6 Important Tips to Choose the Right Senior Citizen Health Insurance Policy


Medically reviewed by

Bajaj Finserv Health

Aarogya Care

5 min read

Key Takeaways

  • Around 80% of seniors suffer from chronic health conditions
  • Buy a senior citizens health insurance to protect your elders
  • Consider a health insurance policy with a comprehensive cover

To help your parents address age-related health issues in their golden years, the best thing you can do for them is to buy the right health insurance scheme for senior citizens. This provides a health cover in their advancing years when they become more prone to illnesses. According to the National Council on Aging, 80% of seniors suffer from at least one chronic health issue [1]. Diabetes, cancer, and heart disease are among the most common chronic health conditions [2].

With numerous health policies available, how do you decide which is the best health insurance for senior citizens in India? One thing you can keep in mind is that an individual health policy for your parents may be better than a group health insurance for senior citizens. This way, you can pay affordable premiums for a family floater plan for the rest of the family members.

Read on for some useful tips that will help you select the right senior citizens health insurance policy for your loved ones.

Insurance for senior citizens

6 key factors to choose the best health insurance for senior citizens

  • Compare the sum assured, premiums, and co-payment clauses

    Health insurance for senior citizen comes at higher premiums compared to other policies. This is because the risk of diseases increases as you age. Plus, there’s a high possibility of age-related diseases like hypertension [3] and cardiovascular diseases. Thus, it is better to opt for a higher sum assured. However, do compare the premiums charged by different health insurance companies. Check the co-payment clause too where some part of the claim will have to be paid by you.

    Additional Read: Importance of Health Insurance: 4 Reasons to Have Health Insurance in India
  • Look for policies that cover daycare and domiciliary care expenses

    Seniors often require medical care of at home due to decreased physical abilities. Doctors may prescribe domiciliary treatment where elders need individual care. The expenses during this period can be quite high. In some cases, patients require a daycare procedure where they are hospitalized for less than 24 hours. So, find a senior citizens health insurance policy that covers such expenses for greater ease.

  • Check pre-existing disease covers and their waiting period

    Pre-existing diseases are the existing health conditions that policy holders are already diagnosed with before taking the health policy. Make sure that you furnish the details of such pre-existing diseases when buying a health insurance scheme for senior citizens. Insurers also assign a waiting period for such diseases in the agreement. It is best for you to buy a health insurance policy for your parents that has the least waiting period.

  • Look for AYUSH coverage, psychiatric care, and critical illness benefit

    Dementia and depression are the most common mental and neurological health conditions among the older generation [4]. Also, the risk of critical illnesses such as cancer, kidney failure, and heart diseases are higher in seniors. Their treatment cost when compared to other illnesses are higher too. To address this, look for a senior citizens health insurance plan that covers such expenses. Sometimes your parents may also want to seek alternative treatment methods like AYUSH [5]. In such cases, check with the insurer as they usually offer this facility as an add-on.

Reasons to buy Health Insurance
  • Consider network hospitals and zone upgrade facility

    Say there’s a medical emergency and you have to admit your elders to a nearby hospital but face financial challenges. In such a case, hospitalization at network hospitals can help you as you can avail of a cashless claim settlement facility. This is where the insurer directly makes the payment to the hospital. Thus, the more network hospitals the insurer has, the better it is for you. However, keep in mind that treatment expenses differ in various cities, and so does the premium. Consider a policy with zone upgradation facility if you seek treatment in Zone A or B cities.

  • Go for a policy with cumulative bonuses and a high claim settlement ratio

    Cumulative bonuses are what you get at the end of every claimless year in the form of an increased sum assured without a change in the premium. However, the percentage of this benefit differs with every insurer. Therefore, opting for a health insurance for a senior citizen with a higher cumulative bonus facility helps reap maximum benefits. At the same time, look for a health insurance company with a higher percentage of claims settled to minimize the chances of rejection.

    Additional Read: Making a Health Insurance Claim? Follow These Simple Yet Important StepsHealth Insurance for the elderlyGive your parents what they deserve to live a happy and healthy life by choosing the right senior citizens health insurance plan that suits your specific needs. Consider Aarogya Care Health Plans on Bajaj Finserv Health to enjoy affordable premiums, cashless claim settlement and a best-in-class claims settlement ratio. Apart from Aarogya care Bajaj Finserv Health Offers a Health card that converts your medical bill into easy EMI.
Published on 2 Sep 2021Last updated on 21 Feb 2023
  1. https://www.ncoa.org/article/get-the-facts-on-healthy-aging#intraPageNav0
  2. https://vitalrecord.tamhsc.edu/10-common-elderly-health-issues/
  3. https://www.who.int/news-room/fact-sheets/detail/hypertension, https://www.medanta.org/patient-education-blog/is-old-age-linked-to-increases-in-mental-health-issues/
  4. https://www.nhp.gov.in/ayush_ms, https://www.godigit.com/health-insurance/tips/factors-to-consider-when-buying-senior-citizen-health-insurance
  5. https://www.policybazaar.com/health-insurance/senior-citizen-health-insurance/articles/7-health-insurance-points-to-remember-for-senior-citizens/
  6. https://www.insurancedekho.com/health-insurance/articles/tips-to-choose-right-health-insurance-plan-for-senior-citizens-1139#popup

Please note that this article is solely meant for informational purposes and Bajaj Finserv Health Limited (“BFHL”) does not shoulder any responsibility of the views/advice/information expressed/given by the writer/reviewer/originator. This article should not be considered as a substitute for any medical advice, diagnosis or treatment. Always consult with your trusted physician/qualified healthcare professional to evaluate your medical condition. The above article has been reviewed by a qualified doctor and BFHL is not responsible for any damages for any information or services provided by any third party.


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