Common Myths about Senior Citizens Health Insurance in India
Health insurance is the best means of protecting your family from various health problems. Nevertheless, the research shows that less than one-fifth of Indians are using health insurance plans. The reluctance and indecisiveness to invest in the right policy are the reason why 70% of healthcare costs are paid by Indians from whatever savings they have. It is a common fact that senior citizens are the part of India’s population that is the most affected as neither do they not have medical insurance, nor do they have enough savings to meet the medical needs.
Even the intricacy of the selection of the best senior citizen health insurance puts the elderly at a disadvantage. To begin with, there are many false beliefs that people have about senior citizen health insurance. The following are the five most common myths and the truth that stands behind them.
5 Most Common Myths about Senior Citizens Health Insurance
The following are the most common myths about senior citizen health insurance-
Myth 1: Senior health insurance is too costly
The reality is – Age is a significant factor in establishing the premiums; however, there are other factors involved as well, such as lifestyle, health conditions, occupation, and so on. If a person gets good grades in these criteria, they could be offered a relatively lower premium as well.
Myth 2: Family Floater Insurance Policy will provide sufficient coverage
Fact – A family floater insurance policy usually covers all the family members, such as parents, spouse and children. It is a group plan that has a fixed sum insured. If you make any claim because of an illness to any of your family members, the sum insured is reduced, which results in the limited coverage for the aged members of your family.
The elderly people might have some special requirements in a medical crisis. Hence, the family floater plan coverage may not be sufficient, and you may have to pay out of your pocket for the treatment. To prevent this from happening, it is better to get separate health insurance for senior citizens.
Myth 3: The senior citizens in my family do not need health insurance because they are healthy
Fact – It is indeed a great thing if the senior citizens in your family are healthy even after they are more than 60 years old. Nevertheless, it is impossible to say when a sudden medical emergency might happen. Without a health insurance plan, one is cut off from the financial protection that can be of great value in this kind of situation. A quality medical insurance plan can cover more than just the hospitalisation costs. It also gives free annual health check-ups so that the person can get their illnesses diagnosed at the beginning and get the treatment at the earliest.
Myth 4: Older people might find it hard to make health insurance claims
Fact – This may have been true in the past when the claim settlement processes were carried out entirely offline and they were quite complicated. Presently, the claim settlement process is very simple. If the senior citizens have to file the claim by themselves, they may be able to do it easily with minimum help from the insurer.
Besides, cashless treatment has made the procedure even smoother. The individual would only need to contact the insurance company, fill a form and submit the necessary documents. The bills would be paid by the insurer and the hospital. Therefore, the claim on the health insurance policy is a lot easier to do.
Myth 5: The aged people in my family have a health condition and they cannot be covered under health insurance
Fact – This is one of the most prevalent myths that people have about health insurance for senior citizens. A lot of people do not buy health insurance for the elderly members of the family as they think that their pre-existing illness would not be covered under the plan.
Nevertheless, the fact is that the coverage is entirely in the hands of the insurance company. If the insurer you select is ready to cover the pre-existing illness, you will be able to get the health cover for your parents.
The Bottom Line
Common misconceptions should not prevent individuals and their loved ones from obtaining the medical insurance coverage they truly need and deserve. Now that you know the truth about these health insurance myths, we hope you get the right coverage so that you receive the necessary assistance when you need it.
ACKO has affordable premium options when it comes to health insurance schemes. So, if you intend to purchase one, do contact ACKO.
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