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Best Health Insurance for Senior Citizens

Here is a look at some of the best health insurance plans that are available in India for seniors

Star health's Red Carpet plan:

  • All pre-existing diseases are covered except for diseases for which treatment was recommended by or received during the immediately preceding 12 months.
  • Co-payment clause - 30% for other than claims for pre-existing diseases and 50% for pre-existing diseases.
  • Discount of 10% on the premium is available if lab tests documents are submitted.
  • Enhancement of SA is permitted during renewal time.

Apollo Munich's Optima Senior:

  • Husband and wife can be covered under the policy on individual sum insured basis and get 5% discount on the premium
  • Pre-screening medical tests are mandatory. The company would reimburse 50% of these expenses.
  • 140 day-care procedures, which do not require 24 hours hospitalization, are covered
  • Enhancement of SA is permitted during renewal
  • Cumulative Bonus (CB) of 5% for every claim free policy year
  • Pre-existing diseases are covered after 3 years
  • 2 years waiting period for specific diseases like cataract, hernia, joint replacement surgeries etc.
  • Co-payment of 30% applicable on specified illness/surgeries like Cataract (each eye), Hysterectomy, Arthroscopy etc.Co-payment of 15% shall be applicable to all Day Care Procedures

Max Bupa's Heartbeat:

  • Reducing co-payment clause. This is a very good feature. After 4 years of continuous renewals the co-payment percentage will become nil for senior citizens.
  • Free health check up every year
  • Plan will not cover treatment during the first 90 days of the policy, unless the treatment needed is a result of an accident or emergency.
  • All day care treatments are covered.
  • 10% additional sum assured at each renewal.

ICICI Lombard's iHealth plan:

  • No mandatory sub-limits. However the customer can get the hospitalization cover with a reduced premium by limiting the medical expenses pertaining to specified medical and surgical procedures.
  • Co-payment clause is voluntary
  • Free health check up every year
  • Certain lists of diseases or ailments are not covered for first 2 years.
  • Cumulative bonus of 10% on Sum assured can be accumulated for every claim free policy year.

National Insurance's Varishtha Mediclaim:

  • Policyholder can either opt for a premium discount of 5% for each claim free year till it reaches 50% or can select the cumulative bonus option.
  • Mandatory co-payment of 10% and additional 10% for pre-existing diseases.
  • Sum Assured amounts are fixed at Rs 1Lakh for mediclaim and Rs 2 Lakhs for Critical Illness.

New India's Senior Citizen Mediclaim:

  • Premiums will increase by 10% for renewals between age of 81-85 years and 20% for renewals between the age group 86-90 years
  • Reimbursement of Medical Check-up costs once in block of 4 claim free years.

United India's Senior Citizen Plan:

  • Free Medical check-up once at the end of every three policy years provided no claims are reported.
  • Family discount of 5% on the total premium if policy is taken for self and any one or more family members viz. spouse or dependent children.

Bajaj Allianz's Silver Health:

  • Reimbursement of pre-medical tests’ costs.
  • Cumulative bonus of 10% for every claim free policy year.
  • 20% co-payment is applicable if the policyholder is hospitalized in a non-network hospital.
  • 1 year waiting period for pre-existing diseases. After one year, the company will pay only 50% of the claim amount on these diseases.
  • 130 day-care procedures are covered.

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