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Health Insurance for Senior Citizens : Best Health Insurance Plans for Senior Citizens in India
Senior citizens require a health insurance plan given their deteriorating health, low income and high medical costs. Since life expectancy is increasing, senior citizen face a serious financial threat in case of recurring medical contingencies. That is why, a health insurance plan dedicated to cover such individuals is necessary. Insurance companies understand the need of a senior citizen health plan and are therefore offering attractive senior citizen plans.
With more than twenty insurance companies each offering a senior citizen health insurance plan, finding the best plan is a difficult choice. To make the choice easier, here is a list containing the best health insurance plans for senior citizens:
| Name of the plan | Sum insured offered | Entry age criteria | Salient features |
| Bajaj Allianz Silver Health Plan | Rs.50, 000 to Rs.2 lakhs in multiples of Rs.50, 000. Rs.2 lakhs to Rs.5 lakhs in multiples of Rs.1 lakh | 46 years to 70 years | Basic coverage features of inpatient hospitalisation, pre and post hospitalisation, ambulance costs and day care treatments A waiting period of only one year for pre-existing illnesses 10% increase in sum insured as no claim cumulative bonus |
| National Insurance’s Varishtha Mediclaim | Rs.1 lakhs and Rs.2 lakhs | 60 years to 80 years | Option to avail premium discount or enhance the sum insured as no claim bonus Free health check-ups once in three policy years Diabetes and hypertension covered from the start at the payment of an additional premium Free inbuilt critical illness cover |
| Star Health Senior Citizens Red Carpet Plan | Rs.1 lakh to Rs.5 lakhs in multiples of Rs.1 lakh. Rs.7.5 lakhs and Rs.10 lakhs | 60 years to 75 years | Policy is accepted without any pre-entrance medical heck-ups Outpatient expenses incurred on medical consultations are covered Low pre-existing waiting period of 1 year 5% premium discount for buying the policy online |
| Apollo Munich Optima Senior | Rs.2 lakhs, Rs.3 lakhs and Rs.5 lakhs | 61 years and above | Free e-opinion in case of critical illness Cashless hospitalisation across more than 4000 hospitals 5% premium discount for not making any claim in a policy year Organ donor and domiciliary treatments are covered |
| Max Bupa Heartbeat Gold | Rs.5 lakhs, Rs.7.5 lakhs, Rs.10 lakhs, Rs.15 lakhs, Rs.20 lakhs, Rs.30 lakhs and Rs.50 lakhs | No entry age restrictions | AYUSH treatments are covered Inbuilt maternity and new born coverage 10% increase in sum insured as no claim bonus Daily cash allowance in case of hospitalisation exceeding 2 days Free annual health check-ups |
| Religare Care | Rs.3 lakhs, Rs.4 lakhs, Rs.5 lakhs, Rs.7 lakhs. Rs.10 lakhs to Rs.30 lakhs in multiples of Rs.5 lakhs. Rs.30 lakhs to Rs.60 lakhs in multiples of Rs.10 lakhs. Rs.75 lakhs, Rs.1 crore, Rs.2 crores, Rs.3 crores and Rs.6 crores | No entry age limits. | Daily allowance for hospitalisation Free annual health check-ups Second opinion in case of critical illness Automatic sum insured restoration |
So, you can choose from any of these available plans for senior citizens.
Choose wisely!
FAQs on Health Insurance Plans for Senior Citizens
The Aditya Birla Active Care plan is a best-suited health insurance policy for senior citizens and elderly people. This policy comes in three variants–standard, classic and premier which covers 586-day care procedures
Star Health insurance for senior citizens is one of the most popular and affordable insurance policies for the elderly in India. In fact, this plan was one of the first launched in the country specifically for senior citizens. The entry limit for the plan is between 65 and 75 years of age.
Medicare is the best health insurance option for seniors and retirees. For those age 65 and older or who have a qualifying disability, the Medicare program will be the cheapest health insurance with the best benefits.
Author Bio
Paybima Team
Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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Jan 08, 2025
Health Insurance
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Money back life insurance is a dual benefit product that allow both the advantages of investment as well as protection to the life insured. Let us know more about it in this post.
There are many factors to consider before you start investing in a life insurance policy if you are a logical investor. One such factor is the regular payouts that many investors seek from their investment. And since a term life insurance plan do not offer regular payouts and maturity, many people prefer to go for money back life insurance plans.
What consequences does it bring upon the insured if the person offers wrong information on his/her life insurance proposal form? Let us find out in this post!
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There are plenty of life insurance myths that people have regarding and they need to be dispelled.
It is thanks to these wrong ideas that people fail to see insurance as what it truly is – a vital part of your financial planning. You need to understand that these policies are an important constituent of your financial contingency plan – one that would protect your near and dear ones financially in the future. It would make sure that they do not experience a shortage of funds when they need them in the future. In certain cases, it can also act as a source of income following retirement as well as ailments and accidents that render you unable to work and earn.
When Rajesh wanted to purchase a new life insurance policy for his family, many of his friends advised him to understand the claim settlement ratio of a company. Although he didn’t understand what claim settlement ratio is, he knew that it was relevant in making the decision to buy a policy from a particular company. He therefore researched about it, compared plans and at last, he bought a policy from a company that had a high claim settlement ratio.
Buying a new online term insurance plan involves researching on various things like cover, exclusions, add-ons, and one should know about them in detail. For example, Tata AIA is a leading insurance company that offers a wide range of insurance plans in market at very competitive prices. However, being competitive in pricing alone is not enough, it is necessary to understand the company’s claim settlement ratio (CSR) before purchasing a plan.
Saral Jeevan Bima Yojana is a new standardized life insurance policy that has been brought about by the IRDAI (Insurance Regulatory and Development Authority of India) so that people can have an economical life insurance policy.
This is a non-participating and non-linked individual pure risk premium life insurance policy. In this case, your nominee would receive the sum assured if you pass away while you are covered by the policy. In its annexure, the policy states some benefits and riders. Apart from that, it does not offer any other benefit, rider, variant, or option. The only exclusion in the policy is that of suicide.
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