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Health Insurance Coverage at Midlife

When you turn 45 years old and enter your midlife stage, you should invest in health insurance if you haven’t yet. You should consider factors such as premium amount, coverage, co-payment details, waiting period, renewal age limit, and so on.
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Midlife, around the age of 45 years, is the time when you would slowly fulfil all your responsibilities. It is the best time for you to start making long-term investments and plan for retirement. With the increase in age and the added stress of today’s lifestyle, health tends to deteriorate. It is crucial for every individual to have a health insurance policy that aids him/her when there are medical expenses. If you don’t have a health insurance plan already, you should consider purchasing one at this stage in life at least. Here’s why:

  • Health insurance plans have a pre-existing condition clause. Generally, age-related problems like severe cardiac disorders, bone issues, etc. might lower your eligibility to purchase the policy.
  • Insurers consider older individuals to have a higher risk to contract critical illnesses. Hence they charge a higher premium for those in the higher age bracket.
  • In a few cases, there are many exclusions with regard to certain medical conditions for individuals of advanced age.

It is, therefore, wise to purchase a medical insurance policy well in advance. The older you get, the more difficult finding an affordable health insurance plan will become. Further, the cost of healthcare has seen a steady rise of late. Paying out of the pocket during an emergency could put you in heavy debts. This is when a medical insurance plan could be beneficial.

How to Narrow Down on the Best Health Insurance Plan at Midlife:

For someone who doesn’t have an inkling as to what a health insurance plan is and which plan to choose from the gamut of plans available in the market, these pointers could come in handy.

  • Find the right coverage amount: The sum insured is the maximum amount payable when the person insured incurs medical expenses. You should choose the sum insured based on your health condition and approximately how much you would end up spending for the treatments. You should also take rising costs and the possibility of contracting diseases into consideration.
  • Look out for the premium: The premium is the amount that should be paid on a regular basis to the insurer to cover your medical expenses. It is calculated based on your age, plan opted for, sum insured chosen, etc. Make sure the amount is affordable and worth paying.
  • Find out what the renewal age limit is: Certain health insurance policies cannot be renewed after the policyholder crosses a certain age limit. You will then have no health insurance cover to aid you in times of need. So, preferably choose a plan with a lifetime renewability.
  • Check what the co-payment option is: Certain medical insurance plans come with a co-payment feature wherein the policyholder will have to share the expenses with the insurer. Try to choose a plan that offers lesser co-payment.
  • Pick the one with shorter waiting periods: Pre-existing conditions have specific waiting periods. Pick the health insurance policy that has shorter waiting periods so that you need not have to wait to get treated for your ailments.
  • Make enquiries about the expenses covered: Read the policy to ensure all services that you require like hospitalisation, daycare facilities, OPD, ambulance charges, etc. are all covered under the policy.
  • Ask for a list of network hospitals: You can avail the benefit of cashless services in hospitals if it is included in the network of hospitals of your insurer. You should ideally pick an insurer which has neighbouring hospitals as empanelled hospitals.
  • Check for bonuses: Certain insurance companies provide a no-claim bonus each time a policyholder completes a policy year without making even a single claim. A few insurers offer discounts for adding family members to the same policy. Find out such details to reap maximum benefits.
  • Research about the insurance company: Find out what the claim settlement ratio (the number of claims settled in a particular year) of the insurer is. This will help you understand the functioning and ranking of the insurance company.

Benefits of Buying a Health Insurance Plan at Midlife:

Health insurance is a necessity and every individual is advised to purchase a policy as early as possible. Each health insurance policy has unique features that are beneficial to the policyholder.

  • The premium paid qualifies for tax benefits under Section 80D of the Income Tax Act.
  • Insurance policies generally have a free-look period. In most cases, 15-30 days are provided to the policyholder to review the terms and conditions of the policy. The policy can be returned if the policyholder is not satisfied with it.
  • Health check-ups are conducted throughout the policy term. The expenses incurred on the same can be reimbursed at a later time.
  • At the end of every policy year, the sum insured can be enhanced to meet the expenses incurred.
  • Additional covers like personal accident covers and critical illness covers can be added to the policy.
  • A few insurers offer top-ups to the basic health insurance plan. If you opt for a top-up, you can make claims beyond the maximum sum insured amount.

Exclusions of Health Insurance Plans:

Health insurance plans do not cover all treatments and conditions. The insurer specifies certain exclusions of the policy.

  • Pre-existing injuries and illnesses are not covered until a specified waiting period is completed.
  • Any injury or disease contracted within 30 days from the date of inception of the policy is not covered.
  • Claims cannot be made for non-allopathic treatments.
  • Injuries that are self-inflicted or caused by drug abuse/alcohol are not covered under the policy.
  • Treatments undergone for a change of life/cosmetic surgeries are excluded from health insurance coverage.
  • The policies will not cover injuries caused by wars, war-like situation, nuclear material or radioactive sources.

Purchasing a health insurance policy will help you make a sound financial plan to manage your medical expenses. It is imperative that you purchase the perfect health insurance policy that will cover your medical expenses and help you lead a stress-free life. The key is to have a medical insurance plan that will help you meet all your medical expenses while you pay only a nominal amount of premium.

Health Insurance Coverage At Midlife Reviews

Page 1 of 50 1 2 3 4 5
  • United India Health Insurance
    "Good Claim Experience"
    0.5 5.0/5 "Blown Away!"
    I got group insurance from company, on time I got policy. My father was not good at the time I have used the policy. I got the reimbursement around Rs. 23,000 the total value is Rs. 33,000. I went to shobha hospital they don't have tie up with United India, hence I got the reimbursement.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 18, 2019
  • Max Bupa Health Insurance
    "Good Claim Experience"
    0.5 5.0/5 "Blown Away!"
    I have medical cover with Max bupa, they gave me the coverage value of Rs. 5 lakhs its covers for entire family. One time I claimed for my mother for the eye surgery, I got the reimbursed within 30 days with 90% of amount, the total experience was good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 18, 2019
  • New India Health Insurance
    "Yet to experience the policy"
    0.5 5.0/5 "Blown Away!"
    My company has provided me a health insurance policy from new India. As per company norms, they have given me a coverage value of Rs. 5 lakhs. My entire family has been covered in this policy. They are offering a cashless treatment facility.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 18, 2019
  • United India Health Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy in the year of 2018 and the the premium has been deducting from my salary. The premium amount has not been too high and there has been many hospitals collaborated within my locality. There has also been some cashless treatment available with this policy as well.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 17, 2019
  • Star Health Health Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have my health insurance with Star health insurance, i had claim experience with it, my experience was good, they have good tie up with my hospital and they have mailed me about the location of it, and i am happy with there service, they have charged me premium amount on yearly basis, and the premium amount is nominal for me, and i use to pay through on line mode.
    Was this review helpful? 2
    , chennai
    Reviewed on Jan 17, 2019
  • Max Bupa Health Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken my health insurance with Max BUPA , i have not opt there policy yet and i use to pay premium on monthly bases , and it use to get auto debit from my account and while i applied for health insurance customer service had explained me about all procedure , so far the process went smoothly and it good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 17, 2019
  • Max Bupa Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I got the health insurance with Max bupa health insurance, there service is good, they have charged me premium nominal ,and the premium is on yearly basis, and they have tie up with many hospital , and had shared the details via mail, and i pay premium amount through on line mode.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 17, 2019
  • HDFC Ergo Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I got the health insurance with HDFC Ergo, they got tie up with many hospitals, and they have shared me location on those hospital in mail, and they have charged me nominal premium amount ,they have charged me up to 17000-18000 as premium, it is on yearly basis, and i use to pay the premium on an on line basis.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • SBI General Health Insurance
    "Bad experience"
    0.5 1.0/5 "Really Bad"
    I got the health insurance with SBI, they got tie up with many hospitals. I Felt the medical cover its less and i am not happy with there support team ,like if i want to call the customer care there number would not be reachable and they use to mail me PDF after paying premium amount,it would not get open, they have charged me premium amount on yearly basis,i have bad experience with this bank.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Jan 16, 2019
  • HDFC Ergo Health Insurance
    "Very good benefits"
    0.5 5.0/5 "Blown Away!"
    I have a health insurance from HDFC ERGO which was purchased by me in the year of 2018 because the benefits are very good. The claim process was simple and they have more number of hospitals for cashless. I have paid 18,800 for one year and took 3 years policy for myself and my wife. The medical coverage is 10L for myself and 5L for wife.
    Was this review helpful? 2
    , bangalore
    Reviewed on Jan 14, 2019
  • HDFC Ergo Health Insurance
    "Good"
    0.5 3.0/5 "Satisfactory"
    I have taken health insurance from HDFC Ergo which was offered along my personal loan. I have received the insurance paper and its been couple of months. It covers critical illness and need to go through the policy benefits. Always the customer is good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 14, 2019
  • Tata AIG Health Insurance
    "Great company"
    0.5 5.0/5 "Blown Away!"
    I have taken health insurance from tata aig. I did take health insurance from tata aig for my parents and The Process was so simple. Customer representative is good. The customer service and response was on time, never had any issues. Now I feel safe for my family Thank you tata aig.
    Was this review helpful? 1
    , solapur
    Reviewed on Jan 12, 2019
  • ICICI Lombard Health Insurance
    "Good Health insurance provider"
    0.5 3.5/5 "Pretty good"
    This policy was part of my employment, I took the medical coverage of Rs. 5 lakhs for the tenure of one year, this medical benefits for my entire. They have good networks of hospital with major disease cover. But I think it doesn't have no claim bonus.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 11, 2019
  • Reliance General Health Insurance
    "On time approval with reliance"
    0.5 4.0/5 "Great!"
    For my spouse operation I used the health policy, I approached them for the claim through hospital. I submitted the form and they send the papers to the Reliance insurance company. I got the cash less treatment, but I paid some amount which was not covered. But they gave me the on time approval.
    Was this review helpful? 1
    , kolkata
    Reviewed on Jan 11, 2019
  • Cigna TTK Health Insurance
    "On time service"
    0.5 5.0/5 "Blown Away!"
    On time Cigna TTK have activated the policy which provided by the company, the policy which I hold it has the coverage of Rs. 4 lakhs its covers for me. They are providing coverage for the pre existing with the tax benefits but there is no claim.
    Was this review helpful? 1
    , dandeli
    Reviewed on Jan 10, 2019
  • Cigna TTK Health Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    In Cigna TTK, they are providing pre existing disease cover, but they don't have no claim bonus features. The response is good they have good customer care working 24/7 , the medical coverage is good for me and entire family. They have many hospital which they got tie up in Mumbai.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 10, 2019
  • Apollo Munich Health Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a while back and i had been paying the premium amount on an annual basis. The premium method has been convenient and the premium amount has not been high. There has been many hospitals covered in my locality and their customer support has also been helpful.
    Was this review helpful? 2
    , pune
    Reviewed on Jan 09, 2019
  • ICICI Lombard Health Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    My organization has provided me a health insurance with ICICI Lombard. I have not claimed anything from this policy. My entire family has been covered in this policy. They have given me a coverage value of Rs. 3 lakhs. This is a cashless policy.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 09, 2019
  • Star Health Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    My company has offered a health insurance from Star Health with the coverage of 1L, its for the family, Still I have not used the policy and am gone utilize the policy within 15 days for my family.They covers a major disease. I have called the customer service and the response is good. I am planning to go for reimbursement, they do have minor network of hospitals for cashless. I can recommend after completing my claim.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 09, 2019
  • National Insurance Health Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    My company has provided me a health policy from National insurance with the coverage of 2L. It is for the family members and no claim. I never contacted the customer service. Every year it was renewed by the company. They have limited networks of hospitals for cashless. It does not cover only eye problems, if we got admitted in hospital for 24hrs then applicable for claim.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Jan 09, 2019
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