A health insurance policy for senior citizens is crucial. With its increasing importance, the number of options to choose health insurance plans from has also increased. The main factors that people focus on while choosing a suitable health insurance plan are premium affordability and the benefits of the policy. After considering these factors they move forward with the plan to purchase the insurance policy.
Mentioned below are two major parameters that changed over the years for health insurance for companies and individuals. Have a look at the following before you purchase health insurance cover:
Two Major Parameters that changed for Health Insurance Industry
Options to Choose from Health Insurance Plans Have Increased
Earlier, it was tricky to get senior citizen insurance plans, however, now it is more than simple. For instance, people have plenty of options, it is not necessary to visit an office (with the use of the internet, the ease of availing insurance policies has increased). People reaching the age of 60 prefer to purchase health insurance plans so that at the later stage of life, they don’t have to pay heavy medical bills.
Existing Ailment Not an Issue Anymore to get a Health Insurance Policy
Mostly an existing ailment was a major reason why many people were not provided with a health insurance plan. However, this too has changed, as this criterion was never going to fit in for people near the age of 60 or above. But as of now, even if you have a chronic illness, the insurers have become sophisticated about it.
Common chronic illnesses like diabetes, blood pressure, arthritis, thyroid, and spondylitis are found in more than 60% of the senior citizen in the country. Nowadays, there are special health insurance policies according to the existing ailment, meaning that these will not prevent you from availing a new health insurance policy. The policies have been upgraded and people can easily avail of the health insurance policies whether 60 years old or above.
Co-payment – A good-to-go option or not?
Many senior citizens special insurance plans offer low premiums as compared to standard senior citizen plans. However, there is a copayment option that comes along with the fixed sum insured. Meaning that every time you file a claim, you are supposed to pay a part of it as agreed under the co-payment clause. In addition, some plans also provide you with the option to pay a higher premium in order to avoid the co-payment obligation.
Why Choose Bajaj?
Now that you know all about the changing parameters of health insurance policy for senior citizens, another question that may pop up in your mind is, why choose Bajaj?
Whether it is a health group insurance, employer health insurance plan, or a critical illness insurance plan, Bajaj health insurance premium has got you covered for all. It comes with a hassle-free process, simplified details, and affordable insurance premiums.
All you need to do is visit the official website or tap on the app on your smartphone and you’re good to go! There, you will find all the details on how to buy a policy? what is a health insurance plan? or what all insurance covers are available online? In the above article, you learned how the parameters of health insurance plans for senior citizens changed over the years. For more details on how to purchase insurance policies online or any other related information, you can visit our Bajaj Finserv app