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A health insurance policy designed specifically for individuals over the age of 60 years is generally known as medical insurance for senior citizens. The plan is designed in a way that is instrumental to senior citizens and covers them against pre-existing diseases, provides preventive health check-ups, covers cashless hospitalization, provides critical illness coverage, and more for efficient and quick healthcare. After the age of 60 years it becomes vital that health care is provided effectively and promptly as with growing age health deteriorates and you become prone to serious medical ailments if not treated timely.
60 Years and above
Subject to different policy terms and conditions
Cashless Claim Settlement at network hospitals
Available with lifetime renewability
Available
Available under section 80D
Best Senior Citizen Health Insurance Plans
24 Best Health Insurance Companies in India
There are multiple health insurance plans for senior citizens that are out in the market and it can be confusing to opt for the one suitable for your needs. We have compiled a list of the best health insurance plans for senior citizens for our readers.
A senior citizen plan that offers complete protection such as nursing at home, AYUSH cover, personal health coach, etc.
Unique Benefits
A plan designed for senior citizens offering cashless benefits or reimbursement for hospitalisation expenses due to illness or accident.
Unique Features
Comprehensive health plan for people above 60 to make their second inning stress-free from health-related financial worries.
Unique Benefits
Specially designed for senior citizens and is available on an individual and family floater basis which includes the insured and their spouse. SI goes up to 10 lacs.
Unique Features
A plan providing comprehensive protection to senior citizens with multiple coverage options counting from 5 - 25 Lakhs.
Unique Features
The plan is specially designed for those individuals who are willing to secure their old-age medical needs after their retirement.
Unique Features
Mediclaim for senior citizens is an essential healthcare safety net that provides senior citizens with quick medical care services when required. After the age of 60 individuals are prone to serious illnesses and medical complications where one illness could lead to a multitude of problems without any prior warning. Mediclaim for senior citizens will help families to manage their finances better and medical bills will not dig into your savings. We have listed a few reasons below in order to reflect on why it is important to invest in a good senior citizen health plan:
Health Insurance for Senior Citizens is designed in such a way that will provide several benefits keeping in mind the needs of the ederly. With this health insurance, an aged individual can avail of multiple benefits. Some of the crucial ones are mentioned below:
With this health insurance plan in your pocket, you don't have to worry about paying for pre & post hospitalization expenses, daycare expenses, ambulance charges, domiciliary hospitalization expenses, among others.
With the availability of cashless facilities,one can easily avail of the cashless medical treatment from any of the network hospitals that are a part of the respective insurer's network.With this, an individual can get the best treatment possible without paying for the expenses (as per the policy).
Many senior citizen health insurance plans come with a lifetime renewability benefit, which offers you the advantage of getting a lifetime cover, without any restrictions or age bar.
Most insurers don't ask for pre-medical tests in these specially designed senior citizen plans. People who would otherwise opt for a normal health insurance plan at the age of 60+ would most likely have to go through a pre-screening test. This is one very important benefit because in old age, most people have pre-existing diseases and therefore land up not getting any company to offer them a standard plan.
Premiums paid under such policies are eligible for tax benefits (Rs.50,000) under Section 80D of the Income Tax Act, 1961. An additional rebate of Rs.5,000/year for preventive health-check is also available.
A senior citizen health insrance allows one to avail medical coverage for the senior citizens.With a senior citizen health insurancce, one can secure their healthcare needs even after the age of 60 years.
Health Insurance Plans for Senior Citizens offer necessary benefits such as pre and post-hospitalization cover, day-care treatment, annual health check-ups, cashless hospitalization, home care, and more. Health Insurance Plan for Senior Citizens is suitable for people over the age of 60. However, with the constant rise in lifestyle diseases individuals must purchase a health insurance policy for their elderly parents, retired professionals, business owners, etc.
A health insurance policy acts as a legal guardian of your health. You should spend considerable time researching before making a decision. The below-pointers should be a part of your research when you are buying a Health Insurance for aged individuals. Let's learn about them.
It's hard to travel when you are old. And it's even harder at the time of a medical emergency. It's convenient to partner with an insurance company whose network hospital is near your residence, so that when a medical emergency arises, you can go to your nearby hospital and avail cashless treatments.
These plans comes with a waiting period for pre-existing diseases, which means you can avail of coverage for a certain listed illness after a pre-defined number of days. Here, the smart move will be to compare different plans and choose the one that has the lowest waiting period.
Old age requires extra prevention and protection in terms of health. And medical check-ups can help you achieve that. If you agree with this statement, then going for an insurance company that offers free medical health check-ups can be a treat for you.
In general terms, co-pay is a predefined amount that the insured promises to pay at the time of a claim. As most of them don't have a regular income, it's not easy to pay up a large claim amount. That's why it is recommended to go for a plan that asks for a small co-pay in return. It puts less pressure on your wallet.
Health Insurance for Senior Citizens in India has a major benefit under the Income Tax Act, section 80D which states that the premiums paid toward any health insurance for senior citizens is eligible for tax exemptions of up to INR 50,000. Under this benefit senior citizens can enjoy the advantage of medical cover along with tax savings.
Health Insurance Plans for Senior Citizens have the following inclusions:
Health Insurance Plans for Senior Citizens have the following exclusions:
With so many insurance buying options available in the market, the risk of fraud also increases. For a safe, quick, and time-saving process, PolicyX.com comes with an easy and user-friendly buying process that allows you to purchase your policy from the comfort of your home.
Get quotes from top insurers by filling up a form given on the top of this page.
Compare quotes of different insurers and select the desired plan as per your requirements.
Submit all the required details and documents.
Make the online payment and Congratulations! Your Health is now secured.
Insurance companies allow policyholders to claim for such policies via two means- cashless and reimbursement. Let's discuss both the procedures:
Note: These are general guidelines. It may vary from one insurer to another.
Cashless Claims
Reimbursement Claims
Generally, people who get treated in non-network hospitals file for reimbursement. Below is the process-
Documents Required
Health insurance plans for senior citizens are an essential tool to help combat financial burdens caused by medical care for senior citizens. With growing age serious health issues and medical ailments can be more frequent and difficult to combat due to weaker immunity and degeneration of the body. It is an expensive affair to pay out of your pocket for medical treatments for senior citizens. The best health insurance for senior citizens can be selected by looking at multiple factors such as sum insured options, premiums, coverage benefits, and more.
Following are the best senior citizen health insurance plans in India:
To choose the best health insurance for senior citizen, you first need to compare several senior citizen plans available, evaluate your healthcare needs, assess your budget and then choose the ideal plan based on your needs.
Yes, co-payment is a mandatory feature in all senior citizens health insurance plans. One can opt for a higher co-payment to lower their premiums.
Every insurance company has listed its claim process. You just need to follow the process mentioned by your company. Over there, they must have mentioned the party to approach- TPA or company itself.
Following documents are required:
Yes, hospitalisation expenses arising out of COVID-19 are looked after. However, the cost of consumables like gloves, sanitisers, etc. is not covered.
Pre-existing conditions are usually covered by senior citizen health insurance policies. But to avail of the benefit, the insured is required to complete a specific waiting period, which may differ from plan to plan.
Individuals above 45 years of age have to undergo a pre-policy medical test. Therefore, if you are above 45, you need to undergo a pre-policy medical checkup.
Yes, Critical diseases are covered by a number of senior citizens' insurance policies. Critical disease coverage is included in certain plans, but it is also available as add-on insurance for a fee.
Senior Citizens can claim a tax advantage of up to Rs.30,000 per year on premiums paid under Section 80D of the Income Tax Act 1961. You can also take advantage of this benefit if you are paying the premium for your parents' coverage.
Health insurance for senior citizens comes with mandatory pre-policy medical check-ups, sum insured amount, and the exclusions list. Before buying mediclaim insurance for senior citizens, you should carefully check the entry/exit age, maximum renewal age, co-payment option, domiciliary treatment option, etc.
To buy a mediclaim policy for senior citizens, you'll need the following documents:
The minimum and maximum age limits to buy health insurance for senior citizens are 60 years and 75 years respectively buy it varies from plan to plan and insurer to insurer.
Elderly people are more likely to have pre-existing diseases whose treatment can exhaust all your savings. Therefore, you should opt for a senior citizen health insurance plan that comes with a minimum waiting period for pre-existing diseases.
Health insurance for senior citizens mostly comes with mandatory pre-policy medical check-ups, limited coverage, and an extensive list of exclusions. You must check these factors carefully before buying a plan. You should also look out for factors, such as entry/exit age, maximum renewal age, co-payment, domiciliary treatment, etc. while buying the policy.
There are some insurance companies that offer free health check-up facilities to the insured under the senior citizen health policy every year, even if you have applied for a claim. However, there are also companies that offer this benefit to the insured after every two/three/four claim-free years. So it is best to read the policy wordings of a senior citizen's health insurance policy carefully to get a clear idea of conditions related to medical check-ups.
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