Health Insurance For Senior Citizens In India

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United India Senior Citizen Mediclaim Policy

Best Health Insurance Policy for Senior Citizens 2021 | Mediclaim Plans in India | Policybazaar

United India Health Insurance has designed this Senior Citizen Mediclaim plan for people between the age group of 61 years and 80 years. The senior citizen can opt for a sum insured amount between Rs.1 lakh and Rs.3 lakhs. One of the key features of this insurance plan is the coverage it provides for domiciliary hospitalization. The insurance plan also covers ICU expenses and for specialized treatments such as chemotherapy, radiotherapy, and dialysis. It also covers pre-existing diseases after a waiting period of 48 months.

What Should You Consider While Buying The Best Health Insurance For Senior Citizens In India

A senior citizen health insurance policy can be highly useful for elderly people who are at high risk of critical illnesses. While buying this type of health insurance policy is easier these days, you should keep in mind the following factors:

  • Select senior citizen health insurance that also covers day care treatments like dialysis, radiotherapy, etc.
  • Check the list of network hospitals where you can avail cashless treatment, especially the ones located nearby
  • Check for the availability of No Claim Bonus
  • Ask about free periodic medical checkup facility related to the available health insurance plans for senior citizens
  • Look for a plan that offers lifetime renewability option
  • Check the waiting period related to pre-existing diseases you can select the plan that comes with a minimum waiting period
  • Dig deeper into the details of co-payment clause which specifies the part of the claim amount to be borne by you
  • Check for the coverage of domiciliary hospitalization

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Benefits Of Mediclaim For Senior Citizens

At CHIL, we believe aged members should lead carefree lives by enjoying luxuries of time and material things. That’s how our mediclaim for senior citizens benefits elderly people by taking care of all their old-age health worries and gifting them the joy of life. Our senior citizen medical cover provides vast coverage across hospitals, treatments, OPD, and COVID centers for helping elder ones lead tension-free retirement years.

Due to aging and evolving healthcare requirements, increased health risks inevitably indicate how vital it is to have a senior citizen health insurance scheme.

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Key Features Of Senior Citizen Health Insurance:

Some of the most significant features of health insurance plans for senior citizens in India are as stated below-

  • Hospitalization cover including medical bills and room charges
  • Cashless Hospitalisation
  • Day Care expenses which arise out of technological advancements
  • Ambulance Charges are covered
  • Pre-existing diseases are covered based on the insurance provider
  • No medical test required before availing medical insurance. This is based on insurance provider
  • Higher sum insured coverage

What Are The Benefits Of Health Insurance Plans For Senior Citizens

Best Senior Citizen Health Insurance in India

Health insurance plans for senior citizens could come with numerous benefits. Some of these are highlighted below:

  • Comprehensive CoverageMany health insurance plans for senior citizens provide coverage for a wide range of eligible medical expenses. With these policies, you may not fret about, for example, bearing daycare expenses, pre and post hospitalisation charges, domiciliary hospitalisation expenses, or ambulance charges, depending on the terms and conditions of your chosen plan
  • Life-long RenewabilitySeveral health insurance plans for senior citizens have a lifetime renewability benefit. As a result, you can avail of a lifetime cover without any restrictions on maximum age.
  • Cashless TreatmentWith this feature, an insured individual can easily avail of cashless treatment from his/her insurers network hospital. Therefore, the insured can receive treatment without having to pay anything upfront.
  • Pre-medical TestsMany providers of medical health insurance for senior citizens do not require pre-medical tests. On the other hand, if you opt for a standard health insurance policy at the age of 60 or above, you will most likely need to take a pre-screening test. This is one of the most significant benefits of health insurance for senior citizens above 60 years.
  • Tax BenefitsIndividuals availing of a senior citizen health insurance policy, for themselves or parents, can avail of tax deduction benefits of up to Rs. 50,000 under Section 80D of the Income Tax Act, 1961.

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Health Insurance For Senior Citizens Above 70 Years

The senior citizens are most vulnerable in terms of health, and they need more care and protection. When it comes to health insurance, having a comprehensive plan for the elderly is vital and it is easy to buy. There are many good options of senior citizen mediclaim policy offering smart features.

With the rising cost of medical treatment and the limited sources of income for the elderly, having a good insurance becomes a must for senior citizens so that they can bear their medical expenses. The recent introduction of many attractive and feature-packed plans of health insurance for senior citizens above 70 years has made the elderly relax in terms of their health worries.

Best Health Insurance Policies For Senior Citizens

  • Star Health Senior Citizens Red Carpet Health Insurance Policy This is one of the first insurance policies introduced in India to fulfill the medical needs of senior citizens. It offers a cashless hospitalization facility and free medical consultation 24*7. Individuals are not required to undergo pre-medical tests before purchasing this policy.
  • Age: 60 75 years
  • Premium: Rs. 5,251 Rs. 42,462
  • Renewability Option: Lifetime renewability available
  • Claim Settlement Ratio: 78.62%
  • Amount assured: Rs. 1 25 Lakh
  • Policy Tenure: 1 / 2 / 3 years
  • Max Bupa Senior First Health Insurance Plan: This policy is offered by one of the most trusted health insurance companies in India. It consists of no maximum age limit to avail of this plan. This policy grants two variants Gold and Platinum plans to meet the suitability of the individuals.
  • Age: No age limit
  • Premium: starts from Rs. 13,453
  • Renewability Option: Lifetime renewability available
  • Claim Settlement Ratio: 89.46 %
  • Amount assured: Rs. 5 25 Lakh
  • Policy Tenure: 1 / 2 years
  • Aditya Birla Active Care Policy: This policy is offered by Aditya Birla to cover senior citizens. It gives broad coverage as both inbuilt and optional coverage benefits are available. Standard, Classic, and Premium are the three variants available under this plan.
  • Age: 55 80 years
  • Premium: starts from Rs. 36,476
  • Renewability Option: Lifetime renewability available
  • Claim Settlement Ratio: 70.81 %
  • Amount assured: Rs. 3 25 Lakh
  • Policy Tenure: 1 / 2 years
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    Star Health Red Carpet:

    • Premium: 4450-18000
    • In-patient hospitalization charges like ICU expenses, nursing expenses, surgeons fees, specialist fees, cost of blood, oxygen, cost of drugs, diagnosis, etc. are covered
    • Pre and post hospitalization expenses of up to 7% are covered
    • Emergency ambulance charges covered
    • Treatment at network hospitals only
    • Domiciliary treatment is covered
    • Pre-existing diseases get covered right from the first year
    • 30 days initial waiting period with no coverage
    • 24/7 toll-free helpline

    What Is Beneficial For Me

    Policy Bazaar: Health Insurance For Senior Citizens

    Depending on your age and medical condition, you can opt for either an individual insurance or a floater plan. If you are young and the eldest member in your family is below 60 years of age, then opt for a family floater plan to cover the entire family under a single policy. If you or your parents are above 60 years of age, opt for an individual policy so as to get a higher sum insured/coverage against medical emergencies.

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    Things To Consider While Buying Senior Citizen Health Insurance

    Now that you know all about the best health insurance policies for senior citizens in India, take a quick look at the key aspects to consider before buying a policy.

    So, if you are ready to buy senior citizen health insurance, make sure you check your policy for:

    1. Age Factor – An ideal health insurance policy designed for senior citizens should have a maximum entry age of 80 years. If the company allows the policy buyer the longest possible coverage, it is a must buy. Remember, along with the entry age, you should also check the policy renewal age. While some policies allow renewal up to 80 years, others allow lifelong renewal. Go for a policy that meets your age requirements perfectly.

    2. Sum Insured – Sum insured of the policy is an important aspect to be checked before buying a policy for the elderly. With the passing age, senior citizens need more coverage. So, go ahead with a policy that provides you as much sum insured amount as you think would be sufficient for coverage without making any compromises on treatment or its quality.

    3. Coverage – The coverage benefits of the policy will determine how useful it is for the senior citizens. You should look for a plan that provides cover for expenses on domiciliary hospitalization, emergency ambulance cover, critical illnesses, as well as medical conditions like diabetes, hypertension and more.

    How To File A Cashless Claim For Treatment At A Tata Aig Network Hospital

    If you receive medical treatment at one of our network hospitals across the country, you can file a cashless claim under your Senior Citizen Health Insurance Policy. Here’s the process to file a cashless claim under your senior citizen mediclaim policy.

    Step 1: Send us your cashless insurance claim via email within 24 hours of being hospitalised. If you have a hospitalisation scheduled in advance, it is advisable to inform us before you get admitted to a hospital.

    Step 2: After receiving your health insurance claim form, you will be issued a Claim Intimation/Reference Number, which you should retain for further correspondence regarding the claim.

    Step 3: You must submit the following documents with your cashless claim.

    • A copy of your health insurance plan
    • Your insurance card
    • Your photo identity proof and address proof
    • A duly filled CKYC form in case the value of the claim is higher than 1 lakh

    Step 4: Once we have received the above documents, we will issue an authorisation letter to the relevant network hospital and pay your hospital bill.

    Step 5: All you have to worry about is your health and recovery!

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    Why Buy Senior Citizen Health Insurance Online

    Medical insurance for senior citizens is essential as age brings with it unexpected health risks. While investing online, you can browse through and compare multiple insurance plans from the comfort of your home. Other than the convenience of getting all the plans,quotes, policy documents on a screen, you may also get the benefit of some discounts and offers.Making payments online also adds ease to the process. The whole process is much smoother and hassle-free allowing you to pick any policy, read through the policy wordings and conduct an extensive research to make an informed decision.

    Key Highlights Of Tata Aig’s Health Insurance Plans For Senior Citizens

    What is the best senior citizen health insurance plan for my 65 years ...

    Our Health Insurance Plans for Senior Citizens offer you all the benefits of a Tata AIG health insurance plan. Here are the key highlights of the Tata AIG Health Insurance Plans for Senior Citizens.

    • The assurance of a TATA promise
    • Excellent health insurance coverage, starting at 15 per day*
    • Access to Cashless Insurance at 7,200+ Network Hospitals
    • 94.43 per cent Health Insurance Claim Settlement Ratio for FY 2020-2021
    • 4.5/5 Customer Ratings
    • Coverage for Pre-hospitalisation, Hospitalisation, and Post-Hospitalisation Expenses
    • Coverage for Preventive Health Check-ups
    • Coverage for Covid-19
    • Tax* Benefits under Section 80D of the Income Tax Act, 1961
    • Swift and hassle-free policy purchase and renewal process

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    Senior Citizens Can Now Enjoy Health Insurance Benefits Of Up To Rs50000

    The Union Budget 2018, announced by Finance Minister Arun Jaitley, saw the extension of health insurance benefits for senior citizens. Under the new provision, the aged will be able to get up to Rs. 50,000 deducted annually for their health insurance premiums or claim a medical reimbursement of the equivalent sum. The existing deductible limit for critical illness, no matter what the age of the senior citizen is, has also been raised to Rs.1 lakh. The amendment will fall under Section 80D of the Income Tax Act and will come into effect from 1 April 2019 to be applicable from the assessment year 2019-2020 and onwards.

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    Health Insurance For Parents Despite Co

    Earlier an existing ailment was enough for health insurers to reject a new policy application for customers. When it comes to senior citizens aged 60 and above, a large part of this segment suffers from ailments and this was the reason why insurers in the past were not ready to offer medical insurance to this segment. However, things have changed. Now, insurers are increasingly more ready to cater to such chronic ailments. Generally, if you have moderate health issues that are well managed the insurer will issue you an insurance policy.

    Common co-morbidities like diabetes or blood pressure are covered by a good number of senior citizen-specific insurance plans. While they may have to pay loading charges or bear a waiting period for some duration to get their pre-existing diseases covered.

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    How To Choose Health Insurance For Senior Citizens

    Before putting any senior citizen insurance product in your cart, make sure you check on a few factors that help you make the right buying decision. These factors include-

    1. Cost – You must look for a plan which has been designed for people with a fixed limited income.

    2. Convenience – Look for health insurance plans which incorporate maximum features so senior citizens can see treatment easily.

    3. Coverage – Choose a plan that covers vulnerabilities that come with old age.

    Why Buy Senior Citizen Health Insurance Plans

    How To Choose BEST Senior Citizen Health Insurance Plans | Mediclaim for Parents | Policybazaar

    Senior citizen health insurance plans help the older generation cope up with health issues, the treatment of which costs high. Not only such plans offer the senior citizens financial help, but good health as well.

    Some major benefits that make senior citizen health insurance plans a must buy are listed below:

    1. Senior citizen health insurance plans offer the benefit of free health check-ups which the policy buyers can avail of annually without paying anything extra. It monitors the insured persons health and promotes a healthy lifestyle.

    2. Pre and post-hospitalisation expenses are covered to protect the insured in a long period of illness.

    3. Most senior health insurance plans cover pre-existing diseases.

    4. These plans cover ambulance expenses and reduce the impact of miscellaneous health care costs.

    5. Considering soaring healthcare costs in India, the senior citizens are offered a higher sum insured range under the plans.

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    Things To Consider When Buying Health Insurance Plans For Senior Citizens

    With a pool of senior citizen health insurance plans in the market, it can be tedious to shortlist the best one for yourself or your parents. To simplify the process, you can consider the following points before purchasing a senior citizen health insurance plan:

    1. Entry Age

    While shortlisting a senior citizen plan, go for the one that allows the maximum ages above 60 years.

    2. Renewal Age

    Check the maximum age until which the plan can be renewed. Choose a plan with maximum renewal age.

    3. Coverage

    Coverage is the essence of the plan. Do check if the plan covers all your requirements such as cover for pre-existing diseases, OPD treatment, critical illness cover.

    4. Sum Insured Options

    Public insurance companies offer a higher range of sum insured options. A plan with a higher sum insured is preferred as it offers greater coverage.

    5. Premium

    The premium of the plan is also one of the features to consider while buying a senior citizen’s health insurance plan. Make sure the plan is worth the premium.

    6. Network Hospitals

    How To Compare Senior Citizen Health Insurance Plans

    It is very important to explore and compare several senior citizen health insurance plans that fit in your budget to determine which plan is best suitable according to your coverage requirements. There are some things that you should keep in mind while comparing senior citizen health insurance plans:

    1. Claim settlement ratio: While purchasing a senior citizen health insurance policy one should always consider the claim settlement ratio of the health insurance company. If you choose a health insurance company that offers less claim settlement time and has a high claim means that the insurance company is reliable and will settle without any hassles.

    2. Coverage for Day Care Treatments: Nowadays a lot of treatments and surgeries can be done via day care procedure with the help of advanced medical technology. Under a regular health insurance requires an individual to be hospitalized for at a minimum 24 hours to be able to raise a claim for the same but under senior citizen health insurance an individual can avail coverage for day care procedures such as eye surgery, dialysis, radiotherapy, chemotherapy, piles etc.

    3. Co-Payment Clause: Most senior citizens health insurance plans come with a co-payment clause under which a part of the claim amount has to be paid by the policyholder. While purchasing a senior citizenâs health insurance plan look for a plan that has less to no co-payment clause.

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    How Do I Cancel My Health Insurance Policy

    During the free-look period, if you have any objections to the terms and conditions of the policy, you can return the policy and get a refund of the premium paid with certain deductions like stamp duty charges. Submit a duly-filled surrender form at the nearest branch office along with the policy documents.

    How To Choose The Best Health Insurance For Senior Citizens

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    With our all-digital portals for finding and issuing health insurance, getting an insurance policy for senior citizens has become all the more effortless. However, if you are confused with numerous options available online, we are here to help. Gather some insights here on how to compare and find the best senior health insurance plan in 2022:

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