Insurance is something each of us needs like an umbrella you always carry for that one day when rainfall strikes. But senior citizens need insurance more than others.
Mumbai,June 3, 201:
Growing up, we had our parents’ backing, be it financially or otherwise. During our college days when we would exceed our usual monthly expenditure, it was comforting to know that we could always ring up our parents and convince them to transfer more cash to our account. However, as we step out on our own and grow older and wiser, the safety net of our parents disappears while the expenditure graph seems to be ever-increasing. Add to the daily expenses the unforeseen major expenses, such as for health problems or accidents, we soon realise we need to find another safety net as soon as possible. This is especially true for senior citizens, who are over 60 years, and who tend to suffer from a host of health problems and diseases. This is where insurance comes into play.
Insurance is something each of us needs like an umbrella you always carry for that one day when rainfall strikes. But senior citizens need insurance more than others. Here is why insurance happens to be the best bet for senior citizens:
For a safety net
Insurance may be a hassle you grumble about every year, but it pays off when you actually suffer from an illness or in case of an emergency. The purpose of insurance is to have a safety net to provide for your family and loved ones even after your demise. It ensures that you do not neglect or undermine any health issues suffered by you or your loved ones during your senior years simply because you do not have adequate funds for quality healthcare that you deserve. Hence, senior citizens should take up insurance simply because it will be an investment for the future and will safeguard you financially in the case of unforeseen events.
The ticking clock
A senior citizen over 60 may not have as many years to live as his younger counterpart. As such, leaving behind your spouse (who is also most likely a senior citizen) and children or other dependents or loved ones with no financial security to rely on should simply not be an option. So life insurance at this age really is a major requirement, if only for the sake of your loved ones.
Health insurance a must
Prevention is better than cure in case of health problems, but let’s be honest: a senior citizen will likely have health problems sooner or later and he will require adequate cure and healthcare. In today’s era, medical costs for even the most ordinary procedures are surpassing imaginable highs. Add to this the unhealthy lifestyles, the sedentary routines we are committed to and the external factors such as weather conditions and pollution, impacting our health. As a senior citizen, you are more susceptible to health problems and diseases. Health insurance, thus, is an absolute must for a senior citizen. Also, in the golden years of 60 or above one wishes to travel. Thus, travel health insurance also becomes a necessity.
Money matters
By 60, most people have already retired. With no steady source of income, one usually has only their pension and retirement benefits to fall back on for day-to-day expenditure and life. In such a case it is unimaginable to have to immediately spend a massive lump-sum for a major accident or sudden health problem that occurs in one’s life out of the blue. A person with insurance against the same unforeseen events would not have to think twice about the finances and can focus simply on getting better as soon as possible.
Premium less troublesome
At 60 or more, one’s family responsibilities have usually been met. A senior citizen often does not have to worry about things such as building a house, paying for his/her children’s education or settling down dependents. Therefore, an annual premium is not usually as much of a problem as it would be for, say, a young professional who is just starting out in life. That annual premium may be a slight inconvenience, but it can go a long way in making your financial troubles disappear!
Policies on offer for Senior Citizens
India, like most other countries, has a good market of insurance policies for senior citizens today, with a wide variety of choice of policies and highly competitive insurance giants, leading to better quality policies, benefits and services. Given below are the features of some of the prominent and successful insurance policies for health insurance of senior citizens:
However, one must conduct one’s own research to find the insurance policy that is best suited to their needs, requirements and situation. Don’t procrastinate, get that insurance policy now!
Mumbai,June 3, 201:
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| Over 60 years of age: Insurance is something each of us needs like an umbrella you always carry for that one day when rainfall strikes. But senior citizens need insurance more than others. |
Insurance is something each of us needs like an umbrella you always carry for that one day when rainfall strikes. But senior citizens need insurance more than others. Here is why insurance happens to be the best bet for senior citizens:
For a safety net
Insurance may be a hassle you grumble about every year, but it pays off when you actually suffer from an illness or in case of an emergency. The purpose of insurance is to have a safety net to provide for your family and loved ones even after your demise. It ensures that you do not neglect or undermine any health issues suffered by you or your loved ones during your senior years simply because you do not have adequate funds for quality healthcare that you deserve. Hence, senior citizens should take up insurance simply because it will be an investment for the future and will safeguard you financially in the case of unforeseen events.
The ticking clock
A senior citizen over 60 may not have as many years to live as his younger counterpart. As such, leaving behind your spouse (who is also most likely a senior citizen) and children or other dependents or loved ones with no financial security to rely on should simply not be an option. So life insurance at this age really is a major requirement, if only for the sake of your loved ones.
Health insurance a must
Prevention is better than cure in case of health problems, but let’s be honest: a senior citizen will likely have health problems sooner or later and he will require adequate cure and healthcare. In today’s era, medical costs for even the most ordinary procedures are surpassing imaginable highs. Add to this the unhealthy lifestyles, the sedentary routines we are committed to and the external factors such as weather conditions and pollution, impacting our health. As a senior citizen, you are more susceptible to health problems and diseases. Health insurance, thus, is an absolute must for a senior citizen. Also, in the golden years of 60 or above one wishes to travel. Thus, travel health insurance also becomes a necessity.
Money matters
By 60, most people have already retired. With no steady source of income, one usually has only their pension and retirement benefits to fall back on for day-to-day expenditure and life. In such a case it is unimaginable to have to immediately spend a massive lump-sum for a major accident or sudden health problem that occurs in one’s life out of the blue. A person with insurance against the same unforeseen events would not have to think twice about the finances and can focus simply on getting better as soon as possible.
Premium less troublesome
At 60 or more, one’s family responsibilities have usually been met. A senior citizen often does not have to worry about things such as building a house, paying for his/her children’s education or settling down dependents. Therefore, an annual premium is not usually as much of a problem as it would be for, say, a young professional who is just starting out in life. That annual premium may be a slight inconvenience, but it can go a long way in making your financial troubles disappear!
Policies on offer for Senior Citizens
India, like most other countries, has a good market of insurance policies for senior citizens today, with a wide variety of choice of policies and highly competitive insurance giants, leading to better quality policies, benefits and services. Given below are the features of some of the prominent and successful insurance policies for health insurance of senior citizens:
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