Best Health Insurance Plans for Senior Citizens in 2020

2. Bajaj Allianz - Silver Health Plan for Senior Citizens

Bajaj Allianz is a brand that is known to come up with customer-oriented insurance plans. Silver Health is one such plan, offering health insurance to senior citizens.

Policy Coverage Benefits and Features:

• In-patient hospitalization expenses are compensated by the insurer
• Pre and post hospitalization expenses covered (up to a maximum of 3% of admissible hospitalization expenses)
• Emergency ambulance charges covered subject to a limit of Rs 1000/claim
• In-house health claim administration team is in place
• 5% cumulative bonus gets added to your limit of indemnity for every claim-free year
• 5% family discount is offered

Limitations:

• Waiting periods - Pre-existing disease starts getting covered only from the 2nd year of the inception.
• 30 days initial waiting period, before which no coverage is given.
• Certain diseases such as hernia, piles, cataract, benign prostatic hypertrophy, hysterectomy shall be covered after a waiting period of 1 year
• Joint replacement surgery (other than due to accidents) will have a waiting period of 4 years
• Pre-medical screening cost has to be borne by the proposer. It will only be reimbursed if the proposer is accepted
• 20% co-payment, in case the treatment is taken at a non-network hospital

3. Bharti AXA Smart Super Health Insurance

Elderly people up to the age of 65 years are suitable to buy this policy. However, the sum assured ranges from Rs. 5 lakhs to Rs. 1 Crore, as senior citizens require a higher coverage amount to get treatment for major illnesses at their age. Check out what the plan has to offer:

Policy Coverage, Benefits and Features:

• The minimum sum assured is Rs. 5 lakhs and the maximum is Rs. 1 Crore
• Inpatient treatment expenses including – cost of diagnostic tests, surgical equipment’s, operation theatre, ICU charges, medical practitioners’ fees
• AYUSH treatment up to the sum assured limit. Valid only in the government-approved centre with more than 5 Ayush doctors and 15 in-patient beds.
• Domiciliary hospitalization up to the sum assured limit
• Add-on cover for critical illnesses – amount should not be more than the basic sum insured

Limitations:

• Critical Illness before 60 days of the waiting period and without completing 30 days of the survival period
• Before 24 months any claim arising for specified diseases or ailments or surgeries
• No pre-existing disease shall be covered before a waiting period of 2-years
• Congenital diseases to be covered after a waiting period of 48 months

4. Care Health Care Freedom Health Insurance

Care Health Insurance (Formerly known as Religare Health Insurance) has designed this plan for people above the age of 46 years. It makes a perfect health plan for senior citizens as there is no upper age bar. Here are some of the plan coverage, benefits and limitations:

Coverage Benefits and Features

• Sum insured option - 3 lakhs, 5 lakhs and 7/10 lakhs
• Policy tenure can be 1 to 3 years
• Annual health check-ups including - blood tests, lipid profile, LFT, KFT etc.
• Lump sum payment of consumable allowance on a daily basis after 3 days of hospitalization for a maximum of 7 days)
• Coverage is provided up to a maximum of 6 members
• Dialysis cover
• Companion benefits for hospitalization exceedingly more than 10 days
• 100% reinstatement of sum insured on exhaustion of sum assured

Limitations:

• Sub-limits applicable
• Pre-existing diseases can only be covered after 2 years
• OPD expenses are not covered in this policy

5. Chola Individual Insurance Healthline Plan

Chola Individual Healthline plan is an insurance policy that is suitable for senior citizens as the entry age limit is up to 65 years and comes with lifelong renewability option. This policy is available in three variants i.e. Standard, Advanced, and Superior.

Policy Coverage, Benefits and Features:

• Chola MS Individual Healthline plan covers the cost of hospitalization including doctor fees, ICU charges, prosthetic device implantation, and organ transplantation charges
• 60 days of pre-hospitalization and 90 days of post-hospitalization expenses
• OPD dental expenses are covered in the Chola Individual Healthline Advanced Plan
• 141-day care procedures are also paid under this medical insurance policy

Limitations:

• Medical check-ups are required for senior citizens
• Pre-existing diseases can only be covered after a waiting period of 48 months
• 30-days of the initial waiting period for other claims except for accidental cases

6. Edelweiss Health Insurance Platinum Plan

The platinum plan is a perfect health insurance policy for senior citizens as it does not have any age criteria. And if you are looking for a 1 Crore health insurance policy check out some unique offering of this health scheme:

Coverage, Benefits and Features:

• Edelweiss platinum health plan offers a minimum sum assured of Rs. 15 lakhs and a maximum of Rs. 1 Crore
• All the medical expenses such as hospitalization charges, pre and post hospitalization, ICU, day-care treatments, domiciliary hospitalization, organ donor cover, as well as Ayush treatment is paid for
• ICU charges are covered without any capping
• It can cover up to a maximum of 8 members in a single policy
• You can also avail shared accommodation benefits, bariatric surgery cover, and critical illness cover

Limitations:

• Pre-policy medical check-ups are mandatory

7. Future Generali Health Suraksha Individual Plan

Future Generali health Suraksha plan is an insurance policy that offers coverage to individuals up to the age of 70 years. It makes a suitable health plan for senior citizens for the following features and benefits as listed below:

Policy Coverage, Benefits and Features:

• Future Generali Health Suraksha plan provides coverage amount from Rs. 50,000 to Rs. 10 lakhs
• The policy covers all the hospitalization expenses, daycare expenses, ambulance charges, hospital daily cash benefit, organ donor expenses, and accidental hospitalization
• This plan can be renewed easily for lifetime
• 5% loyalty discount is provided to the insured person
• Family discount and instalment facility is also provided in this plan

Limitations:

• Pre-medical check-up is required for senior citizens
• Pre-existing diseases are only covered after a waiting period of

8. HDFC ERGO Health Optima Senior (formerly known as Apollo Munich Health Optima Senior)

For senior citizens this is a perfect health insurance policy as it offers coverage to people above the age of 61 years. It can be difficult to get health cover at such an age but with this health plan it is possible:

Policy Coverage, Benefits and Features:

• The coverage amount ranges from Rs. 2 lakhs to Rs. 5 lakhs
• The elderly couple can be insured under a single sum and avail discount of 5% on the policy premium
• 50% of medical screening and test expenses are paid
• 140 day-care procedures are covered
• It offers an easy policy renewal process
• 5% Cumulative Bonus for every claim-free year

Limitations:

• Pre-existing diseases are covered only after a waiting period of 3-years
• There is a waiting period of 2-years for cataract, hernia, and joint replacement surgeries

9. HDFC ERGO my: health Medisure Classic Insurance

HDFC ERGO my: health Medisure Classic is an insurance policy with no age restrictions, and this is what makes it an ideal choice for senior citizen health cover. Check out some unique offering of this health scheme:

Policy Coverage, Benefits and Features:

• It is a comprehensive plan that covers senior citizens
• it offers coverage for in hospitalization expenses, pre and post hospitalization expenses, day care procedures, Ayurvedic treatment cover, maternity cover etc.
• 5% discount is offered on purchase of a 2-year policy
• Some add-on benefits that will be useful for senior citizens include critical illness cover and waiver of room-rent sub-limits

Limitations:

• Pre-existing diseases are covered after a waiting period of 3 years
• 30 days of the initial waiting period
• Certain specific diseases are only covered after a waiting period of 2 years
• Premedical screening is required for senior citizens

10. IFFCO Tokio Individual Medishield Plan

IFFCO Tokio Individual Medishield Plan is an insurance policy that offers insurance cover to applicants up to the age of 80 years, and this is what makes it an ideal choice for senior citizens. Checkout some unique offering of this scheme:

Policy Coverage, Benefits and Features:

• The policy covers hospitalization expenses, pre and post hospitalization expenses as well as organ donor expenses
• Non-allopathic treatments such as Ayurveda and homeopathy are covered
• 10 major critical illnesses can be covered as an add-on
• 5% discount on premium is offered on insuring 2 members and 10% premium discount for insuring more than 2 members under the same plan

Limitations:

• Pre-medical screening is required for senior citizens
• Pre-existing diseases are covered after a waiting period of 3 years
• Treatment during the first 30 days or waiting period of the policy (unless it is accidental case)

11. Kotak Health Care Plan

Kotak health care plan offers coverage to individuals up to the age of 65 years. This is a suitable plan for senior citizens who are between the age group of 60 years and 65 years and it comes with lifetime renewability option. Let's check out the plan benefits and feature below:

Policy Coverage, Benefits and Features:

• The coverage amount ranges from Rs. 2 lakhs to Rs. 100 lakhs
• As coverage is extendable to dependent parents there for senior citizens up to the age of 65 years can be insured in the same plan
• There is no exit age in this health plan
• And it comes with several optional benefits such as convalescence benefit, donor expenses, critical illness cover, and hospital daily cash allowance etc.

Limitations:

• Pre-existing diseases to be covered after a waiting period of 4 years

12. Liberty Health Connect Supreme Plan

Liberty Health Connect Supreme is an insurance policy that offers coverage to individuals up to the age of 65 years. Moreover, there are no restrictions on the policy renewal. Check out the policy offerings here:

Policy Coverage, Benefits and Features:

• In addition to the Hospitalization expenses, it also covered day-care expenses, domiciliary hospitalization expenses and organ donor expenses
• The coverage amount ranges from Rs. 2 lakhs to Rs. 15 lakhs
• The policy also offers coverage to the insured members to seek a medical second opinion
• No-claim-bonus is offered for not filing a claim and ranges from 10% to 100%
• The plan also covers the cost incurred on health-check-ups

Limitations:

• Pre-existing diseases can only be claimed after a waiting period of 2 years

13. Max Bupa Health Companion Family Floater Plan

This is a perfect health insurance plan for senior citizens as there is no age bar to get enrolled in this policy. Moreover, it offers lifetime renewal options. Check out the policy details below:

Policy Coverage, Benefits and Features:

• The plan offer higher sum assured options up to Rs. 1 Crore
• All day care treatments are covered by Max Bupa Heartbeat Plan
• Yearly medical check-up coverage is also provided
• 10% increase of sum assured upon policy renewal
• The good part about this policy is that there is no room-rent capping

Limitations:

• No medical expense would be covered in the first 3 months until it’s an accident or medical emergency
• Pre-existing diseases to be covered after a waiting period of 36 months and 48 months as per the plan opted

14. Manipal Cigna Lifestyle Protection Accident Care

This health plan is recommended for senior citizens as the age limit for coverage is up to 80 years. This policy can be purchased along with a basic health plan. Check out some unique features along with limitations under this health plan:

Policy Coverage, Benefits and Features:         

• Coverages offered to NRI’s provided the eligibility criteria is met
• The policy is available on both individual and family floater basis
• The sum insured under this policy is 15 times the annual income of the earning member or the proposer

Limitations:

• People Between the age group of 70 years in 80 years require premedical check-ups
• It only covers accidental hospitalisation cases
• Moreover, the cashless treatment facility is also not available

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