Very few companies in India offer medical benefits to senior citizens, as the risk of covering their clinical expenditure is very high.
This is a basic Mediclaim only for senior citizens. However there would be a lot of exclusions and obtaining the claim will not be easier. In this case, the clause for Non-Disclosure or Misrepresentation would be taken strictly.
Under Section 45 of Insurance Act 1938 states that if the company comes to know that there is a Non Disclosure or Misrepresentation of Material Fact, then the company can call the policy null and furthermore void ab initio. It means that if the company comes to know that the policyholder has lied or has not disclosed any important data, necessary for comparing the risk of the individual, and so the policy can be terminated from the beginning and furthermore the claim can be renounced!
So, in this type of insurance policy, one has to be very strict regarding revealing all appropriate information, whether asked or not. Normally in Senior Citizen Health Insurance the Mediclaim cover is not more than a lakh or so. It more or less suffices for an individual persons hospitalization expenditure for a year. In several cases even preexisting diseases are covered after several years of continuation.
Certain policies also cover Critical Illness at an extra premium.
* Diseases treated under Critical Illnesses are as under:
* Coronary Artery Surgery
* Cancer
* Renal Failure i.e. Failure for both kidneys
* Stroke
* Multiple Sclerosis
* Major Organ Transplants like kidney, Lung, Pancreas or Bone marrow
* Paralysis and blindness
There are various companies that render insurance for senior citizens, however one very good sample of Senior Citizen insurance is Varistha Plan from National Insurance.
For further assistance you can visit Insurance Comparison website like MyInsuranceClub.com that allows you to review health insurance in India in India and get the policy best suited for you or your family.
This certainly is a quite strong and furthermore superior tool for the elderly people for their medical and hospitalization advantages as lots of facilities are included under the same that can be effectively used.
