Senior Citizens 5 Deficiencies you should be worried about in your Policy.

Odoo image and text block

Senior Citizens 5 Deficiencies you should be worried about in your Policy.

Senior Citizens (SC) in India have no social security when they retire or not active professionally and only if someone has retired from the government enjoys pension along with health cover. The retirees or SCs should be careful for the health Policy they hold, if at all they do, as any incomplete policy can be detrimental for the entire family both financially and mentally. Many of you would have a Policy running for years and you wouldn’t have made use of the same in many years in past to realise that the policy you own has deficiencies.  Thus, we are listing below some the deficiencies which are important to understand and in later part we are covering the solution one should look for;


  1. Room Rent Capping:- Very common feature in all the old generation policies specially if you are holding PSU Policy and can hit your pocket hard in case you have to put your policy to use.

  2. Cumulative Bonus:- Floater health policies bought specially from PSUs do not have cumulative bonus added for claim free year, this denies option of enhancement in your SA

  3. Capping in Policy:- Many policies have capping on the amount of claim one would be entitled for some diseases/surgeries listed in the Policy. This can also hit your pocket hard which can bring a situation where the expenses of the treatment is more than the entitlement and the same is required to be paid by the Insured.

  4. Pre and Post Hospitalisation expenses:- The expenses in the old policies are limited to 30 and 60 days which take away many expenses which are incurred before and after the hospitalisation

  5. Co-payment:- Most of the Policies bought by the SCs after the age of 65 have element of co-payment in all the claims. This means for every claim the insured is supposed to contribute 10-20% of the claim amount. It can certainly pinch heavily in a critical ailment as the contribution out of the pocket could be heavy as many other expenses are being incurred which are not in the scope of the Policy.

    The Policies of today which are available for the SCs are very appropriately designed for them to have complete coverage. This not only covers all the features which have restrictions in the policies bought in yesteryears but also gives you many other features which helps you have a complete policy. Below are some of the salient features:

    1.No Room Rent Capping.

    2.Cumulative Bonus is added to your SA for every claim free year.

    3.No co-payment in any claim.

    4.The Policy continues for life long.

    5.The premium gets fixed after age of 70 years.

    6.Annual Medical Check-up for all Insured.

    7.Automatic Recharge of Sum Assured.

    The SCs can buy or port their existing policies only when one is healthy and doesn’t have any pre-existing diseases. Healthy persons with medical test and/or declaration of good health can explore better coverage policies. It can be tricky to find the right product giving you the best suited solution thus it would be prudent to reach out to your Broker for the same.