senior citizen health insurance

Everything you need to know about Health Insurance plans for Senior Citizens

Senior citizens are the backbone of the country, with their wealth of knowledge and experience. However, in these trying times of Covid-19 and newly emerging epidemics and diseases, it has become increasingly important to protect and guard the health of this section of society. A senior citizen health insurance provides coverage for medical expenses, treatments, hospitalisation, and other medical related bills. 

Health insurance for senior citizens provides coverage for all ages, from 60 to 80. A senior citizen health insurance provides coverage for late entrants, along with other benefits like low co-pay clause, large coverage, and a shorter waiting period. 

Looking to get health insurance for a senior citizen? Read ahead to know everything about this medical insurance policy.

Things to consider while choosing a senior citizen health insurance policy

To make the correct choice of health insurance, there are certain factors that must be considered. Some of these are:

  • Some health insurance policies for senior citizens have a waiting period, and the policyholders might have a waiting period, especially if they have a pre-existing illness. In such situations, the coverage starts only after completion of the waiting period. While choosing a health insurance, opt for one that has the shortest waiting period.
  • Some senior citizen health insurance policies offer complimentary health checkups to the policyholders. It is advisable to opt for policies that offer this service, as senior citizens require regular medical checkups, and they are quite costly.
  •  Health insurance policies require a payment by the insured, at the time of claim. This payment is called a co-payment. Senior citizens do not have access to a steady source of income, and hence it will be difficult for them to pay the entire co-payment amount. While selecting a medical insurance policy, opt for a plan with a reduced co-payment. 
  • General health insurance plans take age, existing medical conditions, and other medical requirements into consideration. Senior citizens often go through many health ailments. Select the senior citizen health insurance with the lowest premium and maximum benefits. 
  • Medical treatment costs and other related expenses depend on the geographical location of the policyholder. As a result of this, people living in metropolitan and urban cities require more coverage as compared to people residing in smaller cities and rural areas. 

Some popular senior citizens health insurance

While there are several health insurance policies available for senior citizens, it is best to opt for one which best suits the needs of the policyholder. Some of the popular and beneficial policies are:

Bajaj Allianz Silver Health Plan

The Bajaj Allianz Silver Health Plan is a comprehensive health insurance policy for senior citizens, and offers a bonus of 10% of the insured money to the policyholder, in case of no claim. Additionally, if more than 2 family members get the coverage, a 5% family discount is offered. The entry age for the plan is from 46 years up to 70 years, and covers Rs. 5 lac. The policy covers pre and post hospitalisation charges. Pre-existing diseases are covered from the second year of the policy.

Aditya Birla Active Care

The Aditya Birla Active Care is an attractive senior citizen health insurance policy, that is tailor made to suit the needs of the senior citizens of India. The policyholder can opt for this plan in three variants – Standard, Classic, and Premier. The insured can earn about 21% of the premium, and also have access to medical checkups and healthcare coaching sessions by a certified health coach. The plan offers coverage for a maximum of Rs. 5 lacs, and insures people from 55 years of age. 

Care Senior Health Insurance Plan

A comprehensive health insurance plan, the Care Senior Health Insurance Plan provides protection to the senior citizens from costly medical expenses. This policy offers facilities of cashless hospitalisation, and can be availed in more than 15,500 empanelled hospitals. Additional benefits like copayment waiver, no super claim bonus, and a number of add-ons are offered, along with other benefits. The plan has a minimum entry age of 61, and provides Rs. 10 lacs as coverage. 

Tata AIG MediSenior

Focusing on the needs of the senior citizens, the Tata AIG MediSenior is designed for people over 60 years of age. Providing an insurance of Rs. 50 lac, policyholders have advantages like family discounts and home care. 

While selecting a health insurance for senior citizens, it is important to select one that is not very expensive, has comprehensive coverage, is suitable for their age, and offers complimentary health checkups.

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