What is a Senior Citizen Health Policy?

A senior citizen health insurance plan is medical insurance that provides medical cover to people between 60-75 years. Cashless hospitalisation, day-care expenses, and disease cover are a few benefits of health insurance for senior citizens.

According to the IRDAI guidelines, every health insurance policy provider now offers protection to people up to 65 years of age. The following updated regulations will help people to get coverage at their later life stages.

Moreover, the policyholders have an advantage of changing their insurers if they're not happy with them. Senior citizen health insurance providers in India are abundant; however, choosing the best out of them is quite a challenging task.

Why do you require Senior Citizen Health Insurance?

As the health issues in senior citizens are unpredictable, they must have a health insurance cover because getting hospitalised can be both financially and mentally distressing for them and their loved ones. The below mentioned are a few noticeable reasons why there is a requirement for best health insurance policies for senior citizens:

  • Battling with Rising Medical Expenses - For fighting against the rising medical expenses, it is essential to get an adequate health insurance policy for senior citizens and their entire family. Due to this, a senior citizen health insurance policy becomes crucial for senior citizens so that they can get the best medical services.
  • Critical Illness Coverage - Critical illnesses like kidney issues, cancer, heart diseases, etc., are more likely to occur in aged people. People over 60 years of age can avail add-on cover for these critical illnesses with an adequate senior citizen health insurance policy.
  • Annual Medical Check-ups - As senior citizens require regular health screenings; they can avail the same through adequate health insurance cover for them without any recurring charges.
  • Peacefulness - It is exhausting to pay hospital bills for older people, especially with an uprise in medical expenses for both minor and critical illnesses. In this situation, a senior citizen health insurance policy plan can get peacefulness for them and their loved ones.

What are the benefits of Senior Citizen Health Insurance?

A senior citizen health insurance plan offers a wide range of advantages to senior citizens who are more prone to have diseases. For availing this policy's coverage, an individual needs to be at least 60 years old. The below mentioned are some of the essential benefits of senior citizen health insurance in India:

  • Medical Coverage - People over 60 years of age get health cover benefits under senior citizen health insurance plans in India, as a primary health policy only offers coverage to the people up to 65 years.
  • Pre-medical Check-up - Health insurance for senior citizens without medical tests are available in abundance, and hence pre-medical check-ups are not needed for such plans. However, some plans do require screening.
  • Cashless Treatment - Some top hospitals offer cashless treatment facilities, such as room charges, doctor's fees, and medical bills, etc., to senior citizens, provided they are admitted in the hospital for a minimum of 1 day.
  • Treatment Expenses Coverage - In-patient hospitalisation, pre and post-hospitalisation expenses are covered in this policy
  • No-claim Bonus - Insurers provide a discount (ranges between 20-100%) to the policyholders if they do not claim policy benefits.
  • Tax-Savings - Senior citizen health insurance policyholders can avail tax exemption benefits, as per Section 80D (IT Act.) Every financial year, the premium cost is eligible for tax exemption benefits.
What are the top Senior Citizen Health Insurance Plans in India?

The following are the top insurers that offer the best senior citizen health insurance plans in India. Their highlights are also described:

Aditya Birla Health Insurance
  1. Plan: Activ Care Senior Citizen Health Insurance
  2. Eligible Age: 55-80 years
  3. Sum Insured:
    1. Standard: up to 10 Lakh
    2. Classic: up to 10 Lakh
    3. Premier: up to 25 Lakh
  1. Pre-existing Diseases: From the 2nd year
  2. Medical Check-up: Required
Bajaj Allianz Health Insurance
  1. Plan: Silver Health Plan for Senior Citizens
  2. Eligible Age: 46-70 years
  3. Sum Insured: 50k- 5 Lakhs
  4. Pre-existing Diseases: From the 2nd year
  5. Medical Check-up: After 46 years of age
Bharti AXA Health Insurance
  1. Plan: Bharti AXA Senior Citizen Health Plan
  2. Eligible Age: 18-65 years
  3. Sum Insured: 5 Lakh- 1 Crore
  4. Pre-existing Diseases: From the 2nd year
  5. Medical Check-up: NA
Care Health Insurance
  1. Plan: Care Health Freedom Health Plan
  2. Eligible Age: 55-80 years
  3. Sum Insured: 3- 10 Lakh
  4. Pre-existing Diseases: From the 2nd year
  5. Medical Check-up: Required (depends on the case)
Cholamandalam Health Insurance
  1. Plan: Individual Healthline Plan
  2. Eligible Age: Up to 65 years
  3. Sum Insured: 2- 25 Lakh
  4. Pre-existing Diseases: NA
  5. Medical Check-up: Not Required up to 55 years of age

List of Top Health Insurance Companies in India are-

  • Star Family Health Insurance Plan - All daycare procedures, air ambulance (specified limit), domiciliary hospitalisation expenses (home treatment) and pre/post-hospitalization expenses for up to 60 to 90 days respectively. These are some of the coverage provided by the Star Family Health Insurance Plan. This plan can be regarded as a super saver that offers to cover the entire family at a nominal premium.
  • Apollo Munich Optima Restore Plan - Any person whose age ranges between 65 days to 91 days can be covered under this plan. Apollo Munich Optima Restore Plan is one of the most popular health insurance plans that provide some of the incredible benefits and the sum assured ranges between Rs 3 to 50 lakhs. Get lifetime renewability, cover for daycare procedures, in-patient hospital coverage, road ambulance cover and 100% increase in the sum assured for 2 claim-free years from Apollo Munich Optima Restore Plan
  • Max Bupa Health Companion Individual Plan - If you want a high coverage with minimum premium than Max Bupa Health Companion Individual plan is the ideal health insurance for you. This plan also offers a 12.5% discount on premium in the second year. Get coverage for in-patient hospitalization treatment, 30 to 60 days of pre/post-hospitalization cost, lifetime renewability option and 15 days free look period.
  • HDFC Ergo Health Suraksha Plan - One of the unique things about HDFC Ergo Health Suraksha Plan is that there is no maximum age limit and the plan offers several variants like-silver, gold, and platinum which comes with different features, benefits, and assured sum under them. Did you know? HDFC Ergo Health Suraksha Plan covers organ donor expenses, day-care procedures, and coverage for in-patient hospitalisation cost without any restriction on room rent and disease coverage.

Frequently Asked Questions

The things that one needs to look upon while purchasing a policy are claim process, pay-out mechanism, adequate cover, waiting-period and pre/post-hospitalization benefit.

The documents which are required to buy a health insurance plan include-age proof, identity proof, address proof, medical check-up reports(optional) and passport size photo.

Yes you can do so without waiting to get one through your employer. Online mode is the best way to purchase health insurance. When you buy insurance online you can understand the various policies, sitting at the comforts of your home, rather than moving around with agents (extra expense)

Depending on the medical history and age of the applicant many insurance policies might not issue the policy without asking for am medical test. In case, you are above the minimum age(varies from policy to policy) then the medical test will be required.

The sooner the better. As in the later stage of your life, you may get deprived of immediate coverage (waiting period) and the premium cost might rise as well.