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*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
Senior Citizen Health Insurance is a medical insurance policy that offers medical coverage to individuals between the age group of 60 and 75 years. Some of the unique benefits of senior citizen mediclaim policy include cashless hospitalization cover, day care expenses, pre-existing and disease cover.
As per the IRDAI regulations, every health insurance provider now offers coverage to individuals, up to the age of 65 years. These updated guidelines help individuals to get coverage at later stages of their life. Moreover, the insurers allow the policyholders to switch insurers if they’re not satisfied with their current insurance provider. There is no dearth of insurance providers for elderly people in India. However, the challenge is to choose the right senior citizen health insurance plan.
The Senior Citizen Mediclaim offers a range of coverage benefits to elderly people. It pays for the expense incurred on hospitalization, surgery treatment, critical illnesses, accidental injuries, and pre-existing diseases. If the policy is renewed timely, it can cover you till the age of 80 years with lifetime renewal benefits.
Below are some of the primary benefits of buying senior citizen mediclaim policy in India:
Senior Citizen Health Plans Name |
Health Insurance Companies |
Entry Age |
Sum Insured (Rs.) |
Pre-existing Diseases Covered |
Medical Check-up |
Activ Care Senior Citizen Health Insurance |
Aditya Birla Health Insurance |
55-80 years |
Standard: up to 10 Lakh Classic: up to 10 Lakh Premier: up to 25 Lakh |
From the 2nd year |
Required |
Silver Health Plan for Senior Citizens |
Bajaj Allianz Health Insurance |
46-70 years |
50, 000 - 5 Lakh |
From the 2nd year |
After 46 years of age |
Bharti AXA Senior Citizen |
Bharti AXA Health Insurance |
18-65 years |
5 Lakh-1 Crore |
From the 2nd year |
- |
Care Health Freedom Health Plan |
Care Health Insurance (Formerly known as Religare Health Insurance) |
46 years and above |
3 Lakh-10 Lakh |
From the 2nd year |
Required ( as per the case) |
Individual Healthline Plan |
Cholamandalam Health Insurance |
Up to 65 years |
2 Lakh-25 Lakh |
- |
Not required up to 55 years of age |
Digit Health Insurance |
Digit Health Insurance |
N/A |
N/A |
N/A |
N/A |
Health Insurance Platinum Plan |
Edelweiss Health Insurance |
Any age |
15 Lakh- 1 Crore |
- |
Required |
Health Suraksha Individual Plan |
Future Generali Health Insurance |
Upto70 years with lifetime renewal |
5 Lakh-10 Lakh |
From the 2nd year |
46 years of age and above |
Health Optima Senior (formerly known as Apollo Munich Health Optima Senior) |
HDFC ERGO Health Insurance |
61 years and above |
2 Lakh- 5 Lakh |
From the 3rd year |
Required and reimbursed only 50% |
my:health Medisure Classic Insurance |
HDFC ERGO General Health Insurance |
No upper age limit |
2 Lakh- 5 Lakh |
From the 3rd year |
Not Required |
Individual Medishield Plan |
IFFCO Tokio Health Insurance |
3 months- 80 years |
50,000- 5 Lakh |
From the 3rd year |
After 60 years |
Kotak Mahindra Family Health Plan |
Kotak Mahindra Health Insurance |
Up to 65 years |
2 Lakh-100 Lakh |
From the 2nd year |
- |
Liberty Health Insurance |
Liberty Health Insurance |
Up to 65 years with lifetime renewal |
2 Lakh-15 Lakh |
from the 2nd year |
Required after 55 years of age |
Heartbeat Plan |
Max Bupa Health Insurance |
entry age up to 65 years |
2 Lakh- 50 Lakh |
From the 2nd year |
Based on the age of the insurer |
Lifestyle Protection Accident Care |
Manipal Cigna Health Insurance |
entry age up to 65 years |
50,000- 10 Crores |
- |
- |
Varishtha Mediclaim Policy for Senior Citizens |
National Insurance Health Insurance |
60-80 years (renewable up to 90 years of age |
Mediclaim – 1 Lakh; Critical illness – 2 Lakh |
From the 2nd year |
Required |
New India Assurance Senior Citizen Mediclaim Policy |
New India Assurance Health Insurance |
60-80 years (renewable up to 90 years of age |
1 Lakh- 1.5 Lakh |
after 18 months |
Required |
Senior Citizen HOPE Health Insurance Policy |
Oriental Health Insurance |
60 years and above |
1 Lakh- 5 Lakh |
From the 2nd year |
Required from specific diagnostic centers |
Raheja QuBE Health Insurance Policy |
Raheja Health Insurance |
Up to 65 years |
1 Lakh- 50 Lakh |
- |
- |
Lifeline Elite Plan |
Royal Sundaram Health Insurance |
No Age bar |
25 Lakh-1.5 Crores |
From the 2nd year |
- |
Health Gain Insurance Plan |
Reliance Health Insurance |
Entry up to 65 years |
3 Lakh-18 Lakh |
From the 3rd year |
Required as per the age |
Senior Citizen Red Carpet Health Insurance Plan |
Star Health Insurance |
60-75 years |
1 Lakh-10 Lakh |
Coverage from the 2nd years of the policy |
No pre-acceptance medical test required |
Arogya Top Up Policy |
SBI Health Insurance |
Entry up to 65 years |
1 Lakh-5 Lakh; |
From the 4th year |
After 55 years of age |
MediSenior Health Insurance |
Tata AIG Health Insurance |
61 Years and above |
2 Lakh- 5 Lakh |
From the 4th year |
Required and reimbursed only 50% |
United India - Senior Citizen Mediclaim Policy |
United India Health Insurance |
61-80 years |
1 Lakh - 3 Lakh |
From the 4th year |
Required and reimbursed only 50% |
Senior Citizen Health Insurance Plan |
Universal Sompo Health Insurance |
60 years and above |
1 Lakh- 5 Lakh |
24 months |
Required |
Senior citizens need to have health insurance cover as health issues are unpredictable. Hospitalization can be both emotionally and financially distressing for them and their families. Some of the other prominent reasons why senior citizens need health insurance cover are given below:
Senior citizen health insurance plans include a range of medical coverage benefits from home treatment to hospitalization expenses. Some of the common inclusions under senior citizen mediclaim policies are enumerated below:
Although a health insurance policy covers most of the health hazards when diagnosed, there are times when mediclaim cover for a senior citizen is denied. Below is a list of common exclusions under a senior citizen health insurance policy:
A senior citizen mediclaim policy offers health insurance cover to elderly people who are vulnerable to serious illnesses that may require expensive treatment. Scores of young individuals are on pins and needles when talked about the health requirements of their parents, peculiarly when their parents are the senior citizens.
Many of the health insurance policies do not cover daycare treatments. Also, in order to make a mediclaim, hospitalization is mandatory for at least 24 hours. However, you must be grateful to several modernizations, today; many methods do not need any hospitalization. Therefore, it is better to choose a plan covering the highest number of day-care techniques and procedures like dialysis, chemotherapy, radiotherapy, etc.
Check out the list of network hospitals where you can avail cashless treatment. Every health insurance company has a broad network of hospitals registered under their network. You can check which ones are covered under your senior citizen health insurance policy. In case of medical emergencies, you can get your parents treated from any of these network hospitals. And everyone prefers to go to the hospital close to their vicinity and avail specialized treatment.
Claim settlement ratio and claim settlement time should be the two most significant factors taken into consideration. Faster the claim settlement time and higher the claim settlement ratio usually means that the insurer is doing a great job in meeting the policyholder’s claim requests.
A lot of insurance companies provide a no-claim discount or a no-claim bonus if no claim is lodged by the policyholder. In such a case, either the premium decreases or the sum insured increases or both.
Hunt for a best health insurance plan that allows the policyholders to avail medical check-up for free on annual basis. This usually is offered after completion of certain policy years. The check-up or tests have no impact on the premium while the policy comes up for the renewal.
Senior Citizen Health Insurance allows the policyholders to file a health insurance claim when they get hospitalized or have to avail emergency medical treatment. These policies facilitate raising a mediclaim to avail cashless treatment at a network hospital or get reimbursement of expenses incurred on the treatment. In any case, the policyholder must inform their insurer about the same within 24 hours of hospitalization for both cashless and reimbursement claims:
The following steps are involved in general for lodging and settlement of senior citizen health insurance claims:
If you avail medical treatment in a network hospital then you can file cashless claim for a senior citizen policy as listed under:
Make sure to meet all the requirements for faster claim processing and settlement
This health policy not only provides you with an assurance for health benefits when you might actually need them but also entitles you to avail tax exemption under section 80D of the Income Tax Act, 1961. You are eligible for an income tax rebate of Rs. 30,000 if you hold a mediclaim policy for senior citizens for your elderly parents. You can also avail am additional rebate of Rs. 5,000 for preventive health checkups annually.
If you're still earning and also paying health insurance premium on behalf of your son or daughter, then you can avail an additional income tax rebate of Rs. 25,000. This means that you can avail tax deduction of max up to Rs. 60,000 under section 80D.
*Tax benefit is subject to changes in tax laws
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
Taking into consideration the way Coronavirus is permeating in India; buying health insurance for coronavirus is the need of the hour. And like everyone knows the worst affected by COVID-19 are the elderly people and those with weaker immunity. For this reason, senior citizens are also considered to be at a higher risk.
As per the data nearly 95% of deaths have been in people above the age of 60 years.
So, it makes sense to secure your elderly parents with a senior citizen health insurance plan that would cover up the treatment cost as it is not a pre-existing condition. However, the sum insured and coverage limit pertaining to the medical tests, quarantine expenses, waiting period, etc. can vary from one insurer to another. You can also buy Corona Kavach and Corona Rakshak policies for senior citizens up to the age of 65 years. These two plans also cover the cost of PPE kits, gloves, masks, oximeter, ventilator, etc. that are not covered under a basic health insurance policy.
Are you an older person stuck in a health insurance crisis? Policybazaar is your savior.
Backed with a team of experts, we at Policybazaar facilitate a quick and easy comparison of available health insurance mediclaim policies and thus, help in saving your time and money. There are various IRDAI approved insurance companies offering senior citizen health 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 senior citizens health insurance plans. The best part is that our insurance experts are standing by to talk with you and answer your query, if any.
For instance, Mr. Vijay Sharma (i.e. the insured) decided to port his ten-year-old health insurance policy from New India Assurance to HDFC Ergo 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.
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.