your spouse (28), and your parents (both 60 years). The premium for this policy will skyrocket, and the policy will expire as soon as your parents reach the policy바카라s maximum age limit. Any pre-existing disease will raise the premium for the family's coverage,바카라 바카라says Mayank Kale, CEO and founder of Loop Health, a health insurance company.
Buying a family floater for the younger members of the family and a standalone health policy for the senior citizens, therefore, may be more cost-effective and provide better coverage to all the members.
What Should Be The Sum Insured?
It is critical to have a plan that provides maximum coverage with the fewest exclusions. 바카라You must also consider any illnesses or surgeries that your parents may require. It is preferable to choose a plan with a higher sum insured. You can consider, a cover of Rs 10 lakh to Rs 20 lakh for each of your parents, depending on where they live,바카라 says Kale.
If a person is below the age of 55 years, then Rs 5-7 lakh of the sum insured is sufficient and if the person is above the age of 55 years, then they can take an insurance for Rs 10 lakh, say experts.
In insurance parlance, the co-pay amount is the percentage of the claimable hospital bill that you must pay. Co-payment is an agreement where the insured promises to pay some percentage of medical bills from their pockets. The percentage is pre-decided at the time of buying a policy and it varies from company to company. A higher co-payment amount sometimes makes the policy affordable, but you must weigh your options.
Things To Keep In Mind
Here are some tips that you can keep in mind while considering optimum health insurance cover for your parents:
Start Early: One should buy a health plan for parents as early as possible. This will help avoid restrictions related to age. As a rule, premiums tend to increase with advancing age.
Pre-Existing Illnesses: Study the policy conditions carefully to check for coverage of pre-existing conditions. This would be covered after a prescribed waiting period (usually 36 to 48 months).
Invest In Critical Illness Coverage: A critical illness management requires longer care. A critical illness plan is the best since it provides a lump sum amount on the first diagnosis of the illness.
While buying a policy, don바카라t forget to check the waiting period and the hospital network. Also, check if there is any coverage for day-care expenses as some conditions that senior citizens suffer may require that.
What May Not Be Covered?
While you understand what is covered in the health policy for parents, it is equally important to know what is not covered: