After working hard in the initial years of life most people do have a desire of living a stress-free retired life. With technological as well as medical advancements the life expectancy rate has also taken a sharp rise. But everything comes with a price and here the cost that needs to be paid is pretty high.
Medical expenses are on a rise which means long life is going to cost us a fortune given that it’s tough keeping up with the inflation. The amount which used to be adequate to keep with the market value a few years back won’t meet up our needs in the coming times. So it becomes very obvious that this whole thing is going to become a big post-retirement corpus as most human bodies do need to visit hospitals more frequently just when they start struggling to get over with their mid-life crisis. Availing the best and affordable medical treatment has always been tricky plus after retirement, it would be huge financial drainage. But getting your health insured can always help you get rid of these worries.
Speaking of health insurance, people always tend to get confused about which policy to opt for. Choosing insurance that suits you and your family is not always a cakewalk because one needs to pick a policy keeping in mind the specific needs. Few aspects that one needs to consider before deciding which policy you take are:
- Premium
- Out of Pocket expenses
- Ailments covered
- Acceptability in hospitals and specialists
But for a stress-free retirement life its best to invest in senior citizen health insurance as they come with many more benefits than the regular one. Want to know how this becomes a boon in your life? Then keep reading.
Benefits of Senior Citizen Specific Policies
Here are the benefits of retirement policies:
Shorter Maturity Period
These age-specific policies have one major advantage of a short waiting period of around one to two years instead of four years which goes with the regular policies.
Covers Pre-Existing Ailments.
There is a possibility that a regular policy may not cover the pre-existing ailments and availing treatment for them may become huge stress and financial drain. But senior citizen specific health policies have them covered as well and your won’t even need to get yourself tested again to get treated.
Other than these two main ups, these health policies also cover the post-hospitalization costs and daycare procedures that can be covered in a day or less.Pandemic or no pandemic, health is something that cannot be compromised with anything at any cost. But in this ongoing COVID crisis the healthcare struggles have taken a scary form. In such situations, a dedicated health insurance policy can be of great help. With such schemes, one can avail up to 4000 network hospitals completely cashless and claim tax deductions up to 35000 under Section 80D.
Good health insurance is a must nowadays as it can go a long way in ensuring the wellbeing and safety of all our near and dear ones.
