Health issues are bound to increase with age. Also, the rising inflation has made medical facilities and treatment costs out of the reach of a common man. To resolve both these issues conveniently, you need to purchase only one comprehensive medical insurance plan. Health insurance companies allow you to subscribe to a medical insurance policy at any age. However, it is better that you avail it when you are still young because of these reasons:
Affordable premium
A medical insurance plan can cost an extra premium to individuals who are above 55. This is because your body might be prone to several health issues after crossing a certain age. You must opt for a health insurance plan at a younger age as health insurance companies tend to charge a lower premium from youngsters as they are less prone to diseases and ailments.
No medical checkups required
If your age is below 55 or even 60 in some cases, the health insurance plans might not require that you complete a medical check-up before subscribing to a health coverage plan.
Lowering the impact of the waiting period
If you purchase a health insurance policy in the later stages of your life, the possibility of being diagnosed with an illness or severe medical condition before the completion of the waiting period increases. When you apply to a health insurance plan early, the waiting period that you will have to complete to be eligible for the coverage will be over long before you actually need it.
Also, pre-existing illnesses usually have a longer waiting period, and therefore, applying to a health insurance plan when you are still young can come in handy even if you are already suffering from an illness or medical condition.
Moreover, senior citizen health insurance plans might not cover specific medical conditions. Apart from the higher premium, some medical cover plans might also require that you bear the medical expenses partly while getting treated for an illness, accident, or any medical emergency. All these things highlight the fact that it is better to subscribe to a health insurance policy at an early stage of your life.
Some health insurance plans such as max bupa health insurance plans that is provided by Bajaj Finserv, allow you to subscribe to a health insurance plan at any age. Also, you can get its family floater plan that provides a maximum sum insured to each member of your family whenever they require it. With this plan, senior citizens can apply for a 1 or 2-year plan and they can renew it up to any age as per their requirements.
Benefits like cover for all daycare treatments, pre and post-hospitalization cover, cashless treatment facilities in any one of the network hospitals, etc. make it one of the recommended insurance policies in India if you are a senior citizen. However, it is not the only medical insurance plan that offers a wide range of benefits to elders. Many senior citizen health care plans offer features like lifelong policy renewal option, reimbursement for ambulance costs, cashless treatment at network hospitals, the option of adding other senior citizens of your family under the policy, and much more.
Therefore, it is better that you compare several health insurance policies before choosing one. For facilitating easy analysis of various health insurance plans, Bajaj Finserv is offering health insurance plans of multiple insurance companies on their official portal. Bajaj Finserv gives you the option of checking the features and benefits of Max Bupa Health Companion insurance policy as well. You can go through the features and benefits of different medical insurance policies that are available on their website and may even apply for the one that suits your medical needs.
