How do Senior Citizen Health Insurance Plan Work?
Let’s take an example to demonstrate the working of a senior citizen health insurance plan. Ravi is a middle-aged professional with a wife and two children. While Ravi has a corporate health cover and an individual health cover to cover his wife, children, and himself, his dependent parents are left with no health insurance. Ravi’s father suffers from diabetes, and his mother also suffers from a few ailments. Ravi realizes that it is time for him to purchase a Senior Citizen Health Insurance Policy for his parents. After comparing the various senior citizen plans offered by insurers in the city, Ravi zeroes in a plan that offers a comprehensive health cover. Ravi’s parents go in for a medical examination and get approved for the policy. Ravi chooses an optimum Sum Insured, for which he has to make a payment of around Rs.8,000 per month. Now, Ravi’s parents can avail cashless hospitalisation or have the insurer reimburse their hospitalisation expenses, whenever the need arises.