What variety of medical health insurance is best for seniors?

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I’m nearing retirement and up to now I used to be covered under my corporate insurance policy. I’ll retire in the following 1 12 months and my age is 58. Please suggest a great health Insurance plan for me and my wife (55) as we each are senior residents. Should we go for senior residents specific plans or the conventional health Insurance plan? What cover should we have a look at buying? We do have PEDs- I’m a heart patient & my wife is diabetic.

– Manohar Kumar

Life after the age of 60 is taken into account as a latest innings with the least responsibilities and maximum time for self and family. Medical health insurance – at any age – just isn’t only vital if you will have regular high medical bills to pay but in addition because one needs a financial safety net. Talking about your situation, you & your wife each have PEDs, it’s possible you’ll select from ABHI- Activ Health Platinum Enhanced Chronic Plan, Prime Energetic – Manipal Cigna & Energy by HDFC Ergo for diabetes. For heart ailments – Care Heart Plan from Care Health Insurance or Star health Insurance – Cardiac Care.

I’m 28 years old, I actually have a company insurance policy of three lakhs. I recently got married & my wife just isn’t covered under any medical health insurance policy. She’s 27 years old. I would like to purchase a health Insurance policy that would cover each of us. Please guide, the right way to go about it and what needs to be the best amount I should have a look at buying.

It’s good that you must cover yourself & your wife under a comprehensive medical health insurance cover. Considering medical inflation and the uncertain environment we live in, 3 lakhs sum insured could be very less. It’s best to not less than have 10 lakh sum insured to address rising medical bills. Since you lately got married it can be crucial that you simply consider the maternity profit while deciding which plan to go for. Maternity advantages in your medical health insurance coverage are designed mainly for expecting couples to guard them from costs incurred during delivery. Some plans value considering are Care Health Insurance’-Joy Today/Joy Tomorrow, Niva Bupa Health Premia & Future Generali Super Saver Plan. One should all the time have a retail health Insurance over & above their corporate health Insurance policy.

Queries answered by Sanjiv Bajaj, joint chairman and managing director, Bajaj Capital. Write to us at mintmoney@livemint.com to get your personal finance queries answered from experts.

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