Health Insurance for People Aged Above 70 Years? Yes, Possible!
Published On Jan 30, 2020 5:30 AM By Sakshi Aggarwal
Treating older people with respect and dignity is common grace and gesture. The walking stick they use is not a symbol of their weakness, but a symbol that they can walk independently.
Senior citizens feel happier, calmer, and more balanced during the age of 70-80 years than they did earlier in their lives. Their emotional changes tend to be positive.
Don’t you think after years of putting in hard work, they actually deserve to sit back, relax, and experience the coming years unfold peacefully?
Given that insurance companies have brought health insurance plans for senior citizens in India. These plans come as a solution for them to enjoy a healthy lifestyle.
About Senior Citizen Health Insurance Plans
Senior citizen health insurance plans are designed to offer financial aid for medical treatments to individuals over 60 years. Many offer benefits like critical illnesses coverage, cashless hospitalisation, the high sum insured limit, and pre-existing diseases coverage.
But the question is until when? Are these policies renewable for a lifetime?
Yes, they are.
All health insurance plans offer lifetime renewability benefit so that the policyholders can continue to enjoy the coverage features throughout their lives.
Common Features of Senior Citizen Health Insurance Plan
Highlighted below are some of the common features offered in every senior citizen health insurance plan in India:
- Coverage for Cashless hospitalisation is provided.
- Coverage for hospitalisation expenses including room rent charges, consultation charges, and other medical bills.
- Day care expenses are also covered that arise because of technological advancement.
- A hassle-free and quick claim settlement process.
- Coverage offered for ambulance expenses, for shifting the hospital from home to a nearby hospital.
- A high sum insured cover is offered under these plans.
- Some insurance companies do not demand a pre-policy medical check up prior to buying the health insurance plan.
- Coverage offered for pre-existing illness depending upon the respective insurance company.
Top Senior Citizen Health Insurance Plans
This article gives you a quick run-down through the best senior citizen health insurance plans in India 2020.
1. Star Health Red Carpet Health Insurance Plan
Senior citizens aged up to 75 years can be covered under this plan. Major features of the plan are listed below-
- No requirement of pre-insurance medical screening
- Age range to buy this policy is between 60 and 75 years
- Coverage is available for outpatient medical consultation
- Sum insured starts from Rs. 1 Lakh and goes up to Rs. 25 Lakh
- Easy process for renewing the policy until the lifetime
- Ambulance charges up to a specific limit mentioned in the policy wording
- Coverage for 30-days pre hospitalisation expenses
- Post-hospitalisation coverage up to Rs. 10,000 (depending on the sum insured)
- Coverage available for all day care procedures
- A waiting period of 2 years for pre-existing diseases
- In-patient hospitalisation like room rent, doctor's fee, ICU charges, nursing costs.
2. TATA AIG MediSenior Health Insurance Plan
MediSenior health insurance plan offers senior citizens a peaceful life in their retirement years. Important features of this plan are given below-
- The minimum and maximum sum insured is Rs. 2 Lakh and Rs. 3 Lakh
- Minimum age to buy this plan is 61years; no restriction on maximum age
- Coverage for in-patient hospitalisation, including room rent, boarding, nursing, doctor's fee
- Cover available for 105 daycare treatments ((treatment that requires less than 24 hours of treatment)
- Domiciliary treatments, organ donor cover and emergency ambulance expenses
- A premium discount of 5% on policy renewal in case no claims are made under the policy year
- Other discounts under the plan include family discount and discount on paying the premium in advance for 2 years
- Cover for pre and post-hospitalisation expenses for 30 days and 60 days respectively
3. Universal Sompo Senior Citizen Health Insurance Policy
Senior Citizen Health Insurance Policy is a perfect product for people looking for maximum benefits and yet at a low premium. Following are the main features of the plan-
- People with a minimum age of 60 years can buy this product for self and spouse as well
- Sum insured options under this policy are Rs. 1 Lakh, Rs. 2 Lakh, Rs. 3 Lakh, Rs. 4 Lakh, and Rs. 5 Lakh
- Cover for daycare procedures (treatment that requires less than 24 hours of treatment)
- Health check-up covered for every block of 3 claim-free years
- Pre and post-hospitalisation expenses covered for up to 30 and 60 days respectively
- Cover for emergency ambulance and domiciliary hospitalisation expenses
- Optional cover is available for critical illnesses. You can choose it by paying an additional premium
- 5% of the cumulative bonus is offered on claim free years and continuous renewal of the policy
- AYUSH (Ayurvedic, Yoga and Naturopathy, Unani, Siddha and Homeopathy) treatment for up to 25% of the sum insured
4. New India Senior Citizen Mediclaim Policy
Senior Citizen Mediclaim Policy from New India offers coverage to senior citizens for any surgery, accidental injury, or any treatment. It is a trusted plan for many senior citizens. Let us have a look at the features of this plan.
- The minimum and maximum entry age for this plan is 60 years and 80 years respectively
- Sum insured options under this plan are of Rs. 1 Lakh and Rs. 1.5 Lakh
- Pre and post hospitalisation expenses covered for up to 30 and 60 days respectively
- Cover for organ donor expenses is offered
- Cover for daycare treatment expenses (treatment that requires less than 24 hours of treatment)
- Domiciliary hospitalisation (home-based treatment because of lack of accommodation at the hospital or severe health condition)
- Policyholders can enjoy family discounts if the plan includes other family members too
Things to Remember while Purchasing Health Insurance Cover for Senior Citizens
Highlighted below are some of the important things to keep in mind at the time of buying a senior citizen health insurance plan:
- Choosing the Right Insurance Plan
While choosing the right health insurance plan for a senior citizen, there are several factors that must be taken into consideration. Before deciding on a particular insurance plan, it is significant to make a comparison of various health insurance plans available in the market and offered by different health insurance companies. These factors include coverage, inclusion, exclusion, etc.
- Medical History
While purchasing a health insurance plan for a senior citizen, it is advisable to go for a health check up in order to become aware of various ailments or healthcare conditions that one may be suffering from. At the time of signing the policy document, it is important to reveal all the current health conditions. Therefore, it is important to go through medical history before buying a plan.
- Filling Proposal Form
After selecting the right health insurance plan for yourself, you are required to fill the health insurance proposal form. While filling the proposal form, it is extremely important to provide correct and updated details while filling the proposal form. This is because at the time of registering a claim, if incorrect information is given by the policyholder, then the insurance company upon finding the truth can reject the application.
- Healthcare Check-up
After the submission of the proposal form, a doctor appointed by the health insurance company will check and verify the information by conducting an interview in order to know the truth of health conditions mentioned on the proposal form. Next in line, is the health care check-up, wherein the doctor will arrange for 11-13 based upon the health conditions of the concerned person. Some of the medical tests that are conducted include urine routine, lipid profile, blood routine, kidney function test, sugar, liver function test, PSA (for males), serum creatinine, sonography (for females), are amongst the other conducted tests.
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Senior Citizen Health Insurance- All you need to Know
Senior citizen health insurance plans cover health care expenses incurred by senior citizens. The policy lets older people live comfortably in their golden age.
If you’re searching for a suitable health insurance plan for senior citizens, give a call to InsuranceDekho at 1800-1205-698. Our experts will help you choose the best senior citizen health insurance policy.