How to choose the best senior health insurance for senior citizens?

New Delhi: Health insurance is a must-have investment in the post-COVID world. The pandemic has highlighted the critical importance of providing adequate health coverage for one's family. This safeguard for your family is especially important if you are getting older or have elderly parents. It is well known that the likelihood of unexpected health problems increases with age.

Additionally, rising medical inflation is bad for your family's budget. Nobody wants to spend money on medical bills. As a result, when selecting or upgrading a senior citizen plan, one must exercise extreme caution and be well-informed. You should not expect your regular health plan to meet your needs as you age. Here are some things to think about when choosing the best health plan for your golden years.

Consider the PED waiting period

When purchasing insurance for senior citizens, the waiting period for PEDs, or Pre-Existing Diseases, is an important consideration. Some health plans now cover diabetes, cardiovascular disease, and hypertension from the start. It is always best to go with a PED-friendly plan at this point in one's life.

Choose a policy with the largest hospital network

Because the elderly are more susceptible to diseases, they may require hospitalisation on a regular basis. Always purchase a senior citizen health insurance policy with a cashless hospitalisation benefit at your preferred hospitals. The greater the number of network hospitals in your policy, the better.

Prefer zero co-payment 

As a co-payment, many senior citizen health insurance plans require you to pay a predetermined percentage of the claim amount. You should ideally select a plan without a co-payment clause. As a result, your insurance experience will be truly cashless and hassle-free.

Choose plans with a no-claims bonus

Choose a senior citizen health insurance policy that includes a no-claim bonus. If no claims were filed in the previous year, this benefit increases your policy sum insured by a fixed percentage without increasing your premium.

Opt for domiciliary treatment cover

In the event of a critical health situation or a hospital bed shortage, a sick elderly person may be forced to receive medical treatment at home. As a result, you should opt for a senior health plan that covers the cost of in-home hospitalisation.

Select plans with OPD benefit

Health insurance has traditionally protected policyholders from financial hardship in the event of hospitalisation. This did not include the cost of outpatient treatment at the hospital. Senior citizens frequently require hospitalisation for routine consultations or diagnosis. This is why you must select a plan that includes OPD coverage. The market currently has some very promising plans that fit the bill.

Choose lifetime renewal

As one gets older, health insurance becomes more expensive. As a result, you should select a health insurance policy that is renewable indefinitely so that you do not have to look for another policy for your parents in their old age.

Buy plans that include free medical check-ups

A timely diagnosis of a disease can help save a patient's life, and regular medical check-ups are the only way to detect a disease early. Choose a health insurance plan that includes free medical exams for seniors.