Senior Citizen Insurance

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Senior citizen health insurance policies are specifically designed to provide coverage for older individuals. This post provides some basic information on the age required to buy a senior citizen insurance plan.

Minimum and maximum entry age for Senior citizens

Since senior citizens are those aged 60 and above, senior citizen plans to fix the minimum entry age at 60 years. These insurances are then renewable lifelong for the senior citizen. Where normal health insurance plans limit the entry age to 65 years, senior citizen health plans allow the entry age to be higher, going up to 75 or even 80 years. Some insurers have no upper limit on the entry age and individuals aged 60 and above can buy senior citizen plans easily.

Some health insurance plans double up as senior citizen plans. These have no age restrictions. Individuals of all ages can buy these, thus making these plans both normal health insurance plans as well as senior citizen plans.

Additional read: What constitutes a best Senior Citizen Health Insurance Policy

Renewal

Renewability allowed under senior citizen health plans is lifelong. This means that there is no cover-ceasing age if the insured persons renew the plan regularly.

Medical check-ups

Senior citizens might have to undergo pre-entrance medical check-ups before the insurance provider issues the policy. Since senior citizen plans cover older individuals, health check-ups become necessary to gauge the health of the individual buying the policy.

Pre-existing conditions

Most insurers are careful to list out pre-existing conditions and their related exclusions carefully. A senior citizen may find it difficult to buy insurance because they have illnesses such as diabetes, cancer, or hypertension. In such cases, they can avail of specific insurance plans that cater to people with such issues. Reach out to SecureNow to know more about this.

Co-payment

Plans for senior citizens might have a co-payment clause since the insured is 60 years or older. Under the co-payment clause, the policyholder has to bear part of the claim while the insurance company bears the remaining. The co-payment ratio usually ranges from 10% to 25%. This means that the policyholder has to pay 10% to 25% of the claim and the insurance company pays the rest.

 

Senior citizen health insurance plans are ideal for the elderly as they provide good coverage at affordable premium rates. For more information on senior citizen plans, do visit SecureNow