All You Need to Know About Health Insurance for Senior Citizens In India

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Older people are more prone to illnesses and various medical ailments than younger people. They may develop certain health complications at any time. And with rising medical inflation and hospitalization charges, the expenses for their treatment may cost you a fortune. So, to make sure that you do not go through any financial stress in the future, it is in your best interest to buy health insurance for senior citizens in India.

With health insurance for senior citizens in place, all the medical bills can be covered extensively, and you may not have to worry about the finances. Let us understand what is health insurance for senior citizens in India and why should you buy it.

What Is Health Insurance For Senior Citizens in India?

Health insurance for senior citizens in India is a specific type of health insurance that covers all the healthcare expenses of senior citizens who have crossed 60 years of age. Having the right health insurance for senior citizens with adequate sum insured can help you secure your family’s financial future.

Health insurance for senior citizens in India may include annual health check-ups, post-hospitalization expenses, organ donor cover, etc.

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Why Should You Buy It?

Senior citizens may face unexpected illnesses or prolonged medical conditions. And the expensive hospital bills for treatment may put you under financial stress. Therefore, there is a need to buy adequate health insurance for senior citizens in India, which will take care of all the health-related expenses, including pre-existing diseases.

Some of the reasons why you should buy it:-

  • Rising Healthcare Costs

With rapidly increasing medical treatment and hospitalization costs in India, buying adequate health insurance for senior citizens is essential.

  • Cover For Critical Illnesses

For older people, it is possible to get diagnosed with critical illnesses like heart or kidney ailments, etc. Health insurance for senior citizens in India provides coverage for critical illnesses.

  • Annual Health Check-Ups

With most health insurance policies for senior citizens in India, senior citizens can avail free health check-ups annually.

  • Peace Of Mind

Paying for expensive medical expenses and hospitalization charges can be distressing. Health insurance for senior citizens can give you peace of mind where you will not have to worry about the finances.

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Who Is Eligible?

These are some of the eligibility criteria:-

  • The minimum age for most policies is 61 years.
  • There is no maximum age limit.
  • It comes with lifelong renewability.
  • The waiting period for pre-existing diseases is usually 48 months.

Benefits of Health Insurance For Senior Citizens In India

Emergency hospitalization of your parents or grandparents can be very distressing both emotionally and financially, but having the right health insurance for senior citizens can be a massive relief in such a case. Health Insurance for senior citizens in India comes with many such benefits. Some of them are:-

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  • Cashless Treatment

Senior citizens can avail cashless treatment at network hospitals of the insurance company, given that they get admitted for a minimum of 24 hours.

  • Pre-Medical Screening

Unlike a regular health insurance plan, senior citizens are not required to undergo any medical screening before buying this policy.

  • Lifetime Renewability

Most health insurance for senior citizens in India comes with lifetime renewability.

  • Tax Benefits

Health insurance for senior citizens in India offers tax exemptions benefits on the paid premium every financial year under section 80D of the IT Act.

What Is Covered?

Some of the coverage provided under the health insurance policies for senior citizens in India are:-

  • It takes care of all the pre-and post-hospitalization expenses.
  • Pre-existing diseases are also covered under this policy.
  • It takes care of the organ donor expenses incurred during organ transplants.
  • It covers the daycare treatments that require hospitalization for less than 24 hours.

While buying health insurance for senior citizens in India, you need to carefully go through the insurance company’s benefits and buy the one that fits you the best. You can consider the ‘Care for Senior’ by Care Health Insurance. It is a health insurance plan exclusively for senior citizens with affordable premiums and extensive benefits which can relieve you of your financial burdens.