ManipalCigna recently launched a ‘Prime Senior’ plan that gives flexibility with lower waiting periods and provides coverage for pre-existing disease conditions from 91st day onwards. Sikdar says understanding the evolving needs of seniors and the rising medical inflation, this pivotal change is an opportunity to extend our unwavering support to the elderly in safeguarding their health and well-being.
Siddharth Singhal, Business Head, Health Insurance at Policybazaar.com, highlighted the significance of removing age restrictions in health insurance policies that opens up access to comprehensive health coverage for senior citizens. He made it clear that while age restrictions are lifted, standard terms and conditions, such as waiting periods, would remain consistent for all policyholders.
Moreover, he recommended that individuals purchasing new policies should precisely examine the policy particulars, such as limitations on room rent, co-payment obligations, and restrictions on certain treatments. This comprehensive assessment ensures that policy buyers understand the extent of their health insurance coverage and can make well-informed choices. He also mentioned that this regulatory move fosters inclusivity, simultaneously it would also encourage insurance companies to innovate and develop insurance products tailored to the diverse needs of different age groups.
