Indians have always neglected nutrition, exercise, and mental health. People start suffering from auto-immune diseases due to poor lifestyle choices. Heart diseases, cataracts, asthma, and oral cancer are some of the diseases covered by health insurance. Treating these life-threatening conditions might be expensive, but your family members need to have a comprehensive health insurance plan.
No one wants to get diagnosed with an ailment. But the ugly truth is that there are several lethal illnesses that can plague you in your lifetime. Without insurance, you will have a pile of medical bills that will drain your savings. That is the reason why we always tell the commoners to opt for Mediclaim Health Insurance. It is not wise to skip medical insurance as it saves you from paying exorbitant medical bills in the long run.
Although Mediclaim premiums are expensive, you should go for them. Here are a few reasons why going for mediclaim makes sense:
Varied Medical Conditions Are Covered
People in the family falling sick due to age-related issues is quite natural. The immune system weakens as people go past their prime. And older adults become more susceptible to ailments/ diseases. This is the reason we see family members over the age of 60 falling ill often. Some may have to be hospitalized, and that’s when medical expenses shoot up. Why spend extra cash paying doctors and hospitals when there is a better alternative? Yes, we are talking about the Mediclaim policy. Many insurance companies offer Mediclaim plans that cover a wide gamut of diseases. Yet, you should compare and choose the insurance policy that best meets your family needs.
Not every insurance policy fits everyone. Some health insurances are pretty basic, while others cater to critical illnesses. So, always go for an insurance policy that fits your needs and is ideal
for your family.
Mediclaim Plans Are a Cost-effective, Long-term Financial Strategy
Medical emergencies won’t come with a warning. These occurrences are unfortunate and unexpected. Such a situation can drill a hole in your pocket. As per the Times of India, 1 out of 5 Indians sell, borrow and seek help to pay exorbitant hospital bills. This happens especially when older adults get hospitalized. Because of their low immune system, older people encounter several health problems. But after retirement, the elders in the family often have no source of income. This leaves them stranded during a medical emergency. For that reason, we always suggest that if you have an old parent at home – get health insurance as soon as possible. At the onset, insurance policies might seem too expensive, but they can save you lakhs of money in the long run.
Need for Customized Health Insurance Plans
People from different age brackets suffer from various health issues. The health-related problems faced by a 30-year-old adult are much different from what a 60-year-old has to face. Senior people suffer from life-threatening health conditions which need extensive medical treatments. Knee replacement surgeries and cataract operations are common among the elderly. All these major operations are not cheap.
Moreover, reputed hospitals and medical centers are not at all affordable. And that is the reason why premium Mediclaim plans are most recommended. These healthcare plans offer coverage of a wide range of ailments that is specific to people over 60. Yet, you should choose a customized insurance plan keeping futuristic things in mind.
Now Let’s Discuss a Few Things That You Can Consider When Choosing a Mediclaim Plan for Your Family:
The elderly in your family may have enough savings to last them and your people for a lifetime. He/ she might have saved enough to pay for any emergencies, but life is unpredictable. It is important to understand that the savings can dry up sooner than people expect. In such a scenario, if you have a health insurance/ mediclaim plan, it can help you pay the medical bills without hurting your pocket.
When opting for a mediclaim policy, always go for one that offers coverage for critical illnesses. Daycare treatments, psychiatric, and domiciliary care procedures should also be a part of the mediclaim. A good mediclaim policy should also include complimentary periodical health checkups. It should have a lower waiting period for pre-existing conditions/ illnesses. Lastly, go for a policy with a good network of hospitals & appropriate payment clauses. It should not have any caps in terms of room rent and should have a high claim-to-settlement ratio.
Here Are a Few Things to Note Before Purchasing Mediclaim for Senior People in the Family:
Buy a Comprehensive Insurance Coverage With a Lower Waiting Period
A comprehensive mediclaim with a low waiting period is ideal for every family. Such a policy offers full coverage. This way, it helps curtail all medical expenses. If you don’t go for a comprehensive coverage policy, you will have to pay a certain sum out of your pocket to meet the medical expenses. This may not be feasible for many. That’s why we recommend getting a policy with full coverage – to meet your family’s medical needs.
There’s more to it! People with pre-existing medical conditions often complain about long waiting periods. This is an aspect worth considering. If you need to wait for a long time to submit your claims to the insurer, consider not buying that mediclaim. Do proper research when zeroing in on the policy coverage and waiting period before laying hands on one.
Buy a Policy That Has Low Co-payment With a Vast Network of Affiliated Hospitals
A good mediclaim company should have a vast network of affiliated hospitals. A patient can get admitted and avail cashless treatment when the insurance company is well-connected with a wide network of affiliated hospitals. This reduces the hassles of making an upfront payment during emergency hospitalization.
The insurance policy should also have a low co-payment clause. The co-payment clause enters the scene when an insurance company wants to reduce liabilities. This co-payment clause usually comes in when you buy mediclaim policies for senior citizens. This is because senior citizens have pre-existing health conditions, increasing the liability of the insurance company. Choose a low co-payment insurance policy to lower the claim amount. However, you might have to choose a high-premium insurance policy to avail the low co-payment clause.
Final Words
Mediclaim policy for family members is non-negotiable. Neglecting this aspect can be detrimental as you might have to pay ridiculously high medical bills in the future. So, checking out mediclaim plans and making a smart choice is highly recommended.