senior Citizen health insurance

Best Health Insurance Plans for Senior Citizens above age 55 India

Health Insurance Insurance

Health insurance is a basic step to security one should have, especially given the repeated lockdowns in the Coronavirus scenario. You may not even be a victim of the COVID-19 virus, but something as small as the common cold will drain your pockets. After all, almost all of the medical resources are focused on controlling the pandemic. Sadly, the ones who suffer the brunt of this situation are the senior citizens of our society. For an elderly couple or person living alone and without a health insurance plan, a minor inconvenience in health can prove to be fatal in the financial context. From hospitalization to ambulance costs, maintaining the finances will be extremely tough. Thus, the only way to smoothen the economics while the patient recovers in peace is a health insurance plan.

Would you like to secure the future of your grandparents? Are you looking for appropriate health insurance for parents? Here are some of the most pertinent plans in the market today:

Insurance Plan Age Criteria
Bajaj Allianz – Silver Health Plan for the elderly as well as senior citizen 46 – 80 years
Aditya Birla Activ Care Senior Citizen Health Insurance 55 – 80 years
New India Assurance Senior Citizen Mediclaim Policy 60 – 80 years

(renewable up to 90)

National Insurance – VARISTHA Mediclaim Policy

for the elderly as well as senior citizen

60 – 80 years

(renewable up to 90)

Oriental – Senior Citizen HOPE Health Insurance 60 years to no fixed age
Star Health – Red Carpet or Senior Citizen Red Carpet

Health Insurance Plan

60 – 75 years
United India – Senior Citizen Mediclaim Policy 61 – 80 years

1.  Bajaj Allianz –Senior Citizens Silver Health Plan

Bajaj Allianz is not an unknown name when it comes to insurance plans. They are quite well known for being customer-oriented. The Silver Health Plan happens to be one of their schemes that focuses on senior citizens. It offers benefits by way of compensating hospitalization expenses and ambulance charges for emergencies among others. The only limitations are the long waiting periods and the exclusion of specific diseases such as piles, cataracts, and hysterectomy from immediate payment.

Coverage features and benefits:

  1. All expenses regarding the patient’s hospital stay are entirely covered.
  2. Necessary charges related to pre as well as post-hospital stays are covered in this plan.
  3. Ambulance charges in case of an emergency are covered in this plan. However, there is a limit, that requires the claim of staying within Rs. 1000.
  4. The plan covers health treatments from home as well.
  5. An added bonus that goes up to 5 percent is permitted to the insurance limit on a yearly basis. And the best part is that this bonus is absolutely claim-free!
  6. There is a 5 percent of discount for all family members.

Limitations of the plan:

  1. In case of opting for treatment from a hospital that does not fall in their direct network, you will be required to make an additional payment of up to 20 percent.
  2. A fresh applicant will be required to go through a medicinal screening test before the insurance is approved. The charges for this test will initially have to be paid by the proposer himself. However, once the policy is approved, the charges will be reimbursed in the plan.
  3. In case of any joint–replacement surgery that is not directly related to an accident, you will be required to wait for a period of up to 4 years.
  4. Treatment charges for diseases such as hernia, piles, cataracts, benign prostatic, hypertrophy, and hysterectomy can take up to a period of 1 year to get approved.
  5. For any kind of coverage to be provided by this plan, the policyholder first has to wait through an initial period of waiting that extends up to 30 days.
  6. The plan will approve the coverage of each and every already existing disease of the policyholder only at the end of an initial period of waiting that extends up to 2 years.

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2.  Aditya Birla Activ Care Senior Citizen Health Insurance

If you were on the lookout for a perfect insurance plan for the elderly, look no further. Being eligible for a minimum age of 55 years to a maximum of 80, the Aditya Birla Activ Care Senior Citizen Health Insurance is most suitable when it comes to senior citizens. The best part of it is that not only does the coverage amount range from Rs. 3 lakhs to 25 lakhs but you also get post-hospitalization coverage over ventilators, oxygen cylinders, and other types of equipment. The only factor in it you can complain about is how already existing  diseases cannot be covered before waiting for 2 years.

Coverage features and benefits:

  1. Covers the charges of both international as well as domestic air ambulance emergency cases.
  2. This plan covers all expenses of the patient’s treatment and therapy, including Ayurveda, Unani, Siddha, Naturopathy, Homeopathy, and even Yoga.
  3. The plan holder will be able to enjoy the benefits from the care and treatment processes for up to a period of 586 days.
  4. Even expenses involved in the post-hospitalization treatment procedures from home are covered by this plan, such as ventilators and oxygen cylinders.
  5. This plan covers all expenses of medical equipment as well as in-home nursing requirements during the post-hospitalization period.
  6. This insurance plan is approved for the elderly as well as senior citizen with a minimum age of 55 years, and for a maximum age of 80 years. This age period makes this plan just the ideal one for the elderly as well as senior citizen.
  7. The expense covering the range of this plan is from 3 lakh up to a maximum of 25 lakhs.

Limitations of the plan:

  1. The plan will approve the coverage of each and everyalready existing disease of the policyholder only at the end of an initial period of waiting that extends up to 2 years.
  2. A co-payment of up to 20 percent is applicable to the Senior Citizen health plan by Aditya Birla.

3.  New India Assurance Senior Citizen Mediclaim Policy

The Senior Citizen Mediclaim Policy under the New India Assurance flag is known for offering standard coverage at a significantly low premium, probably among the lowest in the market. It includes coverage of not only the hospitalization expenses resulting from an injury or illness and charges incurred by availing an ambulance but also pre and post-hospitalization finances for up to 30 or 60 days. A bonus would be the limited coverage of hospitalization in registered Homeopathic or Ayurvedic hospitals or simply government hospitals. The only limitations come in the form of a waiting period (since already existing  diseases cannot be covered before one and a half years had passed since the policy inception) and the need to purchase extra premiums for already existing  conditions like diabetes mellitus and hypertension. All in all, this plan is perfect if your goal is health insurance for parents.

Coverage features and benefits:

  1. Under the 80Dsection, tax-related benefits are available in this plan.
  2. In case of availing treatments from connected hospitals, the insured can get the benefit of cashless treatment options.
  3. This plan covers all expenses of the patient’s treatment and therapy, including Ayurveda and Homeopathy.
  4. The insurance plan covers treatment for mental illnesses and HIV as well.
  5. The plan covers the expenses of organ donors as well.
  6. Ambulance charges in case of an emergency are covered in this plan.
  7. The policy covers the expenses of injections, charges of anesthetists, room expenses, transfusion, physician, and surgeons.

Limitations of the plan:

  1. The plan will approve the coverage of each and every already existing disease of the policyholder only at the end of an initial period of waiting that extends up to 1 year.

4. National Insurance –Senior Citizens VARISTHA Mediclaim Policy

If you filter your insurance plans by brand, the National Insurance is bound to stand out. Being one of the very oldest and considerably biggest players in the health insurance sector, even competitors know to respect their presence. Among their many innovative plans lie the VARISTHA Mediclaim Policy that is convenient for the elderly as well as a senior citizens. Being a company that values trust over anything else, the list of benefits is quite long. Aside from covering critical illness, pre, and post-hospitalization finances, organ donor finances, or domiciliary hospitalization, it also covers ICU, boarding, surgeon’s fees, nursing expenses, expenses over drugs, anesthetist’s fees, diagnostic tests, and consultant’s fees.

Coverage features and benefits:

  1. One can get reimbursement for health check-up once every 3 years.
  2. The total insurance sum amount increases by 5 percent for each year that goes without a claim.
  3. The insurance covers already existing diseases like diabetes and hypertension from the time of the inception of the policy. The plan holder only has to buy an additional premium plan with an extra 10 percent.
  4. The plan covers the expenses of organ donors as well.
  5. The plan optionally covers the expenses of critical illnesses.
  6. The plan covers the expenses of in-home treatments.
  7. Necessary charges related to pre as well as post-hospital stays are covered in this plan.

Limitations of the plan:

  1. A fresh applicant will be required to go through a pre-medical screening test before the insurance is approved. The charges for this test will initially have to be paid by the proposer himself.
  2. In case of the renewal of the policy at every period that extends from 85 years up to a period extending up to a period extending up to a 90 years, an additional loading charge of up to 20 percent is applicable.
  3. A co – payment that goes up to 10 percent is applicable on each claim. And in the case of a already existing disease, an additional sum of 10 percent has to be made by the person who is insured.
  4. For applicants between the age of 76 to 80 years, an additional loading charge of up to 10 percent has to be made till the age of 85 years.
  5. The plan will approve the coverage of each and everyalready existing disease of the policyholder only at the end of an initial period of waiting that extends up to 1 year.
  6. For any kind of coverage to be provided by this plan, the policyholder first has to wait through an initial period of waiting that extends up to 30 days.In the case of critical diseases, this period of waiting can range up to 60 days.

5.  Oriental – Senior Citizen HOPE Health Insurance

It is not uncommon for us to feel we are indebted to our parents. In such cases, we experience the urge to give back to them even a small percentage of the time and money they invested in us. One of the easiest and respectful ways to go about it is to purchase health insurance for parents. The HOPE plan of Health Insurance pertains to anyone above the age of 60 without any age limit to acquiring it. Aside from the usual coverage of hospital expenses, it also covers cardiovascular diseases, accidental injury, chronic renal failure, knee replacement, chronic obstructive lung diseases, cancer, stroke, hepato-biliary disorders, orthopedic ailments, benign prostate, and ophthalmic diseases.

Coverage features and benefits:

  1. Ambulance charges in case of an emergency are covered in this plan.
  2. The policy covers the expenses of ICU units, chemotherapy, radiotherapy, and dialysis.
  3. The policy covers all the expenses of injections, charges of anesthetists, transfusion, physician, and surgeons as well.
  4. The insured sum ranges through an amount of Rs. 1 lakh up to an amount of Rs. 5 lakhs. The applicant can easily select a plan according to their needs.

Limitations of the plan:

  1. The plan will approve the coverage of each and every already existing disease of the policyholder only at the end of an initial period of waiting that extends up to2 years.

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

Being one of the very oldest in the market when it comes to health insurance policies fine-tuned for the elderly as well as senior citizen, Star Health was also among the first who increased the maximum age cap from 69 to 75 years of age. The Red Carpet or Senior Citizen Red Carpet

Health Insurance Plan is more than a viable option to support the elderly. In addition to the coverage of domiciliary treatment and daycare procedures, pre and post-hospitalization finances, treatment of a already existing  disease, and overall hospitalization expenses, it also requires no medical screening.

Coverage features and benefits:

  1. This plan does not require the applicant to go through a medical screening.
  2. The plan covers the charges for domiciliary treatments as well as daycare procedures.
  3. The expenses for both pre, as well as post-hospitalization procedures, are covered in this insurance policy.
  4. Ambulance charges in case of an emergency are covered in this plan.
  5. The policy covers the inpatient hospitalization expenses as well, such as injections, charges of anesthetists, room expenses, transfusion, physician, and surgeons.
  6. The insurance covers already existing diseases like diabetes and hypertension from the time of the inception of the policy.

Limitations of the plan:

  1. For any kind of coverage to be provided by this plan, the policyholder first has to wait through a waiting period that will extend up to 30 days.
  2. The plan will approve the coverage of each and every disease such as cataract and knee replacement surgery only at the end of an initial period of waiting that extends up to 2 years.
  3. Treatment charges for diseases such as hernias and piles can take to a period of waiting for up to 1 year to get approved.
  4. In the case of making a claim for already existing diseases, the applicant has to make an additional co-payment of 50 percent.
  5. An additional co-payment of 30 percent has to be made in case of all other claims.

7.      United India – Senior Citizen Mediclaim Policy

Want to surprise your parents? What better than to gift them with an insurance plan? Health insurance for parents is a must especially if you cannot take long enough breaks from work. The Senior Citizen Mediclaim Policy under United Indiacovers not only necessary medical expenses but also both Ayush and allopathic treatments. The only drawback to it is that two years need to pass before it can cover already existing illnesses.

Coverage features and benefits:

  1. The policy covers the expenses of drugs, anesthesia, medicines, hospitalization, and blood.
  2. The expenses of anesthetists, physicians, and surgeons is covered through this plan as well.
  3. The insured sum ranges from ₹ 1 lakhs, extending up to an amount of Rs. 3 lakhs. The applicant can easily select a plan according to their needs.

Limitations of the plan:

  1. The plan will approve the  coverage of any already existing disease of the policyholder only after the end of a waiting period that extends up to2 years.

Now that you have the basics of the most popular insurance plans for the elderly as well as senior citizen, ensure the wellbeing of your parents or elderly loved one, keeping in mind your budget as well.

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