Senior citizens in India just like any other people need to have an insurance policy that will look into their important needs like health. If you are wondering about the right Senior Citizen Insurance policy in India then you have come to the right place. Below are some of the insurance policies that will help senior citizens enjoy their life after retirement everyone can get PF amount and check the PF Balance statement by UAN Login.
Health insurance for Senior citizens
Before buying a health plan, you will first have to consider your annual medical bills together with the necessary health care. This is mainly because senior citizens have to pay a huge amount of money from anywhere between Rs.20, 000 to Rs.30, 000 in health insurance premiums. However, the amount of money that you pay will depend on the health of the insured together with policy benefits.
Senior citizens should therefore get a health insurance policy since they are highly prone to serious illnesses or ailment which can prove expensive to treat. By buying a suitable health insurance policy, you will benefit from financial cover whenever you fall sick.
Life Insurance for Senior Citizens
Senior citizens may have paid off their debts be it a home loan or business loan once they retire. However, you need to make use of senior citizen life insurance plan especially if you current financial situation is not favourable. By doing so, you will never leave your spouse or children with huge debts to repay in case of your demise. This is because your life insurance plan will help in clearing all your bills.
Travel Insurance for Senior Citizens
Travel Insurance is a must have for Senior Citizens especially if you travel abroad on a regular basis. This is because you may end up spending a lot of money in case you need a medical care while on a trip. However, with your travel insurance plan, you will be able to pay all the bills without encountering any difficulty
It is highly advisable that you make use of an investment option that will cover all your financial demands during old age. Some of the best investments options for Senior citizens include:
Senior Citizen Saving Scheme
The senior Citizen Savings Scheme (SCSS) is mainly set aside for Senior citizens of India. This is one of the most efficient ways of saving for a long term since it offers security together with added features which are closely linked with government sponsored savings schemes.
Post Office Term Deposit
The Post Office Term Deposit common referred to as Post Office Fixed Deposit is an investment opportunity under the Post Office Savings Scheme. This scheme has a tenure of close to 5 years with a maximum interest rate of 7.80% per annum.
National Savings Certificate (NSC)
Senior citizens in India can make use of the National Savings Certificate (NSC) for small savings and income tax investments. This government savings bond ensures that you get to enjoy your old age without bothering any person. This is because you will have a funding source to depend on in case of an emergency.