July 22, 2021
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As the age advances, the body and the health require more attention and care. With the skyrocketing health care expenses, getting a treatment has become an expensive proposition. The matter is all the more serious for the senior citizens. Post retirement, there are limited funds to sponsor your financial requirements and on the top of it combating with ill health and allied expenses becomes a challenge. To have a financial protection for your health it is imperative to have a Health Care Plans for Senior Citizens by your side.

There are numerous health insurance plans for senior citizens offered by Insurance companies. It is important to understand your need, policy coverage, exclusions, inclusions, sub limits, waiting period and lastly your budget before finalizing the plan. For this a proper comparison for health insurance plans for senior citizens is must. Listing down 5 Best Health care Plans for Senior Citizen Parents.

1. Star Health Red Carpet Senior Citizen Policy

Star Health Red Carpet Senior Citizen Policy is offered by Star Health Insurance Company.

Key Policy Benefits:

  • In-patient hospitalization treatment, including room rent, nursing, ICU and boarding expenses are covered up to the limits specified.
  • No Medical test is required for those having no adverse medical history.
  • The company offers direct in house quick claim settlement
  • Treatment for specified illnesses like Cancer, Renal Complications,Treatment for breakage of bones, cataract, cardiovascular accident,etc. are covered.
  • Post Hospitalization expenses paid as lump sum subject to the limits are also covered
  • Specific Day care Procedures are covered under the plan.
  • The plan offers 6000 plus network hospitals for the cashless hospitalization.
  • OPD medical consultations are covered.
  • The plan is available for the purchase online.

Key Eligibility Criteria:

  • Minimum Entry age is 60 years and maximum is 75 years.
  • Minimum Sum Insured is 1 Lac and maximum is 10 lacs.
  • Any pre-existing ailment/injury that was acquired within 12 months before issuance of the first policy.

2. HDFC ERGO  Health Optima Senior Plan

HDFC ERGO Health Optima Senior Plan is offered by HDFC ERGO Health Insurance Company.

Key Policy Benefits:

  • Plan offers in patient hospitalization which covers the medical expenses for the hospitalization where the policyholder stays for more than 24 hours.
  • Pre and post hospitalization expenses 30 days before and 60 days after hospitalization are covered.
  • 140 day care treatments which do not require a minimum stay of 24 hours in the hospital are also covered.
  • Domiciliary treatment is also covered under this senior citizen plan as prescribed by the medical practitioner
  • No Claim Bonus of 5% is applicable for a claim free year under this plan
  • The expenses for the organ donor during an organ transplant are covered under this plan.

Key Eligibility Criteria:

  • Minimum Entry age is 61 years and there is no cap on the maximum age.
  • Minimum Sum Insured is 2 Lac and maximum is 5 lacs.
  • Any pre-existing ailment is covered after 3 years of continuous policy coverage.

3. TATA AIG MediSenior Plan

TATA AIG MediSenior Plan is offered by TATA AIG General Insurance Company.

Key Policy Benefits:

  • Room rent, ICU charges, medicines, drugs, diagnostic procedures, etc. are covered under In-patient treatment expenses.
  • Pre hospitalization and Post hospitalization expenses are covered up to 30 days before getting hospitalized and 60 days after discharge.
  • 140 listed day care procedures are covered which needs less than 24 hours of hospitalization.
  • Domiciliary treatment expenses are covered after continuous hospitalization for at least 3 days.
  • Organ donor expenses are covered for harvesting the organ.
  • Emergency ambulance charges are covered under this policy.
  • Get the cumulative discount of 5% on premium for each claim-free policy year.

Key Eligibility Criteria:

  • Minimum Entry age is 61 years and there is no cap on the maximum age.
  • Minimum Sum Insured is 2 Lac and maximum is 5 lacs.
  • Any pre-existing ailment is covered after 4 years of continuous policy coverage.

4. National Varistha Mediclaim Plan

National Varistha Mediclaim Plan is offered by National Insurance Company.

Key Policy Benefits:

  • It covers Hospitalization benefits which include Room charges, Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialists Fees, ICU Charges, etc. for a minimum stay of 24 hours in the hospital subject to sub limits.
  • Domiciliary Hospitalization expenses are covered under this policy.
  • Organ Donor expenses covered subject to sub limits.
  • Policy also offers a lumpsum payment if diagnosed with any of the listed 8 critical illnesses.
  • Emergency Ambulance charges are covered under this policy.
  • Cumulative Bonus of 5% of the sum insured is payable to a maximum of 50% of the sum insured.
  • Health check up expenses are covered once after a block of every 3 claim free years.

Key Eligibility Criteria:

  • Minimum Entry age is 60 years and maximum entry age is 80 years.
  • Minimum Sum Insured is 1 Lac for hospitalization and maximum 2 Lac for critical illness.
  • Any pre-existing ailment is covered after 2 years of continuous policy coverage.

5. Universal Sompo Senior Citizen Health Care Plan

Universal Sompo Senior Citizen Health Care Plan is offered by Universal Sompo General Insurance Company.

Key Policy Benefits:

  • Room rent, nursing, anaesthesia, OT charges, Medical Practitioner/Specialists Fees, etc are covered under in patient hospitalization.
  • Pre hospitalization and post hospitalization expenses are covered up to 30 days and 60 days respectively.
  • Ambulance charges are covered up to the limits mentioned in the policy.
  • Cost of health check-up is covered upon completion of 3 claim-free policy years.
  • Day care procedures/surgeries that require less than 24 hours of hospitalization are covered.
  • Domiciliary hospitalization expenses are covered up to the limits mentioned.
  • Daily cash allowance is payable for each continuous and completed 24 hours of hospitalization, up to the limits mentioned.
  • There is an option to cover 6 listed critical illnesses. It is an add-on cover.

Key Eligibility Criteria:

  • Minimum Entry age is 60 years and the maximum entry age is 70 years
  • Minimum Sum Insured is Rs 1 Lac and maximum is Rs 5 lacs.
  • Any pre-existing ailment is covered after 2 years of continuous policy coverage.

Apart from the main policy benefits, Health Care Plans for Senior citizen offer Tax Benefits under section 80 D of the Income Tax Act, 1961 upto Rs 30,000. The tax benefit can be enjoyed by an individual who pays health insurance premium for his/her senior citizen parents over and above his/her own health insurance premium.

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Insurance

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