10 Amazing Benefits of Dry Dates (Chuara) in Daily Life | PayBima
1448
5 min read
If we have learned anything from the last couple of years it is that life is even more unpredictable than we had thought it would be. You can have health issues at any time and you need to be adequately protected against them.
In most cases, the companies that sell these policies in India have a limit of 65 years beyond which you cannot buy such a policy. If you are over that particular age limit you would have to buy a comprehensive plan for senior citizens. However, you can be sure with these plans that you would get coverage for a wide array of medical expenses.
In most of the health insurance plans in India, you normally have variations with regards to the minimum age at which you can enter the policy. However, usually, there are no upper limits in these cases as such. In fact, you would also come across insurers that are offering plans to people who are older than 80 years! However, you need to confirm this with your insurer before you actually sign on the dotted line. This is because there are several insurers out there that do not cover people over a certain age limit.
Yes, you can most definitely do so. Most of us get ready for old age by making various investments and this includes the best health insurance as well. This makes sure that we are financially in a good position to face any medical emergencies should they arrive.
There are plenty of health insurers in India that offer policies meant specifically for older people so that they have the coverage that they need in these cases. This is where the health insurance age limit becomes critical. These days, there are plenty of plans that you can choose from for your parents keeping in mind the needs they have as well as the budget that you can spare. In most cases, these plans are meant for people in the age group of 60 to 65 years.
These plans do offer several benefits to the insured. However, before you buy them it is important to be clear about the health insurance age limit in India. Still, it is better that you buy these policies as early as you can in life. The main reason for such a statement is the fact that the premium rates of these policies increase with the age of the policyholder. This is because with increasing age our chances of falling ill or developing various ailments increases. This also makes us a riskier proposition as far as the insurers are concerned.
Know More: Health Insurance at the age of 60.
There are several reasons why you must avoid buying these policies later on in life. For starters, the benefits that you get from these policies decrease with advancing age.
In fact, a lot of insurers also include clauses like a mandatory pre-policy checkup and zero coverage for pre-existing illnesses when you buy a health insurance policy at a later stage in your life. This is the reason why buying these policies as early as you can makes so much sense. Let us look at some of the issues that arise when you do not buy these policies early on:
As we have said already, if you buy these policies later in life you have to pay a high premium. In the context of the health insurance policies people older than 50 years are considered to be high-risk individuals and this is why insurers ask for higher premiums to cover them. In most cases, health insurers in India place limits on the total money that you can claim in various cases in a policy in a definite period. This is normally done for people who have been detected with pre-existing conditions following the obligatory health check-up. Even as you get older the insurers offer fewer benefits on the health insurance plans.
The insurers do not like to offer optional covers and higher coverage easily because when you are old your chances of developing a health ailment are higher. If you buy a health plan you may have to deal with a waiting period of around two to four years, which makes it useless for people who need coverage for urgent treatment for a serious ailment. When you are young this period is shorter and it gets over quicker following which you can make a claim easily. In most cases, health insurers do not cover pre-existing illnesses unless you have not bought any add-on coverage for the same or if it is not a special plan as such.
It is not enough to know what the age limit for health insurance is. You need to know these things as well.
Conclusion
When you get older you have to deal with more health risks and that means that you need more medical assistance. However, you need not worry even if you have not been able to buy health insurance at a young age. These days, you have many insurers offering health insurance policies that are meant specifically for older people. They should be more than adequate as far as meeting your medical needs is concerned. However, we would still suggest that it is better that you buy these policies as early as you can in life. This would make sure that you do not have to deal with any financial burden or disappointment at a later stage in life.
Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance, and Investment section. You can visit PayBima to Buy Insurance Online.
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
AYUSH treatments have recently generated massive popularity as an emerging branch of medicine. Looking at the increasing demand for the treatment, it has become imperative.
The year 2024 started with some groundbreaking measures and initiatives in the health insurance sector to facilitate policyholders with better health coverage and benefits. One.
Our knee is an important joint in the entire musculoskeletal system. The support and strength of the knee are pivotal for fluid movement and locomotion..
Updated on Jan 30, 2024 Understanding how OPD and IPD are two different terms in medical science, their coverage in health insurance plans and the.
Updated on Jan 23, 2024 February 10 marks the National Deworming Day observed every year across India. Let us understand the importance of deworming and.
Insurance is an indispensable requirement. However, not everyone can afford individual medical insurance to stay covered against major uncertainties, especially after retirement. If that is.
Updated on Feb 22, 2024 World Cancer Day aims at educating people and spreading awareness about detecting cancer and its prevention and treatment. Let us.
Updated on Jan 23, 2024 Rare Disease Day is an occasion observed on the last day of February every year. This year February 28 marks.
Cancer is a disease that needs no introduction. We all know how deadly the disease is and how rapidly it is spreading across the world,.
Updated on Jan 30, 2024 What is Insurance Regulatory and Development Authority (IRDA)? - Know in Detail The Insurance Regulatory and Development Authority of India.
Speak to our advisor
Mahindra Insurance Brokers Limited (A Mahindra Group Company) - Unit-202, A-Wing, 2nd Floor, Amiti Building, Agastya Corporate Park, Kamani Junction, LBS Marg, Kurla West, Mumbai - 400070. Tel: +91 22 66423800
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2024 Mahindra Insurance Brokers. All Right Reserved.
Verify your number to activate your best premium offer
Please enter the OTP sent to XXXXXX 4099 to continue