June is social responsibility month for us and so we feature what might be helpful to our many Benny Goodman and Sinatra fans
One of the most important things that the elderly need in their old age is the right insurance policy that will help them to live comfortable and peaceful lives. Remember that accidents, calamities and disasters have no age restriction and can occur at any one time in a person’s life. This is why the elderly must have the right insurance plan that will keep them well protected. Some of the important insurances that even the elderly should keep in mind are life insurance, health insurance and travel insurance.
Life insurance is one of the most important insurance policies for the elderly. While some insurance companies may charge the elderly higher premiums than the youth, others have specialized plans targeting the elderly and offering them competitive rates. This is because in this fast paced world, it is easy for anyone to get sick and die and not just the elderly.
Another important policy for the elderly is travel insurance. Growing old shouldn’t mean that the elderly should lose their adventurous streak. This policy is designed for the elderly who love to travel either locally or internationally. While many insurance companies will provide travel insurance for a specific age group and not for the aged, there are companies that offer travel insurance for those aged 65 and beyond. These companies will factor in the cost of medical treatments, the age of the elderly and other factors when calculating the premiums to be paid.
Health insurance is more important for the aged than for the youth because after retirement, medical expenses tend to rise. While not all insurance companies will provide health insurance for the elderly, some companies offer health insurance for those aged above 75 with a few exclusions included in the policies.
When getting insurance for the elderly, make sure you read the policy well before buying so that should you need to make a claim, you will know what is covered for by the insurance company and what isn’t.