Health insurance is a must when you or elders in the family start to get older by day. Insurance companies in India offer health plans that are specifically designed for senior citizens. Generally, an entry age for such a policy is 60 years and above, and covers various medical needs including the cost of in-patient hospitalization, pre-and post-hospitalization, modern treatment, home treatment, etc.
However, not all senior citizen health policies provide similar benefits. There’s a compulsory co-payment condition, sub-limits on room rents, etc. Also, health insurance plans have a certain limit on sum insured, which depends on the premium amount insured chooses to pay.
For this reason, we’ve analyzed 30 major products, and chose the best health insurance plans for senior citizens to help you make the right decision.
Let’s explore the best health insurance plans for senior citizens to look forward to in 2024.
Featured Partners
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Aditya Birla Activ Fit Health Insurance
Sum Insured
INR 2 lakh to INR 2 crore
Minimum and Maximum age
5 years and no limit
Initial waiting period
0 Days
Claim Settlement Ratio
98%
Other Benefits
No room rent limit, 100% Bills covered
Aditya Birla Activ Care Plan
Aditya Birla Activ care is a health insurance plan designed for senior citizens that has an entry age of 55 years to 80 years. The policy guarantees sum assured starting INR 3 lakh to INR 25 lakh, depending on the premium amount opted by the insured. The policy covers home treatment, 30 days of pre-hospitalization and 60 days post-hospitalization medical expenses, and there’s a free health annual check-up too. The insurance company has over 10,000 network hospitals spread across the country.
What’s more, the insured can avail of 10% to 50% for every claim-free year. There’s also a 5% family discount, and 7.5% discount if the insured takes up the policy for a long-term. Remember, the insured has to, however, co-pay 10% of the overall cost of the treatment while the remaining balance is taken care of by the insurer. Also, there’s a two-year waiting period for pre-existing diseases.
Star Health Senior Citizens Red Carpet
Star Health senior citizens red carpet is another health policy for citizens that has an entry age starting 60 years to 75 years old people. Major benefits of the policy include day care procedures and surgeries, 12 modern treatments, as well as cataract surgery up to certain limits. The sum insured covers expenses up to INR 25 lakh for both individual and family floater basis plans and the insured has to compulsory take pre-medical check up.
However, the waiting period is one year if the insured has any pre-existing diseases. Also, there’s a 30% copayment condition, and the 70% of the total medical cost is borne by the insurance provider. Remember, the insured can avail of 5% discount on premiums if the policy is bought online via the provider’s official website. The insurance provider has a network of more than 12,000 cashless hospitals spread across the country.
Care Health Insurance Senior Citizen Policy
Care health insurance policy can be taken by senior citizens who are 60 years, and doesn’t have a maximum entry bar. The sum insured is, however, up to INR 10 lakh depending on the premium amount opted by the insured. The insurance provider has a whopping network of 19,000 hospitals, and avails benefits including in-patient hospitalization, ICU and surgeon fee, day care treatment, AYUSH treatment, modern treatments, to name a few.
Although the insured has to pay 20% of the total cost as co-payment, this amount can be waived off if the insured chooses to pay an additional amount upon the premium. On the downside, the insured has to wait for four years for the treatment of pre-existing disease.
Niva Bupa Senior First Health Policy
Niva Bupa senior first health policy is known for its comprehensive plan that has an entry age starting 61 years to 75 year olds senior citizens. Depending on the premium amount, the insured can avail of extensive coverage of modern hospitalization treatments, road and air ambulance costs, and all day-care treatments, pre-and post-hospitalization cost with the sum insured up to 25 lakh. Notably, there are no sub-limits for the treatment of cataract, joint replacements, etc.
There’s a whopping 50% copayment condition on all claims that an insured has to pay out of pocket, and additional 10% for availing higher room rent. However, there’s an option to reduce the co-pay by paying an additional sum upon the premium amount.
Bajaj Allianz Health Insurance For Senior Citizens – Silver Health Plan
Bajaj Allianz provider silver health plan for senior citizens comes with a 20% co-payment condition on each claim, which is quite fair in comparison with its competitors, with an option to waive the amount upon extra premium. Moreover, the sum insured starts from INR 50,000 up to INR 50 lakh, depending on the premium amount, and the condition for pre-existing disease is just one year. However, pre-medical check up is mandatory to avail of the policy benefits.
On the downside, the insurance provider has a network of only 8,000 plus cashless hospitals. If the hospital is not covered by the insurance provider, the insured has to pay the overall cost, however, claims can be made separately. Remember, the maximum entry age of a senior citizen to avail of the policy is 70 years.
