With so many COVID-19 waves coming every six to eight months, senior citizens are a great health risk. Although the government of the country has done many things and one of them is vaccinating the senior citizens, their risk factors have not been eliminated completely even after two years of the presence of the virus. Since the majority of the senior citizens already have some kind of health issue, if they contract the virus, their treatment may take a longer time and overall it can be expensive also. One of the best ways to save some money while getting the best treatment for elderly people is by buying covid-19 health insurance for senior citizens.
The Insurance Regulatory and Development Authority of India (IRDAI) customized some health insurance policies that provide coverage for coronavirus-related medical treatment at cost-effective premiums. These health insurance policies are not only helpful for the senior citizens but also to the policyholders who bought the plans before they contracted the disease.
COVID-19 health insurance plans for senior citizens are fixed benefit or indemnity-based. Both of these provide protection to the policyholders for costs that are incurred because of treatment for COVID-19. However, the policyholders need to make sure that they get the diagnosis done at a government-recognized center. Apart from the senior citizens, other family members can also be included under these policies. The family members can be your spouse, children who are dependent, parents, and even parents-in-law. However, you must be aware of the fact that the majority of these policies are short-term; thus, do not come with lifetime renewability benefits. Nevertheless, you can buy them with regulated health insurance plans and avail of the benefit of extended coverage against the novel coronavirus.
Coronavirus health insurance policies for senior citizens
Mentioned herein below are some of the best health insurance policies for senior citizens that can help them get the best benefits for coronavirus treatment.
Corona Kavach Policy
It is a standard health insurance policy that protects elderly people from the costs of COVID-19 treatment that they undergo. One of the features of the policy is its affordability, which matters a lot to most people. Senior citizens even up to the age of 65 years can buy this policy. Corona Kavach Policy is a short-term policy that provides coverage to an individual as well as the family. Several coverage benefits can be availed of by you under this policy. A few of the benefits include daycare expenses, hospitalization expenses, pre-hospitalization and post-hospitalization expenses, AYUSH treatments, and many more. You can choose a sum insured between INR 50,000 and INR 5 lakh in multiples of INR 50,000. The tenure of the policy is varied, such as 3.5 months, 6.5 months, and 9.5 months.
Corona Rakshak Policy
This is a fixed benefit health insurance policy that will provide you coverage against the costs incurred due to COVID-19. If you test positive for coronavirus and needed hospitalization, you would receive a lump sum amount. This policy can be purchased by people between the age group of 18 years and 65 years. This is a great health insurance policy for senior citizens; however, they are covered on an individual basis. The sum insured options that are available under this policy are INR 50,000, INR 1 Lakh, INR 1.5 Lakh, INR 2 Lakh, and INR 2.5 Lakh. This short-term policy can be bought for a term of 3.5 months, 6.5 months, or 9.5 months. Even if you have a regular insurance policy, you can still buy this policy to save your hard-earned money.
Arogya Sanjeevani Policy
The maximum entry age for Arogya Sanjeevani Policy for this policy is 65 years. The sum insured under this policy is between INR 1 lakh and INR 5 lakh in multiples of INR 50,000. The coverage provided by the policy includes pre-hospitalization expenses and post-hospitalization expenses, hospitalization costs, AYUSH treatment costs, and ambulance expenses. You can also use this policy for cataract costs for either up to 25% of the sum insured or INR 40,000, depending upon the lesser amount between the two. You will also be able to add other family members such as your spouse, children, parents, and parents-in-law.
To find more health insurance policies like these, you can take a look at the website of IIFL.