The technical advancements in the medical world have widened the scope of living a healthy life. But nothing can stop old age. As old age brings several ailments, it becomes very essential to have sufficient health insurance.
Therefore, when choosing a plan for Senior citizen health insurance India it is required to see whether it provides sufficient coverage against old age ailments. The insurance policy for senior citizens is applicable to the age group of 60 to 75 years. These policies help a person in bearing their medical expenses and act as a shield during the time of their old age.
Nowadays, there are numerous insurance companies that offer policies specially designed for senior citizens. However, the pros and cons of these policies often depend upon how one is analyzing the schemes before selecting one. Most of the plans for the senior citizen health insurance India is being designed to provide all-round coverage. Thus, it becomes very essential to choose one that fits your requirements. The following is a list of the best senior citizen health insurance schemes in India:
Some Popular Senior Citizen Health Insurance Schemes in India
Bajaj Allianz Silver Health Plan
Bajaj Allianz Silver Health Plan is a special senior citizen health insurance India. As health care is getting more expensive day by day, this plan ensures the coverage of the entire health cost. The following are the key features of a Bajaj Allianz Silver Health Plan:
- The insured must lie between the age group of 46 to 70 years.
- The policy term for this policy is one year.
- The minimum amount for this insurance is Rs 50,000 while the maximum amount is Rs 5,00,00.
- The plan includes the coverage of ambulance, hospitalisation and post-hospitalisation charges. It also includes coverage for pre-existing diseases.
- The policy can be renewed at any point in time.
- It also includes tax benefits on premium and offers a cumulative bonus.
Star Health Red Carpet for the Senior Citizens
Star Health Red Carpet for the Senior Citizens is an insurance policy that pertains to the individual needs of the senior citizens. It is provided by the Star Health Insurance Company. It is designed to specially cater the medical requirements of the senior citizens. The following are the main features of Star Health Red Carpet for the Senior Citizens:
- The insurance amount ranges between Rs 50,000 to Rs 5,00,000.
- It offers a guaranteed renewal prior to the age of 75.
- There is no need for a medical test in this policy.
- It includes coverage for treatment in hospitals that lie within the area.
- It includes hospitalisation expenses such as consultant’s fees, surgeon’s fees, diagnostic tests and the costs of drugs.
Apollo Munich- Optima Senior
Apollo Munich- Optima Senior is a senior citizen health insurance India. It is comprehensive and created especially for senior citizens. The following are the main features of an Apollo Munich- Optima Senior:
- It involves medical coverage for the citizens whose age starts from 61.
- The sum insured can be anything between Rs. 2,00,000 to Rs. 5,00,000.
- The premium on this policy depends on the amount insured and also on the policy holder’s age.
- The policy involves tax benefits on the premium paid.
- Apollo also offers options for portability to Apollo Munich after a policy’s renewal.
- It excludes diseases such as AIDS/HIV, mental disorders, cosmetic surgeries, pregnancies, dental treatment etc.
Religare- Care Freedom
Religare- Care Freedom is a comprehensive health policy that provides health insurance to people of all ages. It includes payment for any health issue occurring to the insured. The following are the key features of a Religare- Care Freedom policy:
- It provides insurance coverage of an amount up to Rs. 5,00,000.
- The policy can be taken for a term of 1 to 3 years.
- In the case of pre-existing illness, the waiting period is 2 years.
- There is an inclusion of a grace period of around 30 days from the expiry date.
- It includes hospitalization expenses such as nursing, surgeon’s fees, charges of the operation theatre, rent of the room, ICU charges etc. Expenses for daycare treatment are also included in this plan.
Oriental HOPE Senior Citizen Health Insurance Plan
Oriental Insurance- Health of Privileged Elders is an insurance policy designed especially for citizens who are above 60 years of age. This policy has a wide coverage that includes a number of diseases. The following are the most important features of the Oriental Insurance policy:
- This policy can be taken for a policy term of 1 year.
- The sum insured can be anything from Rs 1 lakh to Rs 5 lakhs.
- There is an inclusion of compulsory co-payment of about 20%.
- It covers specific diseases such as cancer, cardiovascular, stroke, chronic renal failure etc.
Retirement is the time when you need special medical attention. Senior citizen health insurance India helps in providing a backup to people in their old age. However, one needs to ensure that they have a proper understanding of the terms and conditions associated with every plan before they opt for one.