Best Health Insurance Plans for Senior Citizens in 2020

What an irony it is, the older you get, the less affordable health insurance becomes. There is a gamut of insurers offering health insurance plans for healthy individuals and why not, they prove to be a profitable proposition for them. But only a few insurers offer health plans catering to the specific needs of the old aged. The reason is obvious, the frequency and severity of sickness increases as you get older.

More often than not, health plans for senior citizens come with their own set of limitations such as stringent medical checkups, high premiums and exhaustive exclusions to the coverage. Hence, it becomes imperative to look out for some variables, while buying a senior citizen health insurance, such as:

• Entry and exit age
• Maximum age for renewal
• Coverage
• Exclusions
• Co-pay
• Waiting periods
• Critical illness cover
• Domiciliary hospitalization

We have handpicked the best health insurance plans for senior citizens. Hope it helps them to choose and buy a plan that fulfills their specific insurance needs.

Disclaimer: The ranking of the insurance companies in this content is not in any particular order. The list is not compiled as per the IRDA ranking.

1. Aditya Birla Activ Care Senior Citizen Health Insurance

This is health insurance policy by Aditya Birla that has been designed to cover senior citizens. Buying a health insurance plan can be a daunting task amid so many limitations. However, this health insurance policy offers coverage to people up to the age of 80 years. And the benefits that they can avail are given below:

Policy Coverage, Benefits, and Features

• The coverage amount ranges from Rs. 3 lakhs to Rs. 25 lakhs
• The entry age criteria is 55 years minimum to a maximum of 80 years, which makes it an ideal health plan for elderly people
• Post-hospitalization cover for nursing at home, and medical equipment at home
• Post hospitalization expenses on ventilator and oxygen cylinders are also offered
• In this health plan, the policyholder gets paid for 586 day-care procedures
• It also covers expenses incurred on Ayurveda, Unani, Siddha, Naturopathy, Yoga, and Homeopathy
• International and domestic emergency air ambulance cover is also offered

Limitations:

• Pre-existing illnesses can only be covered after a waiting period of 24 months
• 10% co-pay is applicable in the Aditya Birla Activ Premier plan
• 20% co-pay is applicable in Aditya Birla Activ Standard and Classic health plan

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 the best of 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. 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

5. 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 then this is the best one. 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

6. 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

7. 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

8. 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

9. 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)

10. 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

11. 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

12. 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 best 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

13. 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

14. National Insurance - VARISHTHA Mediclaim Policy for Senior Citizens

National Insurance is the oldest and one of the biggest players in the insurance sector. The name holds repute among customers and the insurance fraternity for its innovative plans and hassle-free claim settlement. Varistha Mediclaim is one of the best health plans available for senior citizens in terms of coverage as well as premium.

Policy Coverage Benefits and Features:

• Hospitalization expenses including room and boarding expenses, nursing expenses, ICU expenses, surgeon's fees, anaesthetist’s fees, consultant's fees, cost of drugs and diagnostic tests, etc.
• Pre and post-hospitalization expenses
• Domiciliary hospitalization
• Optional critical illness cover
• Organ's donor expenses
• Diabetes and hypertension, even pre-existing diseases are covered right from the inception of the policy (at a 10% additional premium)
• Sum insured increased by 5% for each claim-free year
• Reimbursement of cost of health check-up once in every 3 years

Limitations:

• Pre-existing diseases are covered after 1 claim-free year
• 30 days initial waiting period, before which no coverage is given and for critical illness, it is 90 days
• 76-80 age band will have to bear 10% loading charges up to 85 years
• 20% loading charges for renewal at 85-90 age bracket
• Pre acceptance medical check-up for fresh entrants           
• The insured must make 10% co-payment in all claims. Plus, if it's a case of pre-existing disease, an additional 10% co-pay must be borne by the insured

15. New India Assurance Senior Citizen Mediclaim Policy

New India Assurance Senior Citizen Mediclaim Policy offers a standard coverage at the lowest premium among all the health insurance plans available for senior citizens in the market.

Policy Coverage Benefits and Features:

• Hospitalization expenses incurred for the treatment of illness/injury
• Pre and post hospitalization expenses up to 30 and 60 days respectively
• Ambulance charges
• Limited cover for hospitalizations in government and /or registered Ayurvedic/Homeopathic and Unani hospitals
• Reimbursement of cost of health check-up once in every 4 claim-free years

Limitations:

• Waiting periods - Pre-existing diseases covered only after 18 months from the inception of the policy
• There is a 30 days initial waiting period, before which no coverage is given
• 10% loading charges for renewal between the age of 81-85 years
• 20% loading charges for renewal between the age of 86- 90 years
• Additional premium to cover pre-existing conditions like hypertension, diabetes mellitus, from the inception of the policy

Pre-acceptance health check-up required for new entrants. However, the health check is waived for those who are already insured with the insurer

16. Oriental - Senior Citizen HOPE Health Insurance

HOPE comes from Oriental Insurance, is the most popular health insurer among customers not just for its products but also for its high claim settlement and high incurred claim ratios. HOPE offers coverage for specified diseases at an optimum premium.

Policy Coverage Benefits and Features:

• Hospitalization expenses including room, boarding and nursing expenses, ICU expenses, surgeon fees, medical practitioner fees, anaesthesiology, chemotherapy, radiotherapy, artificial limbs, prosthetic devices implanted during surgical procedure like pacemaker, relevant diagnostic test, x-ray, etc.
• Diseases covered - Accidental injury, knee replacement, cardiovascular diseases, chronic renal failure, cancer, hepato-biliary disorders, chronic obstructive lung diseases, stroke, benign prostrate, orthopaedic ailments, ophthalmic diseases
• Domiciliary hospitalization expenses
• Ayurvedic/ Homeopathic/ Unani treatment covered

Limitations:

• Waiting period - 30 days initial waiting period, before which no coverage is given (except in case of accidental injury)
• 2 years waiting period for pre-existing diseases
• Compulsory co-payment of 20% on admissible claim amount
• Loading for new entrants
• Pre-acceptance medical screening is required and expenses of which must be borne by the insured

17. Religare Care Freedom Health Insurance

Religare 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

18. Raheja QuBE Health Insurance

Raheja QuBE Health Insurance policy can be purchased for individuals up to the of 65 years. This health insurance scheme is available in 4 variants i.e. That is basic, comprehensive, super and A-LA-CARTE. Let's check out some of the benefits and limitations of this medical insurance plan:

Policy Coverage, Benefits and Features:

• The policy is available on both individual and family floater basis
• It offers a wide sum assured options ranging from Rs. 1 lakh to Rs. 50 lakhs
• The policy is renewable for a lifetime, which makes it a relevant choice for elderly people who need insurance cover
• In some plan variants, specific non-medical Are also covered

Limitations:

• Some plan variants have a 20% co-payment clause

19. Royal Sundaram Lifeline Elite Plan

Royal Sundaram Lifeline Elite plan is a comprehensive insurance policy that offers an all-inclusive health cover to the insured members without any bar on the upper age limit. This health scheme is suitable for senior citizens because of its wide coverage amount and extensive coverage benefits. Check out some of the policy features and limitations as given below:

Policy Coverage, Benefits and Features:

• Royal Sundaram Lifeline Elite plan offers worldwide emergency cover to the policyholder
• The minimum sum insured in this policy is Rs. 25,00,000 and the maximum coverage amount is Rs. 1.5 crores
• It also offers international treatment cover for 11 listed critical illnesses along with return flight tickets
• the insured person can also claim expenses incurred on organ donor treatment, day care procedures, ambulance charges, and OPD treatment
• By paying additional premium the coverage is extendable to USA and Canada as well

     Limitations:

• Pre-existing diseases can only be covered after a waiting period of 2 years
• There is an initial waiting period of 30 days
• Critical illnesses can only be covered after a waiting period of 90 days

20. Reliance Health Gain Insurance Plan

Reliance Health Gain Insurance policy offers coverage to individuals up to the age of 65 years. Moreover, there are no restrictions on the policy renewal. Checkout some of the policy benefits and features here:

Policy Coverage, Benefits and Features:

• Reliance health gain insurance plan offers a minimum sum assured of Rs. 1 lakh and the maximum coverage amount of Rs. 18 lakhs
• The policy is available on both individual and family floater basis
• This plan covers day care procedures, offers cashless medical treatment and various other add-ons to enhance the coverage

Limitations:

• Pre-existing diseases can only be covered after a waiting period of 3 years

21. Star Health – Red Carpet or Senior Citizen Red Carpet Health Insurance Plan

Star Health was one of the first insurers in India to design and introduce a health insurance plan pertaining to the selective needs of senior citizens. It was also the first plan that increased the maximum entry cap from 69 years to 75 years. Star Health Red Carpet has made it to our list because of the extensive coverage it offers.

Policy Coverage Benefits and Features:

• In-patient hospitalization expenses covered including ICU expenses, nursing expenses, surgeon's fees, consultant's fees, anaesthetist's fees etc.
• Pre and post hospitalization expenses covered (up to a maximum of 7% of the hospitalization expenses) Emergency ambulance charges covered

• Domiciliary treatment and Day care procedures are covered
• A pre-existing disease starts getting covered right from the first year (except those for which treatment was received/recommended during the preceding 12 months from proposal date)
• No medical screening is required

Limitations:

• 30 days initial waiting period, before which no coverage is given
• 2 years waiting period for specific diseases like cataract, knee replacement surgery etc.
• 1 year waiting period for specific diseases like hernia, piles etc.
• Treatments currently availed or availed during the preceding 12 months from the proposal date are excluded
• 50% co-payment of the claim amount, for pre-existing diseases
• 30% co-payment of the claim amount, for all other claims

22. SBI - Arogya Top Up Policy

Elderly people who have not crossed the benchmark of 65 years of age can consider getting coverage under this top-up plan. And the benefits that a policyholder can avail are given below:

Policy Coverage, Benefits and Features:

• Coverage is provided for 142-day care procedures
• Pre-hospitalization expenses are covered for 60 days and post-hospitalization expenses are covered for 90 days
• In-hospitalization expenses - ICU charges, medical practitioner fees, room rent, nursing and boarding expenses, cost of medicines, drugs, diagnostic procedures, radiotherapy treatment, chemotherapy, blood, oxygen, dressing, operation theatre, x-ray, dialysis, cost of the pacemaker, and any other medical expenses as part of treatment
• Physiotherapy expenses as part of inpatient care
• There is 9 months waiting period for maternity expenses

Limitations:

• Reinstatement of sum assured is provided by paying an extra premium amount
• Pre-existing illnesses are covered after 4-years of the policy term
• Requires pre-medical screening for senior citizens

23. Tata AIG - MediSenior Health Insurance

Tata AIG - MediSenior is a health insurance policy for senior citizens above the age of 61 years. The benefits and limitations for the policyholders under this policy are given below:

Policy Coverage, Benefits and Features:

• Policy sum assured ranges from Rs. 2 lakhs to Rs. 5 lakhs
• This senior citizen medical insurance policy covers inpatient hospitalization expenses such as room rent charges, ICU charges, doctor and surgery fees etc.
• The policy also covers organ donor expenses, kidney transplants, and treatment taken at home
• 140-day care procedures are covered too

Limitations:

• Congenital anomalies are not covered

24. United India - Senior Citizen Mediclaim Policy

United India Senior Citizen Health Insurance is a policy for people who are aged between 61 and 80 years. The plan offerings and limitations are mentioned below:

Policy Coverage, Benefits and Features:

• Both allopathic and Ayush treatments are covered in this plan
• The sum assured amount ranges from Rs. 1 lakh to Rs. 3 lakhs
• In-patient, pre and post hospitalization expenses are covered
• Room rent charges, nursing expenses, ICU charges are recompensed
• Fees charged by the medical practitioner, surgeon, consultants, anaesthetist, and specialists
• Other expenses include- the cost of surgical appliances, blood, anaesthesia, medicines, operation theatre charges etc.

Limitations:

• Pre-existing illnesses are covered after 2-years of the continuous policy term

25. Universal Senior Citizen Health Insurance Plan

Universal Senior Citizen health insurance plan has been designed for individuals above the age of 60 years. Usually, it is difficult to find health cover as you age but this one is especially designed for senior citizens. Mentioned below are some of the advantages of buying this health policy:

Policy Coverage, Benefits and Features:

• The sum assured amount ranges from Rs. 1 lakh to Rs. 5 lakhs
• This plan for senior citizens also covered specific critical illnesses
• Universal Sompo senior citizen health insurance plan also offers lifetime renewability option

Limitations:

• The policy does not recompense the cost of medical treatment undertaken overseas
• Pre-existing diseases are not covered until the completion of the waiting period

The above stated plans are some of the leading health plans available in the market for senior citizens. Someone who relied on employer health policy for all his life and now post retirement left without health coverage, can bank on these insurance options.