Best Mediclaim Policy for Senior Citizens in India
Age raises the risk of contracting either mild or severe illnesses. If you don't have enough health insurance, hospitalizations can really drain your retirement savings. If you haven't already, getting the right senior health insurance should be on your list of financial goals. It has many benefits, including broad coverage, cashless hospitalization, coverage for pre-existing conditions, coverage for daycare costs, ambulance coverage, and free annual medical tests, all of which could save you a lot of money. The following are our top picks for the best medical insurance policy for seniors in India.
Senior citizens over the age of 60 are covered by a health insurance policy designed specifically for them. These policies offer more coverage than standard health insurance policies. Costs associated with daycare, robotic surgery, critical illness treatment, ambulance transportation, a no-claim bonus, coverage for pre-existing conditions, and annual health examinations are all covered. These plans cover everything because they only cover the needs of older people whose health seems to be more susceptible to serious or minor ailments. Consequently, senior citizens in India must have the best health insurance available to them.
The ability to save money on taxes on premiums paid by people over 60 is one significant advantage of having a senior citizen health insurance plan. Under section 80D (2) (b) of the Income Tax Act of 1960, each senior citizen parent is eligible for a 25,000 INR tax incentive. A preventative health checkup for 5,000 INR is also covered by this benefit. INR 1 lakh is the maximum amount a senior citizen can deduct. In any case, on the off chance that you are not senior resident and are paying the clinical insurance payments for your old guardians. After that, you can subtract up to INR 75,000 from your earnings.
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