Most of your clients are already on an insurance plan by now but a lot of times you will find that your client might be the only one from his whole family who is fully insured purely because he (and the family) think that only the earning member of the family needs to be insured. This is a common misconception. Every family member should be insured! Health insurance policies are there to be a financial cushion when an unexpected accident, illness or death takes place – every member of your family requires it.
Today we are talking about Senior Citizen Health Insurance and why it is necessary in this country along with its benefits. This should be enough clarity on what to tell your clients when it comes to selling them senior citizen health insurance. So, what is Senior Citizen Insurance? It is basically health insurance that is adequate to help medical expenses of people over 60 in their golden years. As an insurance agent, it is important that your client understands the necessity of having a financial cushion for family members over the age of 60. The medical expenses that may arise are always going to be much more expensive, because with age, health deteriorates.
Next, your client should hear your thoughts on why you think Senior Citizen Health Insurance is a necessity in India. The only answer that needs to be given, is this – the retirement age is 60, but due the medical advances, the average life expectancy is over 70 years old. So obviously as one grows older, they might have less capital to look after personal expenses. Another thing that needs to be taken into account is that medical costs are rising. It is not cheap to get medical help, so having health insurance helps you and your family members manage the financial strain of medical expenses in a big way.
Your client may at this point appreciate all your points but say they have already invested in a regular health insurance plan for their parents. Here is where you have to share that the maximum age limit for a regular plan is 65 years of age, whereas a senior citizen health insurance plan allows seniors that are up to 80 years of age. In fact, this plan has features and benefits that are especially for senior citizens to enjoy.
Senior Citizen Health Insurance Policies offered by various companies
The table above provides details that you can use as a guideline when talking your clients through their various options while helping them choose the one that’s best suited to them.
Coming to the benefits of senior citizen health insurance plans, there are plenty for you to educate your clients on as their insurance agent. Some of the benefits are as follows:
- Yearly health check-ups, free – look period, ease of renewal and reload options will be included.
- Pre-existing diseases are covered after shorter waiting periods.
- These plans are renewable throughout lifetime.
- Most senior citizen health insurance plans permit for a high entry age of around 80 years.
These benefits show there is plenty of your client and the concerned senior citizen to enjoy. By now your client has a clear picture of why they should invest in a senior citizen health insurance plan. Give them the opportunity and time to think it through and get back to you. This is the part where you thank them for their time and appreciate that as an insurance agent you have done a good job on educating the concerned client.
Your client is probably going to do what they think is best for their family and once you have done your part in illustrating all there is to know, the probability of your client coming back to you with a positive answer is very high!
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