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Best Senior Citizen Health Insurance Plans In The Market

Published On Aug 06, 2021, Updated On Aug 11, 2021

Health insurance plan is essential for every individual as it provides aid against high medical expenses incurred during hospitalization and ensures quality treatment at the private hospital. These days when the inflation is high in the health sector, it is difficult to pay for the hospitalization from the pocket as it can drastically drain your savings and leave you with nothing but debt. Some groups of people like the senior citizens need a separate health insurance plan and they should not be included in family floater plans or group health insurances. 

Insurance providers have rolled out specific health insurance policies for senior citizens as they need a unique set of features for meeting their requirements during hospitalization in case of an emergency. The premium for senior citizen health insurance plans is slightly higher than a standard health insurance cover as senior citizens are more vulnerable to contracting life-threatening diseases. You can research and compare senior citizen health insurance plans online and buy the one that is under your budget. 

Best Senior Citizen Health Insurance Plans In The Market

Perks of Buying A Senior Citizen Health Insurance Plan 

Following is the list of benefits that the policyholders can avail on their purchased senior citizen health insurance policy: 

  • The sum assured under senior citizen insurance covers is higher to provide a wide coverage to the policyholders. 
  • The insurance providers offer lifetime renewability of policy benefit to the customer to let them avail the benefits of their policy for a lifetime. 
  • Cashless claim benefits can be availed at the network hospital of the insurance company as it is a smooth, quick, and hassle-free claim settlement process. 
  • It provides comprehensive coverage which includes the medical expenses like ambulance charges, room rents, hospitalization costs, etc. 

Top Senior Citizen Health Insurance Plans In The Insurance Market

Let us look at some of the beneficial and top senior citizen health insurance plans that are available in the insurance market for the customers at an affordable price: 

1. Oriental Senior Citizens HOPE Health Insurance Cover

This cover is offered by Oriental Health insurance firm which is widely known for its high claim settlement ratio and quality services. It offers a wide coverage including surgeon fees, room rents, ICU charges, chemotherapy costs, nursing expenses, and a lot more. It has a compulsory co-payment of 20% on the admissible claim amount and comes with a waiting period of 2 years for pre-existing diseases. It also includes domiciliary expenses and AYUSH treatments for senior citizens.

2. New India Assurance Senior Citizen Mediclaim Policy

This senior citizen health insurance plan is known for its affordability as it offers the lowest premium in the market. The inclusions of this policy are 30 days of pre-hospitalization expenses, 60 days of post-hospitalization expenses, ambulance charges, room rents, AYUSH treatments, health checkups, and much more. For pre-existing diseases, the waiting period under the cover is 18 months and for standard coverage it is 30 days from the date of purchase of the policy cover. 

3. Kotak Health Care Plan 

This health insurance plan is suitable for customers of age 60 to 65 years as it comes with a lifetime renewability benefit on its policy for the policyholders. The assured sum of compensation under this plan ranges from Rs. 2 Lakh to Rs. 100 Lakh. There is no maximum age limit in this plan and it comes with convalescence benefits, donor expenses, critical illness cover option, daily cash allowances, etc. 

4. IFFCO Tokio Individual Medishield Plan

This health insurance covers individuals up to the age of 80 years and is therefore suitable for senior citizens. It offers pre and post hospitalization expenses along with the organ donor expenses, AYUSH treatments, etc. As an add-on around 10 critical illnesses can be covered under this policy with discounts of up to 10% for additional members insured under this cover. 

Conclusion 

You can research the various senior citizen health insurance plans that are offered by different health insurance providers. You must carefully go through the inclusions and exclusions of the health insurance policy to make sure your requirements are met by the insurer. 

Also Read: Discovering Care Senior Citizen Health Insurance Plan for your Parents

Benefits of Senior Citizen Health Insurance Plans
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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