Senior citizen’s Mediclaim policies come with a range of benefits for the elderly. These help to cover the expenses related to hospitalisation, surgery, critical illness-related expenditure, accidents, pre-existing diseases, etc. If an individual opts for policy renewal then benefits can be availed till 80 years of age and these also offer lifetime renewal benefits.
Here are some of the key benefits that can be availed from senior citizen Mediclaim policies:
- Medical Cover – People who are above 60 years of age can get health cover by opting for senior citizen health insurance plans instead of basic health plans which offer benefits only up to 65 years of age.
- Pre-Medical Screening – Most of these plans do not require pre-medical screening. Some plans may require pre-medical tests on a case-by-case basis.
- Cashless Treatment – Senior citizens can benefit from a cashless treatment facility in some of the best hospitals. This can be availed if the patient has been admitted to the hospital for a minimum of 24 hours. The facility will include medical bills, doctor fees, room charges, etc.
- Medical Expense Cover – These policies cover pre-hospitalisation, post-hospitalisation, and also in-patient hospitalisation expenses.
- No-Claim Bonus – This comes in the form of a discount offered by insurers. It is applicable for all claim-free years and ranges anywhere between 20-100% in some policies.
- Tax Benefits – Most senior citizen health insurance policies come with tax benefits that can be claimed under section 80D of the Income Tax Act. Premium paid towards these policies is also eligible for benefits every financial year.