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Best Mediclaim Policies for Senior Citizen

Jagrity Sharma Jagrity Sharma 19 July 2019

Find out all about the best mediclaim policies and health insurance for senior citizens on

As a senior citizen, it is important that you get the best medical care, when the time arises. Read on to know more about the Mediclaim policies that can help you avail this care!

Best Mediclaim Policies for Senior Citizen

With age come several diseases and problems which require expensive treatment and care. The older we get, the more mental and physical stress we tend to bear that leads to health deterioration. This is when a senior citizen health insurance plan is needed. A Health insurance or a mediclaim policy covers the medical expenses at an age when you have less energy and financial support. A senior citizen health insurance offers financial aid for people above 60 years of age and covers critical illness, existing diseases, hospitalization, etc.

Age also brings additional risks of falling sick due to low immunity and strength. Since life after 60 is way more challenging and an individual is not financially sound, a mediclaim policy is a great option as it takes care of any kind of urgent medical expenses.

What does a senior citizen health insurance cover?

Some of the important features of a senior citizen health insurance are:

  • Hospitalization
  • Accident related treatment
  • Existing diseases from day 1 or after a specified period
  • Day Care expenses
  • Ambulance charges
  • Fast and hassle-free settlement of the claim
  • Higher sum insured coverage

Some of the best health insurance plans for senior citizens are:

Bajaj Allianz- Silver Health Plan

  • It provides cashless facility in all the hospitals in its network.
  • It also allows free checkup after four years at Bajaj Allianz Diagnostic Centers.
  • It gives an extra 5% discount for the family and bonus which is cumulative at the rate of 5%.
  • Individuals upto 75 years of age are eligible for this plan after necessary medical tests.

New India Insurance – Senior Citizen Mediclaim policy

  • The age eligibility for this policy is 60-80 years and can continue up to 90 years, if renewed regularly.
  • It covers 30 days pre and 60 days post hospitalization charges for all illness and injuries treatment.
  • It also covers pre-existing diseases after the completion of 18 months

United India Insurance- Senior Citizen

  • This policy covers hospitalization, boarding expenses and nursing expenses up to 1% of the sum insured or expenses incurred, whichever is less.
  • This covers all the doctors, anaesthetists, surgeon charges and also the cost incurred for treatment like blood, oxygen, surgical appliances, operation theatre charges, x-rays, etc.
  • The plan also provides 30 days pre-hospitalization cover and cover for 60 days post hospitalization. Oriental Insurance- HOPE: Health of Privileged Elders
  • This policy provides hospital room, nursing expenses up to 1% of the sum insured and ambulance charges up to Rs 1000.
  • This covers all doctors, surgeons, specialists’ charges and cost of treatment equipment and surgical appliances, blood, oxygen cylinders, radiotherapy, and chemotherapy.
  • This policy also covers intensive care to a limit of 2% of the insured sum.

Religare – Care Freedom

  • This scheme offers lifelong renewability beginning from 18 years and no medical tests are necessary for claiming this medical insurance.
  • It also covers annual health checkup, cashless treatment and easy and quick settlement.
  • The sum assured is recharged automatically after the limit is exhausted after a claim. Points to remember before buying any health insurance for senior citizen

Listed below are a few important points that one needs to take care of before buying any senior citizen health insurance or mediclaim policy.

  • Medical History: It is important to know the medical history before buying any policy and relying on the senior citizen for that information is suggested. Health insurance companies require complete information about existing health ailments. Hence, it is very important to be thorough about the information you provide to the insurance company.
  • Selecting a plan : There are many things which decide the selection of a health insurance policy for senior citizens. It is important to compare different plans available in the market on the basis of cover, cost, inclusions and exclusions before zeroing in on one.
  • Filling the form : Once you have selected the plan that you want to buy, you will be needed to fill the proposal form. It is important that you fill complete and correct information. Filling incomplete or incorrect information will only cause trouble at the time of claiming the insurance policy. It might even lead to rejection of the claim.
  • Medical checkup: Once done with the proposal form, the insurance company will go through it and might conduct an interview if required to verify and check all the information provided by you. A medical checkup will also be conducted depending on the health condition of the person to be insured like blood, lipid profile, urine and sugar tests, liver-kidney functions, sonography( for women) and serum creatinine, PSA (for men), etc.

Advantages of having a medicliam policy or health insurance for a senior citizen

Having a health insurance plan for senior citizen helps in

  • Availing tax benefits towards medical insurance premium paid
  • Availing treatment and medical facilities across the nation
  • Cashless treatment and daily allowance
  • Free look period
  • Availing annual health checkups
  • Renewal of policy
  • Hospitalization cover

Things to remember while buying a senior citizen health insurance

If you are willing to buy health insurance for senior citizen or for yourself, then remember these points Choose a high sum insured policy

Always account for inflation and uncertainties while buying a policy. Always choose a policy which provides a high sum insured at same time keeping the depth of ones pocket in mind.

Compare various plans

The health insurance or the mediclaim should cover the individual needs of the insured person, for example, chemotherapy, dialysis, organ donation, etc. Check the various features like sub-limit on room rent, consultation charges, etc. of the various plans. This ensures that you don’t end up paying the bills from your pocket, even after having an insurance policy.

Note the waiting period

It is safe to consider a lower waiting period for pre-existing diseases, considering the age of senior citizen. It is more conducive this way. Select a plan which has a lower waiting period so that it can be availed when actually needed.

Co-payment option

Most of the insurance companies offer a co-payment option for senior citizen health insurance. This means that the policyholder will bear a part of medical expenses.

With a rise in health care costs, it has become very important to have an insurance policy which pays the high medical bills when needed. Senior citizens who do not have a stable and a regular income might not be able to afford expensive treatment and that is exactly why having health insurance for senior citizen becomes inevitable.

Jagrity Sharma
Written by Jagrity Sharma
A bibliophile who hates alliterations, but loves cream, comics and content immensely! On another note, a content marketer who leverages the power of words to explain...almost anything!