Picking The Right Health Insurance for Senior Citizens in India


Did you know that a survey done by Aditya Birla Health Insurance’s Indian Parental Care showed that out of 998 senior citizens (aged between 60-70 years), only 18 percent have health insurance for senior citizens in India cover plan?

In a country like India with nearly 104 million elderly persons(60 years or above)- according to Population Census 2011, why is the health insurance density so low?

One of the reasons is the lack of knowledge around Health insurance. So let’s learn more about health insurance for senior citizens in India.

How is health insurance for senior citizens is different from the other ones?

Normal health insurance is good for most people, but when it comes to older age groups, they may not always benefit from it. Not only are entry years limited to 60- 65 years (typically), but the benefits and inclusion they offer may not be enough for senior citizens.

Generally, if you look at your older age, a general health insurance policy can ask for a medical examination, and it can deny health coverage afterward. However, even if do end up getting insured, you might have to pay higher premiums.

So, if you want to spend your money in the right place, a safe bet to invest in health insurance for senior citizens. In addition, some plans are affordable and the maximum age is often close to 80 years (depending on insurance plans).

Such programs are designed to address the health problems of old age and to provide guaranteed peace of mind when in need of treatment.

Importance of health insurance for senior citizens in India

Stationary lifestyle and no such work or income in old age often result in health problems. This makes it even more important to buy health insurance for senior citizens. Here are a few more reasons why buying health insurance plans for senior citizens is important:

More risk of illnesses

With the growing age, illnesses are inevitable. Visits to hospitals become often and if the need arises they need to be hospitalized. Having protective health insurance can help you cover costs without compromising your savings.

Having health insurance can help you to manage and take care of your medical expenses and your finances. Subsequently, you can spend your money wisely on other investments and stay safe.

Access to the world-leading medical facility

With old age comes sudden medical emergencies and looking at the rising costs of treatment can hinder in receiving the best medical facility and treatment.

But with solid health insurance. You can get quick and timely access to quality health care without having to worry about money, as the insurance company will cover the costs.

Worry-free pre-post hospitalization bills

Most of the senior citizen health insurance programs cover pre and post-hospitalization bills such as doctor consultations, medical examinations, ambulance costs, etc.

Some plans also offer claims, so if you need you can simply get all the follow-up visits and post-surgery treatment reimbursed.

Nowadays, all insurance companies in India have free cashless payments claims. In a medical emergency, the last thing you want to do is make financial arrangements for treatment.

This is where this feature of health insurance plays an important role.

As long as the hospital is in the insurance company’s network, all you need to do is to produce the insurance card at the hospital.

And all the bills will be settled between the health insurance company and the hospital.

Keep in mind: before buying a policy, it is important to carefully check the insurance company’s network to confirm that they have hospitals near you.

Tax benefits

Buying and paying for the premiums of health insurance offers tax benefits. The premium you pay for health insurance is considered to be deducted under section 80D of the Indian Income Tax Act to a maximum of Rs. 50,000 (for adults).

Best health insurance for senior citizens

The best health insurance plan for senior citizens should have these things:

1. Should cover pre and post-hospitalization bills.
2. Should provide coverage of 20 lakh or above.
3. Should also cover pre-existing diseases.
4. Should provide cashless payments options.
5. Should have a hospital network in your vicinity.

At Niranjan Bhagat, the Health insurance plans for senior citizen has all the aforementioned features.

From covering the pre and post-hospitalization bills, providing coverage up to 25 lakhs to providing cashless payment options, it is a right fit for senior citizens.

Moreover, Nirajan Bhagat health insurance plans are easy to get as there is no pre-acceptance medical screening, additionally provides constant premium with lifetime renewals guaranteed.

There you have it, everything about there is to know about the health insurance for senior citizens in India. Despite the population in India, the number of people insured is low and this needs to be addressed to provide everyone a secure future.

With this aim in mind, Niranjan Bhagat is working to provide everyone health insurance that fits their needs. So if you are a small business or a large one, or individual buying health insurance yourself or for someone. Connect with me today!

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