Senior Citizen Health Insurance
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What is Senior Citizen Health Insurance?
Senior Citizen Health Insurance is a type of insurance plan that is designed specifically to provide medical coverage for elderly people (aged above 60 years). A separate plan is essential due to the higher health risks associated with senior citizens.
The probability of illnesses and hospitalization increases dramatically in old age. A few days of hospital stay can wipe out a significant part of your savings when you may not have a regular source of income. A mediclaim policy for senior citizens can provide complete financial protection against medical emergencies.
Senior Citizens Health Insurance Plans
The minimum age at entry is 60 years, and there is no upper age limit.
The plan provides the benefit of cashless treatment at any of the network hospitals of the insurance company.
A senior citizen insurance policy offers lifetime renewability and ensures that you have lifelong medical coverage.
Annual preventive health checkups help you monitor your health condition and take remedial action as required.
Why Should You Get Senior Citizen Health Insurance for Your Parents?
Senior citizens have higher health risks as they are more likely to suffer from diseases and injuries. These risks also increase as they age. Many senior citizens do not have any regular source of income, and they are dependent on their children. Rising medical costs have made it prohibitively expensive to avail of good quality healthcare.
A medical emergency can cause severe financial hardships to the entire family. Senior citizens are also more vulnerable to critical illnesses such as cancer, heart attack, and kidney failure. You get financial security and peace of mind when you buy medical insurance for senior citizens.
Features & Benefits of Health Insurance Plans for Senior Citizens
These plans are specifically designed for senior citizens and their special medical requirements.
Health insurance policies offer financial relief to senior citizens during medical emergencies.
Most health policies offer lifetime renewability for senior citizens. This ensures continued medical coverage in old age.
You get complete coverage for hospitalization expenses. This includes pre-hospitalization, post-hospitalization, and in-patient hospitalization expenses.
A senior citizen insurance plan provides cashless treatment at the network hospitals.
Outpatient expenses such as doctor’s consultations, lab tests, and medicines are covered. Most plans also cover domiciliary treatment expenses.
Insurance companies provide a No Claim Bonus (NCB) for every claim-free year. This is a kind of discount that reduces the premium payable on a senior citizen’s health policy.
Most health insurance plans have mandatory pre-medical screening for senior citizens.
Senior citizens can avail of preventive health checkups every year under a senior citizen health policy and save out-of-pocket expenses.
Eligibility Criteria to Buy a Senior Citizen's Health Insurance Plan
Age
The entry age is 60 years. Applicants below the age of 60 can buy regular plans.
Age Limit
There is no specific upper age limit to buy a health insurance plan for senior citizens.
Resident
Only the citizens and residents of the UAE can buy a mediclaim policy for senior citizens.
What are the Documents Required to Buy a Mediclaim Policy for Senior Citizens?
If you are purchasing the policy for yourself:
Copies of your passport and residence visa
A copy of your Emirates ID
Medical reports and any other document specified by the insurer
If you are purchasing the policy for your parents:
Copies of your passport and residence visa
A copy of your Emirates ID
A copy of your parent’s passport
Medical reports and any other document specified by the insurer
What is Covered Under Senior Citizen Health Insurance Plan?
The common inclusions of senior citizen health insurance are given below.
- Hospitalization Expenses: This includes expenses such as room rent, operation theatre charges, ICU charges, cost of medicines & surgical items, doctor's fees, and nursing charges. It also covers certain additional items like prosthetic limbs and orthopedic implants.
- Pre and Post-Hospitalization Expenses: Expenses incurred before and after hospitalization, such as doctor's consultation, diagnostic procedures, and medicines, are covered.
- Daycare Procedures: Several daycare treatments that require less than 24 hours of hospital stay, such as dialysis, angiography, and chemotherapy, are covered.
- Pre-existing Diseases: A medical policy for senior citizens also covers pre-existing diseases after a specified waiting period.
- Domiciliary Hospitalization: The cost of treating elderly patients at their homes is covered if doctors recommend the same.
- Ambulance Charges: The expenses of hiring an ambulance to transport the patient to the nearest hospital are covered.
- Covid-19 Coverage: The expenses of testing, quarantine, and treatment for coronavirus infection are also covered.
What is not covered under Senior Citizen Health Insurance Plan?
The following expenses are not covered under medical insurance for senior citizens.
- Treatment for self-inflicted injuries or suicide
- Treatment for injuries or diseases related to drug & alcohol abuse
- Any health condition (except accidental injuries) diagnosed within 30 days of purchasing the senior citizen insurance policy.
- Expenses related to cosmetic surgeries
- Non-allopathic treatment costs
- Treatment of injuries caused due to war or acts of war
- Pre-existing diseases (until the waiting period is completed)
How to File a Cashless Claim for Treatment?
Select a convenient hospital from the list of network hospitals provided by the insurer.
Get the pre-authorization form at the hospital. Fill it up and submit it to the hospital authorities.
The hospital forwards the request to the insurer to initiate cashless treatment of the policyholder.
The treatment begins after receiving the insurer’s approval. The medical bill is settled directly by the insurance company to your hospital
What To Consider Before Buying Health Insurance Policies For Senior Citizens?
Cashless Treatment
Check whether the insurance company has a vast network of hospitals to provide the benefit of cashless claims for senior citizens.
Claims Settlement
The insurer should have a simple & efficient procedure for processing your insurance claims. A high claims settlement ratio (CSR) gives confidence that most claims will be settled without hassles.
Daycare Procedures
Select a senior citizen health insurance plan that covers most daycare procedures like dialysis, cataract, etc., which require less than 24 hours of hospitalization.
Free Preventive Health Checkup
The best medical insurance for senior citizens offers free health checkups every year. This can help you reduce your out-of-pocket expenses.
No Claim Bonus (NCB)
Insurance companies declare a no-claim bonus to policyholders who do not make any claim in a policy year. This discount helps you reduce the premium payable in the subsequent year.
Lifetime Renewability
Select a health insurance plan that offers a lifetime renewability feature. This ensures that you have continued medical coverage in your advanced years.
Waiting Period
Select a health insurance plan that has the least waiting period for pre-existing diseases. A longer waiting period is highly disadvantageous for senior citizens.
Domiciliary Hospitalization
Senior citizens with certain health conditions may not be able to get treated at hospitals. Domiciliary hospitalization coverage pays for home treatments if recommended by doctors.
Frequently Asked Questions on Medical Insurance for Senior Citizens
Yes. You can buy a senior citizen’s health insurance policy in the UAE if you have crossed 60 years.
Yes. Senior citizens generally have higher health risks. They are more vulnerable to critical illnesses such as heart attack, stroke, and kidney failure. So insurance companies insist on pre-medical screening for senior citizens to evaluate their health and assess the risk factors.
Yes. A senior citizen’s insurance policy covers critical diseases. If they are not covered under the basic plan, you can buy an add-on cover by paying a nominal extra premium.
The premium for a senior citizen health policy starts at around AED 4,500 in the UAE. But the premium can vary depending on your age, sum insured, and pre-existing medical conditions.
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Disclaimer: The Senior Citizen Health Insurance or plan may have limitations, exclusions, and other terms and conditions that may affect coverage. It is important to carefully review the policy wording before making any decision.