I am 83 and hale and hearty. My only passion is TRAVEL -- National and International. I have a daily routine to go for morning/evening walks along with light exercises at home.
At the age of 76, I had IMPLANTATION of PACEMAKER and thereafter CABG.
Health Insurance: No insurance company offers me a comprehensive Health policy with ADDS ON. I am offered HEART POLICY without ADDS ON like day care treatment, but EXCLUDING PACEMAKER.
For this, their Premium is Rs.74000.00.
I have no problem whatsoever as far as my Heart and Pacemaker, then why the insurance company can't include day care treatment.
It's quite shocking that in our country, Health insurance is HARD CORE BUSINESS and IRDA and Govt. of India is aware of the happenings in Healthcare Insurance but keep their eyes closed. What a Pity!
Ans: Hi Ashok, it is great to know that you are maintaining a healthy lifestyle and living your life to the fullest. The concern raised by you is legit but the solution to it is simple – Buy the right kind of health insurance policies at an early age. When one purchases health insurance at an early age, the premiums they pay will be lower because their pre-existing diseases will be lesser and will not be considered a high-risk profile.
As our age increases, the chances of health deterioration increase which makes the premiums higher and in some cases a lot of diseases and ailments come with a longer waiting period and PED exclusion lists. During the time of issuance, each insurer analysis the risk via proposal form, medical reports and take decisions accordingly.
Age is an important factor in risk determination by the insurers and considers old age applicants as very high-risk profiles and hence doesn’t provide health policy. Few of the heart policies as said will provide coverage but will exclude the PEDs (pre-existing diseases).
This is why the Govt. of India, IRDAI, Insurers and broking companies like Coverfox Insurance are trying to educate the masses to purchase health insurance policies at a younger age and are constantly trying to inform people of the benefits of Health Insurance and how to choose the correct plan for oneself.
