What type of insurance cover should a senior citizen buy?2 min read 26 Jan 2023, 09:49 PM IST
The advantage of buying sum assured together is that the waiting period on PEDs would run together. So, after a block of 4 years, you will have the full sum assured. Also, with a higher sum assured, you get no claim bonus on the full sum assured.
I am a senior citizen. How much cover should I opt for the first time? Will there be a four-year waiting period for pre-existing diseases (PEDs)? Should I buy a less sum-insured policy to save on the premium and increase it after four years?
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