Senior Citizen Health Insurance Securing Senior Care, Securing Life
With age, senior citizens are likely to develop health issues and we understand the emotional and financial toll sudden hospitalisations can take on both you and your loved ones. That’s where senior citizen policies step in, offering invaluable support to ease the burden.
Medical insurance for senior citizens is tailored to ease the financial responsibility of recurring healthcare expenses. These insurance policies are specifically crafted for individuals aged 60 and above, addressing their unique healthcare requirements. Medical Insurance for senior citizens is not just an option, it’s a necessity to ensure one can have access to the best healthcare services without worrying about the costs.
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What is Senior Citizen Health Insurance?
Senior Citizen Health Insurance policies are designed to cover individuals aged 60 and above. Tailored to alleviate the financial and physical stress associated with illness or hospitalization, these plans offer financial assistance for medical treatments. They can be obtained either individually or as family floaters, providing benefits like coverage for in-patient hospitalization, no pre-screening, and pre/post-hospitalization.
Need and Importance of Senior Citizen Health Insurance
Senior Citizen Health Insurance becomes crucial for individuals aged 60 and above, offering a safety net during times of illness or hospitalization. It serves as a financial cushion, easing the burden of medical expenses. This insurance is especially valuable as it covers hospitalization costs, offers cashless treatment, and comes with lifelong renewability. Senior citizens are more susceptible to illnesses, making hospitalization emotionally and financially challenging. Here are key reasons emphasizing the need for senior citizen health insurance. Below is the importance of Super Top plans:
Coverage for Critical Illness
Critical illness coverage is of paramount importance for senior citizens. Critical illnesses such as cancer, stroke, heart disease, and kidney failure can significantly impact the financial well-being of individuals and their families as their treatment is very expensive. Senior citizen plan provides this financial security against the expensive treatment
Increasing Healthcare Needs of Senior Citizens
As individuals grow older, their healthcare needs tend to increase. The ageing process brings various health challenges and a higher likelihood of chronic conditions; hence it is very important to get a insurance plan for your future medical emergencies without any stress.
Increasing Medical Inflation
With the increase in technology, medical costs have increased too. With such skyrocketing costs in the medical field, it is good to have a health insurance policy that will help you at the time of medical emergencies.
Free Cost of Annual Health Check-up
Annual health check-ups are a benefit provided under several health insurance plans where free medical check-up is done. The medical check-up helps to evaluate current medical condition every year and check the risk of contracting a disease. It conducts complete body analysis that includes heart health, organ health, metabolism rate, etc. All the test can be done in free
Peace of Mind
As there is no fixed source of income after retirement, the income becomes limited or unstable. After the age of 60, it is important for Senior citizens or retired citizens to have a good health insurance plan so that they wouldn't need to face any financial crisis
Termination of Employer
Sponsored health insurance after retirement- Companies provide health insurance to their employees nowadays. Most people don't buy their own health insurance for the same reason. But after retirement, these policies are not renewed by your employer, so it is always best to keep at hand your own health insurance.
Eligibility Criteria to Buy a Senior Citizen Health Plan
Senior citizens health insurance is a is a plan that allows you to relax and enjoy your second inning of life. The following are the specification and requirements:
| Eligibility Criteria | Specifications |
|---|---|
| Minimum Entry Age | 60 years and above |
| Maximum Entry Age | 75 years/No age limit in some plans |
| Family Members Covered | Self, Spouse |
| Renewability | Lifelong renewability as per plan you choose |
Key Benefits of Senior Citizen Health Plan
Senior citizen health insurance plan as an investment brings peace of mind to seniors and their families, ensuring comprehensive support during health challenges. Know what are exclusive benefits that can be availed.
Comprehensive Coverage Benefits
The policy ensures extensive protection for the elderly, facilitating advanced medical treatment without financial concerns.
Cashless Hospitalization
Senior citizens can avail of cashless treatment in the network hospitals of the health insurance company. simplifying the medical care process.
No Pre-Medical Screening Test
Many plans do not require a pre-medical exam for individuals over 60, eliminating a potential barrier to obtaining coverage.
Lifelong Renewability
Most plans offer lifelong renewability, ensuring continuous health coverage without age restrictions.
No Co-Payment
Co-pay in health insurance means co-payment which means cost sharing. Many health insurance companies impose a co-pay clause under their senior citizen health insurance plans. But there are many plans in which 100% expenses are taken care by the insurance company
Tax Benefits
Get Tax Benefit upto Rs 75,000 in a financial year on the Premiums paid under Section 80D, providing additional financial relief.
Our Preferred Plans
Best Health Insurance for Senior Citizens in India Finding the best health insurance for senior citizens can be a very stressful for any individual as there are many health plans available in the market from various health insurance companies. To make it easier for you, we BimaSure have compiled the list of best senior citizen health insurance plans along with its key features in the table below:
Care Senior
- Advantage with Care Health
- 22900+ cashless hospital
- 38+ lakhs claims settled
- 24*7 claims and customer support
Coverage Benefits
- No pre policy Medical Check up
- Annual check up
- 540+ Day care covered
- No Room Rent Limit
- Unlimited Restoration of cover
Senior First
- Advantage with Niva Bupa
- 10000+ cashless hospital
- 1 crore+ happy customers
- 24*7 dedicated relationship manager
- 30 min claim processing
Coverage Benefits
- No pre policy Medical Check up
- Annual check up
- Day care covered
- No Room Rent Limit
- No sub-limits on common health condition
Optima Secure
- Advantage with HDFC ERGO
- 12000+ Cashless Healthcare Network
- 5 Crore+ Happy Customers
- 1 claim processed every minute
Coverage Benefits
- 4X Coverage
- Secure Benefit: Get 2X coverage from Day 1.
- Restore Benefit: 100% Restore on your base Coverage
- Preventive Health Check-up
- Mental Healthcare also covered
Active Care plan
- Advantage with Aditya Birla
- 11,000+ Hospital Network
- Seamless Hospitalization Benefits
- 2.5 Cr+ lives insured
Coverage Benefits
- Modern treatment coverage
- 586 Day Care procedures covered
- Health returns Benefits for staying healthy
- Annual check up
- Daily Cash Benefit
Senior Citizen Red Carpet
- Advantage with Star Health
- 14000+ Cashless Healthcare Network
- 16 Crore Happy Customers
- 24*7 customer service
Coverage Benefits
- No pre policy Medical Check up
- Pre-existing diseases (PED) are covered after a one-year waiting period
- Annual check up
- Day Care procedures covered
- Domiciliary Hospitalization
Inclusion and Exclusion in Senior Citizen Health Plan
Senior Citizen Health Insurance, while offering crucial coverage, comes with certain inclusions and exclusions. Know the details as listed below.
Coverage After Waiting Period
The waiting period for pre-existing diseases should be considered when choosing a senior citizen health insurance plan. Opt for a plan with a minimal waiting period to ensure timely coverage for existing health conditions.
| Waiting Period | Duration |
|---|---|
| Specially designed plan that covers pre existing medical condtions like asthama, blood bressure cholesterol, diabetes | After 30 days |
| Pre-existing period | 2-4 years |
| Initial waiting period | 30 days |
| Specific disease waiting period | 1-2 years |
| Covid-19 treatment | 30 days |
| Grace period | 30 days |
| Free-look period | 15 days |
FAQ's
Benefit from coverage after specific waiting periods:
A senior citizen health plan takes care of the healthcare needs of the elderly. As one grows older, buying a decent health insurance plan becomes difficult as one is vulnerable to several diseases. This plan provides you with financial support, but you must pay a higher premium for this policy.
Health insurance for senior citizens mostly comes with mandatory pre-policy medical check-ups, limited coverage and an extensive list of exclusions. You must check these factors carefully before buying a plan. You should also look out for factors, such as entry/exit age, maximum renewal age, co-payment, domiciliary treatment, etc. while buying the policy.
The following documents are required to buy a mediclaim policy for senior citizens:
- Age proof
- Identity proof
- Address proof
- Income proof
- Duly filled proposal form
- Pre-insurance medical test reports(if applicable)
Cashless treatment is available at network hospitals. Check the list of network hospitals provided by your insurer.
This benefit restores the sum insured after it’s completely exhausted, either fully or up to a certain percentage, depending on the plan.
Pre-existing diseases usually have a waiting period. Choose a plan with a shorter waiting period for optimal coverage.
Not all plans have copayment clauses. It’s essential to check the policy terms to understand any copayment requirements.
Yes, in most cases, you must go through medical screening to buy a health insurance plan. As an older individual, insuring you is a risk for the insurance company, requiring you to go through medical tests.
If you are buying health insurance for parents, then you must look out for the entry and exit age, lifetime renewability option, copayment, and domiciliary treatment
Yes, you can transfer your senior citizen health insurance policy from one insurer to another within 45-15 days of policy expiry without losing the benefits you have accumulated during the policy’s tenure
Why Choose Us
At Bimasure, we go beyond being just an insurance buy and compare platform. Here's why thousands choose us for their individual health coverage needs.
Expert Guidance
Our team of insurance experts is here to guide you at every step, ensuring you understand your options and make the best choices for your individual health.
Simple and Secure Process
Experience a hassle-free journey from quote to coverage. Our secure platform makes acquiring affordable individual health insurance straightforward and stress-free.
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