Buying health insurance for senior citizens: How to lower your premium
It is also posing a challenge before senior citizens who pay
a higher premium to get the cover. However, the elderly can bring down their
insurance premiums by employing smart strategies.
Higher deductibles option
To begin with, they can explore the higher deductibles
option. This measure can help slash premiums by around 10-20 per cent.
Co-payment option
They can also consider the co-payment option, where they
will pay 10-50 per cent of treatment costs. So, for instance, if you opt for a
10 per cent co-pay on an Rs 2 lakh hospital bill, you will pay Rs 20,000, while
the insure will cover the remainder. Besides these strategies, seniors can
combine their base plan with a top-up to avail themselves of extended coverage
at relatively lower costs than purchasing a new policy.
For More Details: Pooja Manoj Gupta, visit www.giia26.com
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