Senior Citizen Health Insurance

Senior Citizen Health Insurance Plans

There are many Indian insurers like Star Health, TATA AIG, ICICI, HDFC ERGO, etc. offer best-selling senior citizen health insurance plans with loaded features and benefits. Here are some of the best health insurance plans that cover senior citizens.

Senior Citizen Plans	Entry Age	Pre- Medical Check-up	OPD and Daycare Coverage	Sum Insured (Rs.)
Star Senior Citizen Red Carpet	60 - 75 Years	No	All Day Care Treatments	1 to 25 L (Rs. 20,315)
Care Senior Plan	61 Years - Lifelong	No	540 Day Care Treatments	3 to 10 L
ManipalCigna Prime Senior	56 - 75 Years	No mandatory check-up	Covered up to the sum insured	3 to 50 L (Rs 18,983)
Niva Bupa Senior First	61 - 75 Years	No mandatory check-up	Covered up to the sum insured	5 to 25 L (Rs 13,909)
Aditya Birla Activ Health Platinum Essential	60 Years - Lifelong	Depends on medical history	586 Daycare Treatments	5 L to Depending on the Age
Aditya Birla Activ Care	55 - 80 Years	Yes	586 daycare procedures covered 586 Daycare Treatments	3 to 25 L (Rs 24,202)
Bajaj Allianz Silver Health Plan	46 - 80 Years	Yes (Mandatory)	Covered	1 to 10 L
Cholamandalam Flexi Supreme	18 - 75 years	Yes	Covered	5 L to 5 Cr
Future Generali Varishta Bima	60 Years - Lifelong	Yes for SI 7.5 and 10 L	Covered	2 to 10 L
HDFC Ergo My:Health Suraksha Silver Smart	18 Years - Lifelong	Not Mandatory	Covered	3 to 50 L
Magma One Health Insurance Policy	18 Years - No upper age limit	Not Mandatory	Covered	2 L to 3 Cr
National Senior Citizen Mediclaim Policy	65 Years - No upper age limit	Required	Covered	1 to 10 L
Oriental (Health Of Privileged Elders) Plan	60 Years - No upper age limit	N/A	Not Covered	1 to 5 L
TATA AIG Eldercare	61 - 85 Years	Required	Covered	5 to 25 L
United India Senior Citizen Health Plan	61 - 80 Years	N/A	Covered	1 to 3 L
Universal Sompo Senior Citizen Health Plan	60 - 70 Years	N/A	Covered	1 to 5 L
New India Assurance Sixty Plus Mediclaim Policy	60 - 80 Years	Required	Covered	2 to 5 L

Why Is Mediclaim Necessary For Senior Citizens?

Besides private senior citizen health insurance in India, government health insurance schemes are also available. One such scheme is the Ayushman Bharat Yojana.

• You will get age eligibility as these plans are available for people above 60 to 65 years old.
• Some senior citizens' health insurance plans offer regular health checkups, which can be an important part of monitoring their health.
• Specialised senior citizens health insurance plans like Star Health Red Carpet health insurance policy cover pre-existing diseases.
• Health insurance plans come with a co-payment clause, in which the policyholder has to share a portion of the medical expense.

Health Insurance Senior Citizens' Eligibility

From the above section, you will know that there are a number of health insurance plans available for senior citizens. Let us take a quick peek at the eligibility criteria you must fulfil to purchase health insurance plans for senior citizens:

Best Senior Citizens' Health Insurance Plans Benefits

Investing in the best health insurance plans for senior citizens is a pathway for a smooth second innings of life. Here are some of the key benefits you can expect with the best senior citizen health insurance in India:

1. Comprehensive Coverage for the Elderly

   Specifically designed for individuals above 60 years of age, senior citizen health insurance plans offer comprehensive coverage against high medical bills.

2. Relaxation in waiting periods

   While waiting periods vary according to the plans you opt for, many senior citizen health plans in India may have lesser waiting periods for PEDs like diabetes, hypertension, etc.

3. Regular Health Screenings

   We are all well aware of the importance of regular health check-ups after a certain age. The best senior citizen health insurance in India covers annual health check-ups helping you detect any serious ailments timely. You can also get a tax benefit of INR 5000 for senior citizens' annual health checkups!

4. Lifetime Renewability

   Many senior citizen health insurance plans offer lifetime renewability ensuring your life-long well-being.

5. Secure Your Retirement Funds

   Investing in a senior citizen health insurance plan in your retirement years will secure your life savings for future needs instead of drowning them in expensive hospital bills.

6. Critical Illness Coverage

   Being diagnosed with life-threatening diseases can be nerve-wracking both mentally and financially. Let India's best senior citizen health insurance take care of the financial stress while you focus on recovery.

7. Cashless medical care

   There are so many medical services that you can avail in a cashless way. Mostly, it is possible at the network hospital. Major insurers today have a wide range of network hospitals across India for policyholders’ convenience.

8. Senior citizen's health insurance plans tax benefits

   As per the Income Tax Act, of 1961 under section 80D you are eligible for tax deductions

   • Up to INR 50,000 if you are above 60 years covered under a senior citizen health plan
   • Up to INR 5,000 for payments paid towards preventive health check-ups
   • Up to an additional INR 25,000 if you are an earning individual (Above 60 years) and are paying health insurance premiums for your dependent parents.

   This means at the end of the financial year you are eligible for tax deductions up to INR 75,000 against the premiums you pay for senior citizens' health insurance policy.

Key Features Of The Best Health Insurance For Senior Citizens

Let us talk about the best senior citizen health insurance plans and why they are best.

1. ManipalCigna Prime Senior

   ManipalCigna Prime Senior is one of the best senior citizen health plans, it is available in 2 variants - Classic & Elite. The sum insured ranges between 3 to 50 Lakhs along with offering multiple value-added benefits, like 'Premium Waiver Benefit', 'Discount on Pharmacy, Diagnostics', and more.

   Why We Recommend It?

   • Restore your sum insured multiple times when in need
   • Reduced waiting period from 2 years to 90 days
   • Exciting discounts

2. Niva Bupa Senior First

   With features like Health Check-ups from Day 1 & unlimited base sum insured for long-term treatments, Niva Bupa Senior First is a versatile plan. The plan is available in 2 variants, namely Gold and Platinum.

   Why We Recommend It?

   • Reassure your benefits for long-term treatments and multiple illnesses
   • Covers cataract
   • Annual health check-up

3. Care Senior

   A comprehensive health plan designed to cater to senior citizens with no pre-policy medical check-ups. Care Senior plan offers multiple discounts and coverage for more than 540 daycare procedures.

   Why We Recommend It?

   • Higher sum insured for up to 10 L
   • No pre-policy medical check-up is required
   • Optional benefit to reduce your waiting period

4. Star Senior Citizen Red Carpet Health Policy

   Designed for the elderly, the Senior Citizen Red Carpet Health Policy is among the best senior citizen health plans.

   Why We Recommend It?

   • Flexible premium paying options
   • Preventive health check-ups included
   • Lifetime renewability

5. TATA AIG ElderCare

   TATA AIG ElderCare is designed to cover the elderly in their golden years. Live a stress-free life as the plan takes on all your medical care expenses.

   Why We Recommend It?

   • Benefits of up to 10 physiotherapy sessions
   • Wellness benefits like teleconsultation, diet, and health supplements are included
   • Covers OPD

6. Aditya Birla Activ Care

   Enrol yourself in this unique senior citizen health plan from the age of 55 years. Aditya Birla Activ Care is an efficient health plan with a long list of exclusive features.

   Why We Recommend It?

   • International evacuation is covered
   • The plan helps you to stay healthy
   • Lifestyle support equipment facility is covered

7. HDFC Ergo my:health Suraksha Silver Smart

   HDFC Ergo My:Health Suraksha Silver Smart is a 360-degree senior citizen health plan to take care of you during your retirement years. It is loaded with multiple features and a wide range of sum insured options between 3 to 50 Lakhs.

   Why We Recommend It?

   • Domiciliary hospitalisation covered
   • No-claim bonus of up to 50%
   • Maintain good health for the year and get a heavy discount at renewal

8. New India Assurance Sixty Plus Mediclaim Policy

   New India Sixty Plus Mediclaim Policy is a unique senior citizen health insurance plan designed by New India Assurance with multiple features covering age-related health issues and disorders.

   Why We Recommend It?

   • Genetic diseases covered
   • Menopause and related issues covered
   • Problems like age-related macular degeneration are covered

9. National Senior Citizen Mediclaim Policy

   National Senior Citizen Mediclaim Policy is a simple and easy health insurance for senior citizens with affordable premium prices. The plan offers coverage for AYUSH treatments, hospitalization expenses, domiciliary hospitalization, and more.

   Why We Recommend It?

   • Mental illness covered
   • Coverage for personal accident
   • PED covered

Do You Need Separate Senior Citizen Health Insurance?

The question is absolutely valid because many family health insurance plans and group health insurance cover senior citizens. But, yes you do need a separate health insurance plan for senior citizens in your house. Let me answer that for you with valid reasons to make decision-making easier and more efficient for you.

While a regular health plan will cover your parents (above 60 years), the sum insured may be insufficient in case of major illness or prolonged hospitalization of senior citizens.

Health insurance premiums are expensive for regular health plans as premiums to be paid are calculated based on the eldest member of the family. Instead, if your parents are above 60 years (above 55 years in some cases), buying a separate senior citizen health plan is always advised to give them comprehensive coverage.

General Exclusions Of Health Insurance For Parents

Waiting Period For Health Insurance Plans For Senior Citizens