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Senior Citizen Insurance seniorcitizenlove.com/2019/07/senior-citizen-insurance.html

Senior citizen insurance is used by people who are 65 years old or above. The reason why this is a separate category of insurance is that senior citizens tend to have more health-related troubles, compared to younger people.

Therefore it is important for a senior citizen to find the right type of insurance. They need to find insurance that is both affordable and offers good coverage for their specific needs. Seniors do need insurance for the simple reason that Medicare only provides partial coverage. The thing to do here is to find out exactly what medicare covers and then have secondary insurance to cover other expenses. An example would be, Medicare part A will cover some of their inpatient care, nursing home care and some health care. Medicare part B covers some types of outpatient hospital care, medical equipment, and occupational therapy.

However, medicare of any type will usually not cover annual physicals. In order to get this, the patient may have to get the senior health insurance. This is why it is important to check with your broker and see what exactly is covered by medicare before getting insurance.

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With the use of the internet, it is easy nowadays to find an insurance company that gives affordable rates. Although before getting your senior citizen insurance coverage, it is always better to talk to an agent before signing anything. Senior citizens can also qualify for some life insurance plans. There is a common misconception that seniors do not have anybody directly dependent on them, therefore they do not need life insurance policies.

This is simply not true in all cases and should be discussed with your insurance agent or broker. The idea behind life insurance is to give financial protection for family members. This way they are not left to pay for the funeral and any unsettled debt that is left behind.

When it comes to the unfortunate situation, such as a loved one's demise, you will want to be sure everything or everyone is taken care of. This is especially true if the person leaves behind a spouse and, or children. The surviving wife or husband will have many expenses such as rent and health insurance. In this case, a life insurance policy will be of great help for the surviving family member or members to take care of the daily, weekly, or even monthly living expenses.

Health Insurance - Boon For Senior Citizens Water, Water everyplace however not a drop to drink!

That was how Senior Citizens felt some years ago when the Health Insurance companies were selective to cater to them. With better medical conditions, people are able to live longer and healthier. However, age does bring some health-related issues that need to be taken care of.

There was a time when people after 50 years of age were generally not considered Insurable or were considered high risk. So, if anyone wanted to get health insurance, the policy was either denied or was issued with various exclusions on Pre-existing diseases.

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With the emergence of various Insurance companies, the Insurance segment for Senior citizens has also opened up. It is a boon for them to be able to plan and take their health in their own hands. Insurance companies have started considering senior citizens as a potential market and address their need for a Health Insurance product. Insurance Regulatory and Development Authority (IRDA) has also taken various steps to boost the inclusion of senior citizens in the health insurance sector. There are some health insurers which cover the senior citizens with no cap on the entry age, though IRDA's directive is to keep at least 65 years as the maximum entry age. The Health Insurance segment is at nascent stage and hence arbitrary at present/dichotomous in nature. Every individual has to undergo medical tests so as to be considered for health insurance. The reimbursement for the medical tests varies from insurer to insurer. Now, all insurers would reimburse 50% of the cost of the tests if they issue a health policy to the customer. However, there still are some companies in the market that cover a senior citizen without medical tests up to a certain age and covers pre-existing ailments from the first year itself.

The Insurance companies would have to include all these clauses in the offer document and explain to the customer what it means to them. With IRDA bringing more transparency, consistency, and accountability in the sector, the customers would have more options to choose from and a better product to meet their needs.

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Senior Citizen Insurance  

Senior citizen insurance is used by people who are 65 years old or above. The reason why this is a separate category of insurance is that se...

Senior Citizen Insurance  

Senior citizen insurance is used by people who are 65 years old or above. The reason why this is a separate category of insurance is that se...

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