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Guide to Buy Health Insurance for Senior Citizens

19 May 2022, 1:17 PM

Retirement is the golden phase of life where senior citizens enjoy the small and simple joys of life that they couldn’t enjoy earlier. However, old age is also the age where health starts getting affected, visits to doctors become frequent which can cause your hard-earned savings to erode. Buying a health insurance plan for senior citizens is one of the best ways to secure the hard-earned money as the cost of medical treatment is on a constant rise. Today, there are various health insurance providers offering senior citizen health insurance plans to help senior citizens plan and secure their finances against the demon of sky-rocketing medical treatment costs. 

What is a Senior Citizen Health Insurance Plan?

A senior citizen health insurance plan, as the name suggests is a health insurance coverage offered to individuals aged more than 65 years of age. The senior citizen Mediclaim policy is designed by keeping in need the medical and financial needs of senior citizens. The plan offers to secure the finances of a senior citizen by offering coverage towards expenses incurred for medical treatment. 

A senior citizen health insurance plan offers numerous benefits like cashless hospitalization, day-care treatments, critical illness cover, hospitalization expenses, pre-existing disease cover, etc. Offering such benefits ensures mental peace and reduces stress as they know they are financially covered and will receive good healthcare facilities.

Why Buy a Health Insurance Plan for Senior Citizens?

Retirement marks the beginning of the second innings of life which is expected to be peaceful and enjoying missing joys of life. However, medical expenses can make it a stressful inning as senior citizens have a limited source of income post-retirement. Buying a health insurance plan is the best way for a senior citizen to ensure mental and financial security. A Mediclaim policy for senior citizen is important because:

  • It ensures financial safety against the rising cost of medical treatment
  • The payment of medical treatment is hassle-free
  • Gives peace of mind to enjoy post-retirement life

What is Covered Under a Senior Citizen Health Insurance Policy?

A Mediclaim policy of senior citizen helps cover the cost of treatment as under:

  • Hospitalization expenses – room rent, hospitalization expenses, medicines, surgery costs, doctor’s fees, etc.
  • Day-Care Treatment like cataract, blood dialysis, chemotherapy, etc.
  • Ambulance charges incurred for the transportation of the patient from home to hospital and back, however, this expense is subject to a certain limit.
  • Pre-existing medical conditions as exclusively mentioned under the insurance policy.
  • Annual medical check-ups.
  • Pre-Hospitalization and Post-Hospitalization expenses covered by the Mediclaim provider.

Steps to Purchase a Health Insurance Plan for Senior Citizen

Buying a health insurance plan for senior citizens is not an easy task. The insurance market is consumer-friendly and you will find numerous options available to choose from. However, do not buy any health insurance plan as it might not turn out to be beneficial as you might have thought. Therefore, consider the below-given factors before buying a health insurance plan for senior citizens.

  • Medical History
    Medical History is an important factor to be considered at the time of purchasing a health insurance plan for senior citizens. Medical history is a record of all ailments and knowing them will help you choose and curate best health insurance coverage and benefits for senior citizens.
  • Age Factor
    Age is a driving factor in insurance plans. It is a thumb-rule that as age increases the premium amount of the Mediclaim policy will rise as elderly people are prone to sickness and illness. Therefore, take into consideration the age factor while purchasing a family floater health insurance plan. 
  • Compare
    As consumers are spoilt with numerous health insurance plans options. Comparing them is the key to avail of the best Mediclaim policy. Comparing the important features like inclusions, exclusions, insurance coverage, rider facility, etc. will aid in buying the desired health insurance plan. Compare benefits and do not let premium be the deciding factor while purchasing a health insurance plan.
  • Hospital Network
    Choose a health insurance provider that is accepted in the hospital in your neighbourhood. As the policy is for senior citizens, it is obvious that they would prefer hospitals in and around their locality. 
  • Waiting Period
    It is a hibernation period under most of the health insurance plans where no claims will be admissible. While buying a health insurance plan for senior citizens, you need to carefully take into consideration the terms and conditions of the waiting period including the waiting period for the pre-existing disease. 
  • Sub-limits
    It is cap defined by the insurance provider on various medical procedures and expenses. Check the sub-limits terms and conditions as it defines the coverage offered to you by the insurance provider.

Thus, above are the important factors to be considered while choosing a health insurance plan for senior citizens. Both Online and Offline channels offer simple guided procedures for purchasing a health insurance plan. If you wish to gift your elderly parents with a Mediclaim policy, visit the nearest office of your preferred insurance partner or purchase the policy online. You are required to submit the required relevant documents and you can buy a health insurance plan for senior citizens.


Choose the best health insurance plan for the elderly as they need this coverage to secure themselves financially during the golden period of their life. Do not leave the aspect of the health insurance plan for a senior citizen to uncertainty as it might stress them in times of medical emergency.

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