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Health Insurance Comparison Chart For Senior Citizens in India
Health insurance is something which is required by people of every age. Phew! No more of worries related to high medical bills, emergency treatments or day care procedures as medical insurance has come like a savoir for all. Health insurance for senior citizen is one of the essentials which are must for their secured and stress free future. Today, there are numerous insurance companies which provide health insurance for seniors and all the policies come with different pros and cons. The selection of a good plan from the sea of such health policies might sound a bit tricky, and actually, this step should be taken after a thorough R&D. An individual should check the cover and decide on the things he/she needs in future.
Also, one should check the premium rates along with riders and benefits available. Well, the premium is likely to be higher because of the age factor, but it is undoubtedly a great investment for seniors. An elderly person does not need to agonize about financial condition in case of unforeseen medical emergencies and can easily go for free health check-ups with a good health insurance plan.
When finalizing a policy, an individual must take care of certain parameters like- premium rates, cover or benefits, features, exclusions and terms & conditions.
| You may also like to Read: Tax Benefits under Section 80C |
Health Insurance Comparison Chart
Analyzing the following points, below is a comparison chart of some of the health insurance policies on the major features:
|
|
Bajaj Silver -55 yrs & above |
Star Medical Classic- 2 to 80 yrs |
Star Red Carpet- 60 to 69 yrs |
National Varishtha -60 yrs& above |
|
Maximum Entry Age |
70 |
75 |
69 |
70 |
|
Maximum Exit Age |
75 |
80 |
Life long |
90 |
|
Pre-existing waiting period |
1st year for 50% S.A |
4 years |
2nd yr with 50% co-payment |
1st claim free year |
|
Non-network hospital treatment |
Co-payment of 20% |
No charges |
No charges |
No charges |
|
Room Rent |
No room rent |
2% of S.A up to Rs. 4000/- |
1% of S.A |
1% of S.A |
|
Family Discount |
5% |
Nil |
Nil |
Nil |
|
Buying Policy Process |
Too many medical test and inflexible process |
Abundant restrictions, many tests but, simple issuing |
Easy to buy and no medical tests |
Easy issuing but lower cover |
|
Special Exclusion |
No joint replacement surgery for 4 yrs |
|
|
|
|
Premium for Rs. 1 Lakh |
Rs. 8056 |
Rs. 3372 |
Rs. 5000 |
Rs. 5166 |
Apart from these plans, one can check out various other policies and compare the benefits provided. This process helps to select the policy which best meets your requirement.
| You may also like to Read: Deduction under Section 80D for AY 2016-17 |
Disclaimer : *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Written By: PolicyBazaar - Updated: 11 June 2020
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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