Best Health Insurance For Senior Citizens: There is no one perfect insurance plan that fits the bill for everyone: be it life insurance or senior citizen insurance. It all depends on the requirements of the policyholder and other factors such as family history, personal history of disease, lifestyle, etc. However, it is true that the older one gets, the more imminent is the need for a reliable financial back-up in times of health crisis. This is the age when the body is slowly getting less functional and is more prone to diseases and disorders. To add to the physical stress, the mental burden of managing one’s medical expenses will definitely take a toll.
The senior citizen health insurance plan is specially designed for people aged above 60. They can be purchased by the life insured, or by the offspring of these senior citizens. The benefits of health insurance for senior citizens include higher sum insured, coverage of day care costs, annual health check-ups, hospitalisation cover (room rent, medical treatment, etc.), cashless hospitalisation, ambulance expenditure coverage, etc. An added perk is that no medical check-up is required before buying a senior health insurance; but this again depends on the insurance company’s policy.
If you’ve formed a basic notion as to what senior citizen insurance is about, here are some good plans to get you started on your search:
Best Health Insurance For Senior Citizens
1. Star Health Senior Citizen Red Carpet
This plan comes with a lifelong validity and offers a sum assured between one lakh and five lakh rupees.
The premium you are required to pay ranges from 4450 and 18000, excluding service tax.
It comes with a wide coverage, including in-patient hospitalisation expenses, domiciliary treatment, day care procedures, pre- and post-hospitalisation expenses, etc.
It covers pre-existing disease right from the first year, and does not demand medical screening prior to purchase.
It has the facility of cashless hospitalisation in 5400+ network hospitals across India.
Exclusions include naturopathy treatment, cosmetic surgery, diagnostic tests, etc.
The initial waiting period is 30 days, but for some specific diseases it varies from one to two years.
2. Bajaj Allianz Silver Health:
The maximum renewal age allowed is 75 years.
The coverage ranges from 50,000 rupees to 5 lakh rupees. The best part about this plan is that it is greatly flexible in terms of the sum assured.
The premium is between 1,995 and 29,039 rupees.
Its coverage includes pre, post, and in-patient hospitalisation expenses. Emergency ambulance charges within 1000 rupees per claim are covered.
Pre-existing diseases have a waiting period of a year, and there is a general waiting period of 30 days initially.
3. Oriental Insurance HOPE (Health of Privileged Elder)
With a lifelong validity, this plan offers a sum assured of one lakh to five lakh rupees.
The premium ranges from 4,500 to 29,000 rupees.
It offers a number of discounts, making it a popular choice. For instance, it provides discount in premium if you opt for voluntary co-payment. Every claim free year comes with a discount.
The company itself has a high incurred claim ratio, which speaks well about its popularity.
Its hospitalisation coverage includes room, boarding and nursing, ICU costs, doctors’ fees, equipment costs, treatment procedure costs, etc. Domiciliary expenses and ambulance charges are also covered.
You can take your pick from these plans or go further and research deeper into the topic to find one that suits you or your parents the best. Nonetheless, it is always advisable to purchase a plan as early as possible to avoid these hassles that come with old age.
So this were the Best Health Insurance For Senior Citizens in India. Hope you liked this article of Best Health Insurance For Senior Citizens.
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