Is there an Upper Age Limit on Health Insurance?

If there's anything recent time has taught us, it's the unpredictability of life. Health issues can develop at any time, but their chances increase as we age. Financial security becomes crucial over time, but until when can you buy health insurance?

Read More

Policybazaar exclusive benefits
  • 30 minutes claim support*(In 120+ cities)
  • Relationship manager For every customer
  • 24*7 claims assistance In 30 mins. guaranteed*
  • Instant policy issuance No medical tests*

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Tax benefit is subject to changes in tax laws. Standard T&C Apply

Back
Find affordable plans with up to 25% Discount**
  • 1
  • 2
  • 3
  • 4

Who would you like to insure?

  • Previous step
    Continue
    By clicking on “Continue”, you agree to our Privacy Policy and Terms of use
    Previous step
    Continue

      Popular Cities

      Previous step
      Continue
      Previous step
      Continue

      Do you have an existing illness or medical history?

      This helps us find plans that cover your condition and avoid claim rejection

      Get updates on WhatsApp

      What is your existing illness?

      Select all that apply

      Previous step

      When did you recover from Covid-19?

      Some plans are available only after a certain time

      Previous step
      Advantages of
      entering a valid number
      valid-mobile-number
      You save time, money and effort,
      Our experts will help you choose the right plan in less than 20 minutes & save you upto 80% on your premium

      What is the Maximum age of Buying Health Insurance?

      Most health insurance companies in India offer a variety of health insurance policies up to the age of 65 years. Individuals over the set age brackets can buy comprehensive senior citizen plans that cover a variety of medical expenses.

      While the entry age of these plans may vary from insurer to insurer, there is usually no upper age limit. In fact, several insurers even offer plans to people aged 80 years and more.

      However, this should be confirmed with the insurer before buying any plan, as there are many insurers who don’t offer health insurance plans beyond a certain age.

      Can you buy Health Insurance for Senior Parents?

      Yes, definitely. Most of us prepare for our old age by investing in various things, including appropriate health insurance plans so that we are financially secure whenever there's a medical emergency. Many insurance companies in India offer plans specifically aimed at older people to provide them much needed coverage.

      You can buy the best travel insurance plan for your elderly parents depending on their requirements and budget. These plans are aimed at people above 60-65 years and consist of several benefits.

      However, it is recommended that you buy health insurance as early as possible. This is because the premium costs of most insurance plans increase with the age of the insurer. As we grow old, the chances of falling sick or developing disorders increase which also increases the financial risk of the insurance company.

      Why Should You Avoid Buying Health Insurance Later?

      The benefits offered by most insurance policies decline with the policyholder's age. In fact, many insurers also have additional terms such as a compulsory pre-policy checkup, no coverage for pre-existing diseases etc. This is why many people suggest buying health insurance from an early age. Take a look at some drawbacks of delaying your health insurance purchase:

      Expensive Premium

      Buying a policy later in life means a higher premium. Since people over 50 years are considered under high-risk, insurers demand higher premiums. Otherwise, the premium is lowest for children, nominal for individuals under 30-40s and higher for people over 50 years. You will either have to go for a lower sum insured or remove some add-ons.

      Many insurers will also offer the insured to go for the option of co- payout which reduces the insured's premium. However, they will need to pay for a certain amount of the bill.

      Limited Sum Insured

      Most health insurance companies in India put a cap on the total amount you can claim under different cases. This is usually because of any underlying health conditions or pre-existing conditions that the insurer may have noticed after a pre-policy checkup. People over 50 years have to undergo a health checkup before they buy a policy. The sum insured offered to seniors is also lower, with several sub-limits.

      Fewer Benefits

      As you get older, the benefits offered by your policy also decrease. Getting a higher coverage and optional covers is a difficult task as you are more likely to develop health ailments. Diabetes, arthritis, high blood pressure etc. are some extremely common conditions that make you a high-risk person. Since the chances of raising a claim are higher in such cases, insurers reduce the benefits and coverage.

      Waiting Period

      Almost all health insurance policies have a set waiting period ranging from a few months to years. While this time period may vary, purchasing a plan at an older age when you're more likely to need that money is higher. If you buy a plan in your early years, that waiting period will be over and you will be able to file a claim for the covered medical expenses.

      The duration of this waiting period can be 30 days to 2 years, depending on the ailment. Suppose you need to undergo treatment for a pre-existing disease that you’re covered for. Even then, most policies have a waiting period of 2 to 4 years. This will serve you no purpose if you need to undergo the treatment early or can’t be compensated for the same.

      Pre-Existing Illnesses

      Pre-existing diseases are those diseases that you are aware of or getting treated for at the time you purchased a policy. The older a person is, the higher are the chances of developing such conditions increase. Most insurers don't cover pre-existing diseases unless it is a special plan or an additional cover has been purchased.

      Many insurers can also place a longer waiting period in the case of pre-existing diseases, often around 2 to 4 years. Buying comprehensive health insurance earlier will save you from such conditions and restrictions.

      Wrapping it Up,

      The older you get, the higher is the risk of needing medical assistance. If for some reason you’re unable to buy health insurance plans early, plenty of senior citizen health insurance plans are available to meet your needs. However, it is ideal to buy it as early as possible to avoid disappointments and financial burdens later in life.

      Search
      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

      Health insurance articles

      Recent Articles
      Popular Articles
      How Can NRIs Save Taxes on Health Insurance in India?

      24 Nov 2023

      Health insurance is an essential buy for people in India as well
      Read more
      Is LASIK Surgery Covered by HDFC ERGO Health Insurance?

      21 Nov 2023

      The growing dependence on electronic gadgets has impacted
      Read more
      Pros and Cons of Health Insurance Portability

      06 Oct 2023

      Getting health insurance coverage is one of the sound steps
      Read more
      Does HDFC ERGO Health Insurance Cover Cataract Surgery?

      05 Oct 2023

      Cataract is one of the most common eye diseases affecting the
      Read more
      10 Essential Things that Should be Included in your Health Insurance Policy

      12 Sep 2023

      The cost of healthcare has risen threefold in the last decade
      Read more
      How to Apply for Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY)?
      Ayushman Bharat Yojana is a flagship health insurance scheme launched by the Government of India to offer universal
      Read more
      Best Health Insurance Plans for Senior Citizens in 2023
      Senior citizens are the most prone to diseases. Considering the medical inflation in India, buying health insurance
      Read more
      10 Major Benefits of Ayushman Bharat Yojana
      Pradhan Mantri Jan Arogya Yojana (PM-JAY) is the second component under Ayushman Bharat Scheme. PM Narendra Modi
      Read more
      Does Health Insurance Provide Coverage for LASIK Eye Surgery?
      A vast majority of the Indian population is suffering from vision problems. For some of them, LASIK eye surgery is
      Read more
      Pre-Existing Disease (PED) Cover from Day One
      Pre-existing diseases (PED) are mostly expensive to treat as they are chronic in nature. Unfortunately, most health
      Read more

      top
      Close
      Download the Policybazaar app
      to manage all your insurance needs.
      INSTALL