For the aged
Most companies, including the specialised health insurance company do not cover people above 50 years. There is no such product available in the market which completely covers aged or senior citizens.
All products for them are very rigid in terms and conditions and costly too. Even if someone takes this policy, he has to pay a lot for it. Further, the existing diseases are not covered under such plans. So, taking such a policy can be avoided. Health policy should be taken at the right age and not pay for it in the form of wrong policies or expensive cover.
Insurance companies are there to do business, and they will keep coming up with different plans to appeal to customersí need but as a customer you should keep your eyes open and undertake a proper research and study about the plan before purchasing the same.
ó Author is CEO, BankBazaar.com