As individuals age, the likelihood of encountering health issues and medical conditions increases significantly. Ageing also bring about financial challenges, as medical expenses tend to increase alongside health concerns. Recognising these physical and financial challenges that accompany one's later years, the importance of having a comprehensive health insurance plan cannot be overstated.
Live TV
Medical coverage for parents and
senior citizens often goes beyond basic protection, encompassing valuable supplementary benefits such as cashless hospitalisation,
critical illness insurance, and targeted coverage for conditions like cancer and stroke.
Here's a look at some of the health insurance policies available for senior citizens in India:
Bajaj Allianz Silver Health Plan
Offers cashless facility in an extensive network of hospitals.
Includes free health check-ups at Bajaj Allianz Diagnostic centers after claim-free periods.
Provides a 5% family discount and cumulative 5% bonus for every claim-free year.
Eligibility: Individuals aged 46 to 75 years after required medical tests.New India Assurance Senior Citizen Mediclaim Policy
Covers pre and post hospitalization charges up to 30 days before and 60 days after hospitalization.
Hospitalization for illnesses, injuries, and related treatments.
Covers pre-existing ailments after 18 months of continuous involvement with the company.
Eligibility: Individuals aged 60 to 80 years, renewable up to 90 years.Oriental Insurance HOPE - Health of Privileged Elders
Covers room rates, nursing expenses up to 1 percent of the sum insured.
Includes ambulance charges up to Rs. 1000/- or actual expenses incurred.
Covers all doctor, surgeon, specialist charges, and related procedure costs
Offers coverage for intensive care unit expenses up to 2% of the sum insured per day.Star Health & Allied Insurance Red Carpet
Covers hospitalization fees, ambulance costs, and health check-ups.
Includes coverage for both pre and post-hospitalization expenses.Care Supreme
Offers full claim payment coverage and no room rent limits.
Access to pre-existing condition coverage after 30 days.
Unlimited sum insured restoration.Manipal Cigna Prime Senior (Classic and Elite)
Allows utilization of the entire insurance claim payment.
Covers inpatient care expenses up to a single AC private room.
Offers coverage for pre-existing conditions after three months.Future Generali Health Insurance: Varishta Bima
Covers hospitalization fees, ambulance costs, and pre and post hospitalization expenses.Niva Bupa ‘Senior First’ plan
This is a tailor-made plan for senior citizens, designed to provide support and care to seniors in their golden years.
According to Bhabatosh Mishra, Director Underwriting, Products & Claims at Niva Bupa, the Senior First plan is crafted to provide seniors with financial security in the midst of growing medical inflation.
"It does not require them to take any pre-medical tests before policy issuance and comes with features for a variety of needs including annual health check up from day 1, no loading for common conditions like diabetes, hypertension etc, range of co-payment options and deductibles," Mishra said.
Here's a list of other senior citizen health insurance plans available in India:
| Senior Citizen Health Plan | Features |
| Star Health's Red Carpet | - Sum insured - Up to Rs.25 lakh
- Entry age - 60 to 75 years
- Renewability - Lifetime renewability
- Co-payment - 30-50%
- Critical Illness cover - available
- Waiting period for pre-existing disease cover - 1 year
|
| Apollo Munich's Optima Senior Health Plan | - Sum insured - Rs.2 lakh to Rs.5 lakh
- Entry age - Minimum 61 years
- Renewability - Lifetime renewability
- Co-payment 15-30%
- Waiting period for pre-existing disease cover - 3 years
|
| New India's Senior Citizen Mediclaim Policy | - Sum insured - Rs.1 lakh to Rs.1.5 lakhs
- Entry age - 60 to 80 years
- Renewability - Up to 90 years
- Co-payment - Voluntary payment
- Critical Illness cover - available
- Waiting period for pre-existing disease cover - 18 months
|
| ICICI Lombard's iHealth Plan | - Sum insured - Rs.1 lakh to Rs.10 lakh
- Entry age - No maximum entry age limit
- Renewability - Lifetime renewability
- Co-payment - Voluntary payment
- Critical Illness cover - available
- Waiting period for pre-existing disease cover - 4 years
|
| National Insurance's Varishtha Mediclaim | - Sum insured - Rs.1 lakh to Rs.2 lakh
- Entry age - 60 to 80 years
- Renewability - Up to 90 years
- Co-payment - 10%
- Critical Illness cover - available
- Waiting period for pre-existing disease cover - 1 year
|
(Source: Bankbazaar)
