7 Points to Check before Buying Health Insurance for Senior Citizen

One of the best ways to make aging parents feel cared for is to get them the best senior citizen health insurance policy. These customizedsenior citizen health insurance plans are critical; because it is assured that they are financially independent and well taken care of in the event of critical illness.

Read More

Get ₹5 Lac Health Insurance starts @ ₹200/month*
Get ₹5 Lac Health Insurance starts @ ₹200/month*
Tax Benefitup to Rs.75,000
Save up to 12.5%* on 2 Year Payment Plans
7 Lakh+ Happy Customers

*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

Get insured from the comfort of your home No medicals required
I am a

My name is

My number is

By clicking on ‘View Plans’ you, agreed to our Privacy Policy and Terms of use
Close
Back
I am a

My name is

My number is

Select Age

City Living in

    Popular Cities

    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

    When did you recover from Covid-19?

    Some plans are available only after a certain time

    With numerous senior citizen health insurance plans available today, comparing and choosing the best one can be a daunting and cumbersome task. To make sure you pick the best policy, it is imperative to evaluate all options and essential aspects, and make a well-informed decision thereafter.

     
    Here are the important factors to consider while selecting the best senior citizen health insurance plans:
    1. Age

    Entry age: A critical aspect in senior citizen health insurance plans is the age factor. Even the best features are far from useful if one cannot avail the health insurance plan in the first place due to age exceeding the limit permitted by the policy. Some insurers, especially in the public sector, offer health insurance plans for senior citizens in the 60-80 year age group. Certain other insurers have health insurance policies without any maximum entry age.

    The best senior citizen health insurance plans are those that allow entry even at the age of 80. Pick a plan that provides the longest coverage tenure, allowing entry at any age, along with medical cover that goes on for a longer period.

    Renewal age: This is the age or time until when the health insurance policy can be renewed by the insured. Certain health insurance plans allow renewal only till 80 years of age, following which the policy cannot be renewed. This age limit for renewal varies between companies, so pick a plan that suit your requirements.

    2. Sum Insured

    The sum insured or health cover is another vital consideration when selecting a senior citizen health insurance plan. With advancing age, health risks increase and therefore senior citizens need higher health cover protection. Consider the right face value - higher the face value, higher the final coverage provided.

    3. Coverage

    It is essential to ensure that the best senior citizen health insurance plans cover a broad range of illnesses, particularly critical illnesses, as chances of such incidences increase with progressing age. You must also thoroughly review all terms and conditions concerning exceptions, i.e., the illnesses that the policy does not cover, especially the pre-existing medical conditions.

    Hereditary medical conditions such as diabetes, hypertension, must be watched out for. The best health insurance plans for senior citizens offer maximum illnesses’coverage with minimum exceptions.

    4. Pre-Existing Medical Conditions

    Defined in the health insurance policy itself is the waiting period before a claim can be made for a pre-existing medical condition. This is a critical factor because the threat of illness and resultant hospitalization due to a pre-existing medical condition increases with age and is hence higher for senior citizens.

    5. Broad Hospital Network

    A senior citizen’s health insurance policy should ideally have a broad network of hospitals, including the good ones in their immediate vicinity. This is particularly helpful when senior citizens need emergency medical care and/or hospitalization. It is therefore necessary to opt for a health insurance plan that includes a wide network of hospitals specializing in a broad range of treatments.

    Read More About-: Best Senior Citizens Health Insurance Policy

    6. Premium

    Premiums are another important consideration when comparing health insurance policies for senior citizens. Because senior citizens are at higher health risk levels, insurance companies usually charge higher premiums.

    Senior citizen insurance policy rates vary as per age. Other factors affecting the rates of such policies are lifestyle, family history, overall health, etc. Healthier senior citizens get better coverage at lower premiums.

    Choose wisely by comparing the various senior citizens’ insurance policies that different insurance companies offer at varying premium rates. Keeping in mind the above-mentioned criteria, these comparisons/evaluations make it easier to choose a good health insurance plan with affordable premiums.

    7. Co-Payment Clause

    Health insurance policies for senior citizens have a co-payment clause that varies from insurer to insurer. A co-payment clause means that the insured has to share a part of the medical expenses they incur.

    Over to You!

    To get a good senior citizen’s health insurance policy in tune with your specific needs, budget and requirements, it is advisable to consult an experienced financial/insurance advisor specializing in health insurance. Getting old and spending the old age in peace and happiness is what everyone wants, and having a good health insurance policy can make these golden years happy, healthy and stress-free.

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

    Written By: PolicyBazaar - Updated: 29 July 2021

    Health insurance articles

    Recent Articles
    Popular Articles
    Is Dermatology Covered by Health Insurance Plans?

    21 Oct 2021

    The prevalence of dermatology has risen significantly in India...
    Does Health Insurance Cover Orthopaedic Surgery?

    09 Oct 2021

    Orthopaedic health conditions have become quite common in India...
    Claim Settlement Ratio Vs Incurred Claim Ratio - Know the Difference

    07 Oct 2021

    Every health insurance plan comes with unique benefits to attract...
    What Is The Right Age To Purchase A Health Insurance Policy?

    30 Sep 2021

    Every person must have a health insurance policy to deal with...
    Does Your Health Insurance Remain Valid If You Move Abroad?

    30 Sep 2021

    Health insurance is one of the best investments that you can make...
    Best Health Insurance Plans in India 2021
    Finding the best health insurance plan from so many different health insurance companies can get confusing for many...
    Best Maternity Insurance Plans
    Maternity or pregnancy is an important phase of life, and one needs to prepare in advance to embrace parenthood...
    Top Family Health Insurance Policies in India 2021
    From the air we breathe to the food we eat; everything is intentionally or unintentionally subjected to...
    Health Insurance Claims Ratio- Things You Should Look Before Buying Health Insurance
    There has always been a doubt in customers mind about whether the private company will keep its side of the bargain...
    Best Health Insurance Plans for Senior Citizens in 2021
    Considering the increase in medical inflation in India, buying adequate health insurance for your loved ones has...
    Close
    Download the Policybazaar app
    to manage all your insurance needs.
    INSTALL