A health insurance policy is necessary for senior citizens to protect them against high healthcare costs during their golden years.
“Healthcare costs are constantly rising in India. Reports say India’s medical inflation is increasing at 15% every year; almost double the overall inflation rate. It means that a heart surgery that costs ₹2 lakh today will cost approximately ₹5 lakh after seven or eight years.”
Hence, a health insurance policy becomes a necessity for every individual. It protects the insured person from incurring exorbitant healthcare expenditures and ensures that he/she gets necessary medical treatment when required. For senior citizens, a health plan becomes even more crucial since their bodies are weak and more prone to illnesses, infections and injuries.
If statistics are to be believed, around 47% of India’s senior citizens suffer from at least one chronic disease, such as diabetes, depression, asthma, arthritis or angina. To protect the elderly from incurring hefty medical expenses, many insurance companies in India have started offering unique mediclaim policies known as senior citizen health insurance plans.
These plans are designed to address the precise healthcare needs of senior citizens, i.e. people above the age of 60. Read on to know why health insurance for senior citizens is necessary.
https://www.icicilombard.com/blogs/health-insurance/hi/need-for-buying-health-insurance-in-india-for-senior-citizens
