A piece of news in today's newspaper caught my attention and made me emotional! An old woman was killed by her own son over property disputes. This may not be a new thing to hear as we come across many such incidents in India with old parents and their children abandoning them. I immediately got my mother in my thoughts and I went to her room to peep in and she was in her sleep and seems comfortable. That sight gave me a sense of solace and I am sure she might have had many such sights while I was sleeping in my young years. The only thing that has changed is she has turned fragile with her health condition now and requires a lot of care to keep her in the condition in what she currently is. “Geriatrics” is the term used in developed countries for senior citizens treatment. It may be surprising but they have an exclusive wing for older people and majority of the citizens buy health insurance for senior citizens in those countries. Who will understand that an elderly person has the same right to live with all the privileges and comforts of food, clothing, shelter and health just as every other citizen in the country irrespective of their age?
What is a Mediclaim Policy?
In India, it is popularly known as Mediclaim policy for senior citizens. But what exactly is a Mediclaim policy? We are aware of the whopping expenditures one has to incur to get quality treatment in private hospitals given the kind of treatment available in government hospitals. To avoid paying huge hospital bills in the need of the hour, one may have a mediclaim policy which lets them afford good treatment when the need arises. More than anyone else, it is very essential for elderly people due to the spurge of lifestyle ailments.
Types of health insurance plans for senior citizens
Usually, there are two types of Mediclaim policies available in the insurance market.
Individual Plan: Majority of the policy seekers own this plan as the beneficiary would be only one individual and this individual will get the insurance coverage and reimbursement. Individuals with elderly parents should definitely prefer these type of policies since the chances of a claim increases with increasing age. Also, there are higher chances of the claim amount being higher for the elderly than the younger family members. As such, covering the health insurance needs of the elderly members in the family through an individual medicalim plan is a wiser and the more preferred option even though it might result in slightly higher premium expenses.
Family plan: There are insurance policies which allow all the members of a family to get medical insurance reimbursement to the sum insured. They can either share it or anyone can consume the entire amount depending on the necessity. It is very rare that all of the family members need an insurance claim. So, it suffices the health care needs of a young family.
Advantages of Mediclaim for Senior Citizens:
Financial independence: In a world where elderly people are treated as a liability and their necessities are treated as secondary, it is always better to stay financially independent at least for the medical expenditures as elderly people are vulnerable to decreasing health with years passing by.
OP health checkups in regular intervals: Any best health insurance for senior citizens would permit them to go for regular out-patient checkups. Regular health care would apparently keep elderly people safe against the impending health emergencies.
Vulnerability to illness with age: Very less people are fortunate enough to stay healthy even in their old age but majority of people fall prey to decreasing vigor in their old age. Hence, there are higher chances that one needs medical care in their old age.
Tax exemption: Senior citizens can get their taxes exempted for owning health insurance policies and this is one advantage that can save money for them.
Save your savings: All your savings throughout your life need to stay intact for running your life but they should not be spent on paying the medical bills which can exhaust the entire saved money.
Misconceptions about a Mediclaim Policy
Parents are too old for an insurance coverage: You will definitely find a good policy for your parents irrespective of how old are they. You can get a mediclaim policy even when your parents are above their 80s.
Existing Medical Conditions: No insurer would stop you from buying an insurance policy for your parents irrespective of the fact that they have considerable medical history of ailments. In fact, you get more advantage of an insurance policy when they have an existing health condition.
Reimbursement is a tedious task: Reimbursement has become lot more easier than the earlier days with the advent of online insurance websites. Even if they are little tedious, it is better to spend some time than paying huge medical bills. Preserve all the medical documents and submit them as proof and that’s it.
Don’t stay in guilt that you could not do enough to keep your elderly parents in a luxurious state. Just give them love and comfort in their old age by providing them a senior citizen health insurance in India. After all it is your turn to take care of your parents for all of that they have done for you to make you what you are today. It’s time to give them back!!