Medical insurance cover is available

 Manipal Cigna is one of many firms providing health cover for senior citizens at attractive terms, including cashless service and a cover of pre-existing conditions. Facilities while meeting minimum requirements may differ from firm to firm, and premium rates also vary in a very wide range, only a proper study will help you settle for a good scheme.

The point to note in the eligibility criteria is the 2^nd statement – There is no upper age limit for entry.

For Generic medicines at lowest prices, fair price generic medicine shops in Mangalore and all major cities and towns supply most generic medicines at controlled prices. These are controlled/operated by the State Government 

Claim: No schemes for relief for needy senior citizens of the country

Helpage India ensures care for elderly.

• Mobile Healthcare Units– providing free healthcare services to destitute elders and serves care for old people all over the country
• Elder-Self-Help Groups, helps elders become self-reliant and independent
• Support-a-Gran program conducts cataract surgeries to restore their sight, looks after their basic needs
• Active Ageing Opportunities -runs Elder Helplines across the country, provides relief & rehabilitation for elders post disasters

Statement: No loan facilities exist for Senior citizens.

Loans are provided for Senior Citizens by SBI and other public sector banks based on age and repayment capability (based on the pension amount received each month).  In case the pension is not to be used, loans against collateral and emergency personal loans are also available.

No job availability for senior citizens

Depending on the health and known skills of the persons interested in working, suitable jobs can be located or created for practically any need. One way to handle this is to form a group of senior citizens and set up a Self Help Group for earning funds, and taking guidance from any NGO, or social work organisation, if required.   

Sharing available skillsets through tuition centres for students and training centres for employed young adults.

Potential opportunity areas that will work in almost all areas of the country are:

• spoken language training,
• guidance on how to locate and capture the benefits of schemes running for their benefit,
• Retired people can always share their life experience in various sectors and guide youngsters on how to get up and move on in spite of adverse events.

It is stated that after paying taxes during a full career after retirement full taxes have to be paid on purchases – paying taxes at the time of purchase is applicable for all citizens.  

Benefit of age is available in Personal Income Tax On the basis of the age, reduced rate of Income tax is applicable for senior citizens.

Other specific benefits are available for holders of the Senior Citizen Card available from the Government Services Portal of India.  These include cheaper Air and Railway travel Tickets, better interest rates in banks, requesting of priority when hearings are scheduled in a  court of law and for when applying for a passport.

A comment on Welfare Payment or ‘Dole’

Domestic finance in India has not been based on Government support or welfare, self-financing has been the rule, whether for purchase of a car, house, children’s education, marriage, or old age expense. Welfare Payment (also called Dole) is an American system under which age does not matter, and till recently, during the lockdown, even young unemployed have been getting relief amount from the government, under their Social Security scheme applicable for young and old alike.

Points to be noted:

1. Insurance Cover for certain pre-existing conditions may not activate from the initial date of cover and this can change from company to company, and for certain conditions, the cover may activate after a delay period, but this delay is only for new insurance and not for renewal of an existing cover. A clear and specific description of each of such terms should be compared between firms when selecting the cover.
2. It should be noted that a ‘cooling-off’ period or ‘Free Look Period’ in now compulsory during which the purchased cover may be cancelled with a full refund with no questions asked. In case of any doubts or suspicions, this facility should be availed by communicating in writing/email to the head office of the firm without any hesitation or delay. Verbal communication to the agent or advisor could fail if the agent does not forward that decision to the company in time. Several schemes are available in the market and it is is always preferable to cancel and look for a new one in case of any doubt.
3. Ombudsman / Grievances authority is available in almost all formal financial sectors in the country – due diligence has to be exercised when entering into any contract, but, even after that, if something does go wrong, adequate safeguards are in place to protect the consumer opting for the service.