Benefits of Buying Senior Citizen Mediclaim Policy

Buying a mediclaim policy as a senior citizen may be one of the most important purchases you make. Senior citizens often face expenses related to hospitalization, medical tests, surgeries, and more. With the rising cost of healthcare in India, it’s important to have some form of health insurance for protection against such expenses.

Benefits of Mediclaim for Senior Citizens

As we age, our health becomes more vulnerable. Senior citizens are at a higher risk of developing chronic conditions such as heart disease, stroke, cancer, and diabetes. They are also more likely to experience a decline in cognitive function and physical mobility.

Medical coverage for elderly people

These plans typically have lower premiums and higher coverage limits than traditional health insurance plans. And because they’re specifically designed for seniors, they often include coverage for things like prescription drugs, vision care, and hearing aids – which are all important as we age.

If you’re 65 or older, a senior citizen mediclaim policy may be the best option for you. Be sure to compare plans and coverage levels to find the right one for you.

Hospitalization expenses

A lot of times, people think that health insurance is only for those who are working and earning an income. However, this could not be further from the truth. Health insurance is for anyone and everyone who wants to be protected financially in case of any medical emergency – regardless of whether they are employed or not.

Senior citizen mediclaim policies are designed specifically for older citizens who are no longer working and may not have a regular source of income. These policies provide financial protection in case of hospitalization due to an illness or injury.

Cashless treatment

Cashless treatment is one of the key features of a senior citizen mediclaim policy. It allows policyholders to avail of medical treatment without having to pay any out-of-pocket expenses. In order to avail of this benefit, policyholders simply need to present their insurance card at the network hospital and the insurer will settle the hospitalization bill directly with the hospital.

This feature offers several benefits for policyholders. First, it ensures that they do not have to worry about paying for expensive medical treatment out of their own pockets. Second, it makes it easier for them to get timely medical treatment as they do not have to arrange for funds in advance. Third, it reduces their overall financial burden as they do not have to pay anything upfront and can avail of discounts offered by the network hospitals.

Overall, cashless treatment is a great benefit for senior citizen mediclaim policyholders as it offers them financial protection against expensive medical treatment and helps them get timely access to quality healthcare.

No Claim Bonus

A no-claim bonus (NCB) is a reward that insurers give to policyholders for not making any claims during the policy period.

The bonus is usually in the form of a discount on the premium payable for renewing the policy. For example, if you have an NCB of 20% and your health insurance policy has a premium of Rs 10,000, you will only have to pay Rs 8,000 when you renew the policy.

Tax benefits

As we get older, our medical needs tend to increase. This can put a strain on our finances, especially if we don’t have health insurance. A senior citizen mediclaim policy can help ease the financial burden of medical expenses.

Lifetime renewability

A lot of people are not aware that senior citizen mediclaim policies can be renewed for life. This is a huge benefit as it ensures that you will have coverage even if your health deteriorates in old age. It also gives you the peace of mind knowing that you will not be left without coverage if your health insurance company decides to discontinue your policy.


A health insurance policy is important for senior citizens to protect their health and finances. With these policies, seniors can get access to cashless hospitalization, pre- and post-hospitalization expenses, day care treatments, domiciliary treatments, ambulance coverages and critical illness benefits.

Moreover, these plans are affordable and offer flexibility in terms of premium payment options. Therefore if you are an elderly person or family member of one then investing in a senior citizen mediclaim policy is something that you should definitely consider.

Related Articles

Leave a Reply

Back to top button