Factors To Judge When Comparing Senior Citizen Mediclaim

The last span of lifelong journey finally when retirement declares, unwanted guests sick the fitness of the body pushing an individual closer to the disease-prone side. But health insurance companies have modulated their policies towards the critical age of human life, and the announcement of senior citizen mediclaim policy has brought much relief to the aged persons. The savings of the work done all through life should not get wasted on medical expenses, and to utilize it wisely, mediclaim policies are the best to opt for. The benefits of health insurance provide you protection against the skyrocketing medical expenses in the golden years of life.  According to a recent update by the IRDA, every insurance company has to provide coverage up to 65 years of age. The newly formulated policy doesn’t hinder the individuals to stick to a single insurer, but according to convenience one can shift the insurers as when required.

To choose the best mate to company you till the last breath, one should cleverly choose the best health insurance. Here are some factors to consider when comparing health insurance providers:

Cover: The amount of coverage is comparatively very low as 1 to 2 lacs maximum in the case of governmental insurance providers, but it goes way up to 15 to 20 lacs in case of private insurers. But limitations come along in both cases. The premium is higher and co-payments can be asked by private companies to assist the treatment expense.

Co-payment: The condition with the copayment is the percentage sharing of the claim by the policyholder. In this case, 100% coverage doesn’t get fulfilled.

Maximum Age Of Renewal: Most of the insurers allow insurance policy for the citizens falling in the ages extremities of 60 years and 80 years. While some of the companies extend it maximum to 69 years, some don’t allow any restriction on age and welcome seniors of all age groups to avail the insurance. The plain is issued for a maximum of one year and then premium charges keep it going further. The max age is 90 years restricted by all the companies after which individual has to new the plan in order to continue the insurance.

There are plenty of public as well as private companies which provide insurance to the senior citizens. However, the policies vary from person to person and company to company. Religare is one of the leading players of insurance agencies, and the long record and customer satisfaction outstands the company in managing a positive background all through the journey.