Senior Citizen Health Insurance Comparison

Senior Citizen Health Insurance Plan

Senior citizen health insurance plan is a necessity, especially when you are planning to retire and live on pension or interest income from savings. A sudden medical emergency can result in a financial crisis. To avoid this, it is prudent to take a comprehensive senior citizen mediclaim insurance policy. These health insurance policies are for people who are between 65 years and 80 years of age.

Senior Citizen Health Insurance Quotes

Senior Citizen Health Insurance:

PolicyBazaar offers a wide range of senior citizen health insurance policies at affordable premiums.

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  • Buy Senior Citizen Plan Online

According to the new guidelines by IRDA, every health insurance provider has to offer coverage to individuals,' up to 65 years of age. These new guidelines will not only help individuals get coverage at a later stages of their life but will also allow them to shift insurers in case they are not satisfied with their current health insurance provider. There is no dearth of insurance providers for eldrely people. However, the challenge is to choose the right one.

Thus, we strongly recommended that you make proper comparison of different health mediclaim plans which are available in the market before purchasing. The online comparison is the right move to find and pick the best health insurance plan. Such a comparison will give you a fair idea on which is the best suited policy for you.

Read More About Health Insurance For Senior Citizens in India

Senior Citizen Mediclaim Insurance

5 Factors to Consider While Comparing Senior Citizen Mediclaim Policy

  • Cover
  • Co-Payment
  • Maximum age to renew
  • Coverage of specific diseases
  • Waiting periods

Best Health Insurance for Sinior Citizens

Get More Info On Check Points for Selecting Best Senior Citizen Health Insurance Plan

best senior citizen health insurance plans

Popular Senior Citizen Health Insurance Plans Available in India

IRDA approved general insurance companies offer medical insurance for senior citizens in India and have niche products to cater to this segment in our society. In India, these mediclaim policies for senior citizens ensure that you are financially protected during your golden years and are able to keep pace with sky rocketing medical costs.

  • Silver Health from Bajaj Allianz
  • Varistha Mediclaim offered by National Insurance
  • Red Carpet Health Insurance from Star Health Insurance
  • Optima Restore from Apollo Munich
  • Gold from Max Bupa
  • Care from Religare
Insurer - Policy Name Age Sum Assured Pre & Post Hospitalisation Expenses Pre-existing Diseases Medical Check-up
Bajaj Allianz - Silver Health Plans for Senior Citizens 46 - 70 years 50, 000 – 5 lakh Up to 3% of admissible hospital expenses incurred Covered from the 2nd year of the policy After 46 years of age, required as listed below: Complete medical report, ECG, Fasting BSL, Urine R, Liquid profile, HbA1c, SGPT, CBC, SGOT, CBC, Sr. Creatinine
ICICI Lombard - Complete Health Insurance 46 and above up to 10 lakh 30 days and 60 days respectively Covered from the 3rd year of the policy (up to 4 years for sum assured 4 lakh; subject to nonstop renewal) Medical tests required for anyone above 46 years of age at particular diagnostic centers
Star Health - Senior Citizen Red Carpet Health Insurance Policy 60 - 75 years 1, 00,000 - 10, 00,000 Only post hospital expenses maximum up to Rs. 5,000 excluding nursing charges, diagnostic charges, medicine, and consultation fee. Coverage from the 2nd years of the policy No pre-acceptance medical test required
National Insurance - VARISHTHA Mediclaim Policy for Senior Citizens 60 - 80 years (renewable up to 90 years of age Mediclaim - 1, 00,000; Critical illness - 2, 00,000 30 days and 60 days post respectively Covered after 1 claim-free year while policy remains in force Not required if insured was covered by a health insurance for last 3 years; Required for rest
New India - Senior Citizen Mediclaim Policy 60 - 80 years (renewable up to 90 years of age 1, 00,000 - 1, 50,000 30 days pre-hospitalisation (max up to 5% of hospital bill) and 60 days post hospitalisation (max up to 10% of hospital bill) Covered after 18 months of policy inception Required
United India Health - Senior Citizen Mediclaim Policy 61 - 80 years 1, 00,000 - 3, 00,000 30 days and 60 days respectively (max up to 10% of hospital bill; whichever is less) Covered after 4 years of nonstop renewal with the company Required and reimbursed only 50% and that even after proposal acceptance
Apollo Munich - Optima Senior 61 and above 2, 00,000 - 5, 00,000 30 days pre and 60 days post hospitalisation expenses Covered after 3 years of nonstop renewal with the company Required and reimbursed only 50% and that even after proposal acceptance
Oriental Insurance - Senior Citizen HOPE 60 and above 1, 00,000 - 5, 00,000 30 days and 60 respectively Covered after 2 years of nonstop renewal with the company Need to submit certain medical tests report issued by particular diagnostic centers
SBI - Arogya Top Up Policy 65 and above Sum of 1, 00,000 - 5, 00,000; 1, 00,000 - 10, 00,000 (with deductibles) 60 days pre-hospitalization and 90 days post hospitalization expenses Covered after 4 years of nonstop renewal No medical test required up to 55 years of age if no medical history is there
Tata AIG - MediSenior 61 and above 2, 00,000 - 5, 00,000 30 days and 60 days respectively Covered after 4 years of continuous renewal Required and reimbursed only 50% and that even after proposal acceptance


medical insurance benefits

Plan Benefits

A senior citizen mediclaim insurance plan covers the following:

  • Hospital Expense Cover: Expenses incurred on a patient if the hospitalization (cashless treatment) is more than 24 hrs, including room charges, doctor fees, nursing fees, cost of medicine and drugs, etc.
  • Day care costs which arise from use of special equipments or procedures like chemotherapy, dialysis, etc.
  • Medical costs prior and post hospitalization provided the number of days is variable.
  • Ambulance charges for transporting the insured, subject to maximum limit.
  • Existing diseases are also covered, subject to terms and conditions of the policy.

Read In Detail About Benefits of Senior Citizen Health Insurance Plans

Tax Benefits

This health policy not only safeguards your health but it also earns tax benefits. In this year budget, Finance Minister Mr. Arun Jaitley has increased tax deduction available under Section 80DDB to Rs 20,000 from Rs 30,000 for anyone above 60 years of age.

senior citizen health plan benefits

senior citizen health plan benefits

Benefits of Buying Policy from PolicyBazaar

Are you an older person stuck in a health insurance crisis? PolicyBazaar is you savior. If you’re an elderly person, you may find yourself in a crisis-no longer covered under employer’s health insurance policy but needing medical policy more than you ever did before.

Backed with a team of experts, we at PolicyBazaar facilitate a quick and easy comparison of available policies and thus, help in saving your time and money. There are various IRDAI approved companies offering insurance plans to old people and thus, an online comparison will ensure that you only fall to the right plan.

All you need to do is fill a simple form with information about yourself and your insurance requirements. Once you submit it, you will soon get quotes for affordable these health plans. The best part is that our insurance experts are standing by to talk with you and answer your query, if any.

What is Senior Citizen Health Insurance?


It becomes increasingly difficult to get a decent health cover as one grows older. Health insurance designed to specifically fulfill the healthcare needs of the old aged is termed as Senior Citizen Health Insurance. It is a bit pricier than regular health insurance.

Why insurance for Senior Citizen?


The reason is quite obvious. With a person growing, the frequency and severity of illness increases too. Thus, aged people have higher healthcare costs to bear. But more often than not, the people in this age group have no regular source of income apart from the pension. That is the reason, getting a health insurance at this point of time becomes all the more important.

What should I look out for in Senior Citizen insurance?


Health insurance for senior citizens comes with stringent medical check-ups, limited coverage and extensive exclusions. One should look out for the following parameters while buying it.

  • Entry/Exit age
  • Maximum renewal age
  • Co-payment
  • Domiciliary treatment

Documents Required For Senior Citizen Health Insurance?

  • Age Proof
  • Identity Proof
  • Address Proof
  • Income Proof
  • Duly Filled Proposal Form
  • Pre-Insurance Medical Tests

What is senior citizen health insurance? Why do I need it?


Health insurance that specifically caters to divergent healthcare needs of older people is known as senior citizen health insurance. Buying such a health plan has become necessity. As we grow old (i.e. after retirement), there are high chances of suffering from severe ailments. Moreover, the income post-retirement proves to be insufficient to cover hefty medical expenditure. A sudden medical emergency can result into a serious financial loss. With the right senior citizen health insurance plan, it is possible to keep all medical woes at bay. The following coverage is offered under this plan-

  • Hospitalization coverage
  • Day care costs
  • Ambulance charges
  • Pre-existing ailments

In this year budget, the basic exemption limit for senior citizens has been increased from Rs 20,000 to Rs 30,000 under Section 80D.  Moreover, if you buy health insurance for your parents, you also become eligible to get tax deductions under Section 80D.

Do I need to go through medical screening before purchasing a health plan?


Yes, you need to go through medical screening before buying a senior citizen health plan. As an old aged individual you are a riskier deal for the insurance company. Hence, most of the insurance companies need the applicant to go through medical screening.

What are the common exclusions of senior citizen health insurance?


Usually IRDAI approved health insurance companies do not cover following expenses:

  • Any pre-existing illness that was diagnosed 48 months prior to policy issuance
  • Self-inflicted injury, including attempted suicide
  • Due to drink & drive
  • Cost of spectacles/contact lenses, dental treatment
  • Medical expenditure on the treatment of AIDS
  • Non allopathic treatment
  • Cosmetic or aesthetic treatment
  • Treatment for congenital diseases

What are the things to look out for in a senior citizen plan?


Health insurance for senior citizens comes with a limited coverage. One should look out for below parameters while purchasing such a plan

Co-payment= It is the part of the eligible claims that an insured has to pay, while the remaining portion of the claim will be paid by the insurance company. Usually, this ratio of premium payable varies from 10-25%. It means, for every claim of Rs 100, a policyholder has to shell out Rs 25 before the company contributes Rs 75. For a policyholder, main benefit comes in the form of low premium rates.

Maximum renewability age= Always look for a product which offers maximum renewability. A product which ceases renewal when you need it most, especially after 60 years, is not a right plan.

Waiting period for existing illnesses = As you grow old (i.e. after retirement), so is the list of existing diseases. You should look for the insurance plan that has low waiting period for existing illnesses.

Check terms and conditions related to medical check-ups= Most of the IRDA approved insurance companies insist on health checkup of the proposer before issuing policy and accepting the premium. You may be asked to bear check-up expenditure. So you should look for a plan that asks for limited medical tests and also bears some part of test expenses.

Do all insurance companies offer cashless hospitalization?


Yes, every good insurance company offers this cashless facility at their network hospitals.

What are continuity advantages available in health insurance?


When you port your insurance policy from one insurer to another, you are allowed to carry forward your continuity advantages which you have gained by being under continuous health coverage for certain number of years. It plays an important role when at a later stage you want to add existing illness clause in your policy.

The continuity would also be applicable on time-bound exclusions, for example, most of the insurance policies exclude joint replacement surgeries for a period of 2 years. But at the time of portability, the continuity would be considered for these conditions also.

For instance, Mr. Vijay Sharma (i.e. the insured) decided to port his ten-year-old health insurance policy from New India Assurance to Apollo Munich health plan. As Mr. Sharma had spent enough time with New India Assurance, therefore, he doesn’t need to serve the waiting period to cover existing illnesses.

He also earned cumulative bonus (it is a bonus given to policyholders who do not make a single claim in a year) in his first policy which is added to the sum insured by the new plan. In this case, waive off waiting period and carry forwarding of bonus are called continuity advantages.

Who will bear the cost of pre-insurance medical checkup and where it will be conducted?


Usually, the applicant has to bear costs of medical test held prior of taking policy. IRDA approved insurance companies arrange the appointment with their empanelled hospitals.

Do companies offer free annual health checkups in health policies?


There are some insurers which offer this benefit to their policyholders (in terms of sum assured) once in a block of four claim-free years. Also there are some IRDAI approved insurance companies which are offering this facility every year, even if you have applied for a claim. So it is best to read your policy wordings to get clear idea.

To initiate the process, call up the insurer’s toll free number or visit the nearest branch office of the company. If tests are done at an empanelled center, the customer is not asked to pay any amount as the insurer pays the center as per agreed rates. However, if the insured gets the test done at a nearby lab then he has to pay charges which he can later reimburse from the company.

Whom should I submit claims- TPA or insurance company?


Claims should be submitted to the TPA except in cases where there is no TPA and the insurance company is doing in-house claim settlement.

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