Importance Of Health Insurance In Old Age
In the current times, people have busy lifestyles and don't have enough time to take good care of their health and also with such lifestyles stress levels increase and which somewhere affects health and the risk of certain health problems and diseases increases. The burgeoning costs of healthcare facilities have made health insurance the need of the hour.
As people age, the chances of them contracting serious diseases and problems increases. Having health insurance ensures financial stability for future health expenses when the event of contracting such diseases actually happens.
Benefits of Health Insurance in Old Age
Apart from medical treatment expenses, health insurance brings other benefits too which includes post-operative care such as medical tests and medication for certain critical illnesses. Below mentioned are some benefits of health insurance for old age individuals.
1. OPD Services
OPD stands for the outpatient department. It is a hospital department designated to be the first contact point between the patient and the hospital. Aged people are more likely to avail opd services as they need regular checkups and medical tests. Many old age health insurance plans provide coverage for opd services in health insurance plans. Opd services include coverage for several daycare procedure expenses like diagnostic tests, medical bills, ambulance charges, health checkups, dental treatments, etc. irrespective of whether the patient is admitted or not.&
2. Pre-Existing Diseases Coverage
Pre-existing diseases refers to all the diseases or problems you were suffering from when you bought the policy. To be more precise, it includes the diseases which you are diagnosed with before 48 hours of buying the policy. There are companies in the market that offer plans including coverage for such diseases. Pre-existing diseases can range from serious conditions like cancer or diabetes ailments like blood pressure or allergies. Companies have their list of pre-existing diseases for which they provide coverage, but there is a waiting period of generally 48 months for different diseases.
3. Lifelong Renewal Option
Usually, insurance plans have a time limitation to claim coverage but old age plans come with the option to renew such insurance plans for a lifetime. It is one of the benefits of old age plans, you need to buy another plan after completion of the time period, you can renew the plan according to your needs.
4. Dedicated Senior Citizen Plans
Companies provide different plans for different age groups, they offer separate plans for people above 60 years and provide facilities according to age groups and needs.;
5. Pre and Post Hospitalisation Expenses
Companies provide coverage for post and pre hospitalisation expenses too, which includes medical tests and screening, medication costs etc.
Conclusion
Generally, people are of the belief that health insurance benefits only young age people and there is no use in buying such expensive plans in old age. But there are a host of benefits offered by health insurance plans evenople in their old age along with nominal premium benefits.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
