Critical Illness Cover – Health insurance for the elderly

Although many of the health issues faced by senior citizens are not

necessarily urgent, such as problems with knees and hips, they are still very much an on going problem.

Those affected are often faced with long waiting lists on the NHS and by the time treatment is available the

problem may have worsened. Senior health insurance is designed to give

those in need fast effective treatment in private hospitals. Many

policies will also provide private rooms and ambulances.

There are three main types of senior insurance plans available:

Basic

A basic insurance plan aims to cover essential treatments and will also provide consultations, tests and

conditions that require an over night stay will also be fully covered. This

means that basic senior health treatment will be offered quickly and effectively at an affordable

price.

Comprehensive

As well as full cover for basic ailments that require an overnight

stay. A comprehensive elderly insurance plan will also provide

treatments, consultations and tests where an overnight stay is not

necessary.

In addition to this comprehensive polices are far more likely to offer services such as home nursing and

private ambulances if they are required. A comprehensive plan will

also offer a greater level of physiotherapy than a basic plan.

Mid Range

The level and range of coverage available with these polices can differ widely between

providers, for example some basic plans will cover for nursing homes, whereas others will

not. With this in mind a number of providers are now offering plans that are positioned in the

middle of the two. With this type of plan customers are able to select specific

requirements or highlight any priorities they may have. With this type of policy customers are

able to choose the most appropriate cover for them.

Before choosing a policy, applicants must take into consideration what they can afford. Even though we all want the best cover available this is not always a viable option. However

in order to make senior health insurance more affordable and

reduce your premiums there are a number of options available.

Six week wait

With this option customers will agree to have treatment on the NHS if the waiting list in less than 6 weeks. If the waiting list

is longer than 6 weeks then private treatment will be arranged.

Implementing this option means that customers will receive treatment within 6 weeks, whether privately or through the

NHS.

Excess

With this option, customers agree to pay part of the initial cost of

treatment. Excesses are normally set at £100 and £250 but can be set as high as £1,000 depending on the

customer’s requirements.

Normally the higher the excess you set, the lower the monthly

premiums will become. The excess for most policies is set on a per

policy annual basis, meaning that if you need any medical treatment

then the excess is only applicable for the year, it then must be topped up.

Given the various options available and the different options that can be included it is vital to select the right policy for you. For example a higher level of physiotherapy may be more important to some than a private ambulance service. Before

going ahead customers should therefore seek independent advice.

Critical Illness Cover – Health insurance for the elderly