Looking At Senior Citizen Health Insurance In The Times Of COVID 19
The newly discovered novel coronavirus still has most of the world on lockdown with over 11 million people infected. Medical professionals and researchers are working non-stop to help contain the infection, treat patients, and learn more about this strain of the coronavirus. Even as we wait for a vaccine to be found, one thing is clear – the elderly people constitute a high-risk group for complications resulting from a coronavirus infection.
In these times, comprehensive health insurance is the only safety net that can protect your finances against hefty medical bills. And, as the news reports show, treatment for a COVID 19 infection can prove costly. With that in mind, let’s look at what senior citizen health insurance should look like for complete coverage in these times.
- A substantial coverage amount
When buying health insurance, most people wonder what the ideal coverage amount should be. Afterall, you don’t want to be paying a higher premium for coverage you may never claim. At the same time, you don’t want to risk being underinsured. At a younger age you may take a risk and gamble around with the coverage amount by slowly increasing it each year. However, senior citizens are advised to immediately opt for the highest coverage they can get. Ideally, a senior citizen health insurance plan should cover the policyholder for at least Rs 10 lakh or more. Treatment at a private hospital due to a COVID 19 infection can cost you close to 1 lakh rupees per day. In such a situation, a basic health insurance policy of around Rs 3 lakh would hardly suffice.
- Access to a wide range of network hospitals
In times like these, easy access to treatment is the need of the hour. If you test positive for the novel coronavirus, you do not want to be traveling to a hospital that is almost an hour away from where you live. An unnecessarily long travel time can be especially trying for a senior reeling under symptoms such as breathing difficulties or high fever. So, always opt in for a senior citizen health insurance provider with a wide range of network hospitals that are located around where you live. This convenience can be life-saving doing a medical emergency.
- Inclusion of critical illnesses
A COVID 19 infection may possibly result in an onset of additional health complications. Which is why you must ensure that your senior citizen health insurance health plan covers you against critical illnesses too. Do be sure to ask your insurance provider if you can include critical insurance as an add-on in your health policy or whether you need to purchase separate coverage. Critical illness plans give policyholders a lump sum payout upon diagnosis and this amount can truly help a senior policyholder meet their financial obligations as they receive required treatment.
Till such time that a vaccine is found, we must do our part to stay safe from the widespread infection. Do maintain the practise of social distancing, eat healthy, and stay in touch with your loved ones. We hope this article has helped you.