Best Health Insurance Schemes for SEnior Citizens

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Age is not anymore a number when it comes to health insurance. With increasing age comes the additional risk of falling sick and contracting diseases. It is said that the later years of an individual’s life are financially less sound and physically more challenging and so, having a medical insurance scheme to take care of any urgent health expenditure is an intelligent practice.

Best Health insurance scheme for senior citizens/parents offer numerous unique features like cashless hospitalization, specific coverage for diseases like cancer, stroke, etc. and critical illness coverage.

Some of the most crucial features of health insurance plans for senior citizens in India are mentioned below:

• Hospitalization cover, including room charges and medical bills
• Cashless Hospitalisation through cashless plans
• Day Care expenses which might arise out of technological advancements
• Ambulance Charges are included
• Coverage for pre-existing diseases is offered, which is subject to insurer, and the plan was chosen
• No need to undergo medical screening to avail health insurance. This feature is insurance provider specific.
• Higher sum insured
• Pre-existing disease covered
• Hassle-free and fast settlement

Health is an asset, and every aspect of life runs around good health. Due to the changes in health due to old age, it is imperative to have a good health insurance product to help you through your difficult years.

Here are some Best Plans
HDFC Critical Illness Insurance

It provides a lump sum payment in case the policyholder is diagnosed with a health related condition which is serious in nature. Such problems often escalate and become critical in nature. Some of the critical illnesses include Heart Attack, Paralysis, Cancer, Coronary, Artery bypass surgery, Major organ transplant, kidney failure, and a stroke.

• It is a comprehensive plan that provides coverage for surgeries, hospitalization, and critical illness.
• Lump sum payout against 18 critical illnesses and 138 surgical procedures.
• Daily hospitalization cash benefit in case of hospitalization
• Flexibility of paying single or regular premium based on the convenience

Coverage	Red Carpet Plan by Star Health (Individual)	Optima Senior by Apollo Munich (Individual)	Heartbeat by Max Bupa (Family floater, Individual)
Entry Age	Between 60 to 75 years	61 years and above	0 to 65 years
Sum Insured	Rs.1 lakh to Rs.5 lakhs.	Rs. 2 lakhs to Rs. 5 lakhs	Rs. 2 lakhs to Rs. 15 lakhs
Network Hospital	6000 network hospitals	4000 network hospitals	3500 network hospitals
Premium	Rs.4,450 to Rs.18,000	Rs. 12,000 to Rs. 90,000	Rs.5333 for 2 lakh
Renewability	Lifelong	Lifelong	Lifelong
Discount	A discount of 10% on premiums payment	5 to 7.5% of discount on 2 years policy renewals	Discounts available on 2-year policy renewals

Red Carpet Plan by Star Health

• Pre-existing diseases are covered excluding for conditions for which treatment was suggested by or received during the immediately preceding twelve months.
• Co-payment clause available - 30 percent for other than claims for pre-existing diseases and 50 percent for pre-existing diseases.
• Discount of 10 percent on the premium is available if all lab tests and other documents are submitted.
• Enhancement of Sum Assured is permitted during renewal time.

Optima Senior by Apollo Munich

• Wife and Husband can be covered under the same policy on individual sum insured basis and get a 5% discount on the premium
• Pre-screening medical tests are compulsory. The company would then reimburse 50 percent of these expenses.
• 140 day-care procedures that do not require a 24hours hospitalization are covered.
• Enhancement of Sum Assured is permitted during renewal
• Cumulative Bonus of 5% for every claim free policy year
• Pre-existing diseases are covered after three years
• Two years waiting period for specific diseases like a hernia, cataract, joint replacement surgeries, etc.

Heartbeat by Max Bupa

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

The Bottom Line

Old age brings with it several health conditions that are heavy on the pocket to treat. Health Insurance for senior citizens is the best way to avoid tension and anxiety of paying expensive bills. A lot of health Insurance plans are made available by various insurance companies, especially for people who are 65 years and above. These insurance schemes voluntarily cover any medical expenses incurred by customers in their old age.