Affordable and best health insurance plans in India for parents or senior citizens

In olden days, it was a pre-conceived notion that medical insurance policies are made only for the sick. This prevented the generation from buying a health plan for themselves or their family. Thus, they still remain uncovered under a suitable plan.

However in the present times, the medical expenses are sky-rocketing persistently. A simple heart surgery costs more than 4 lacs. Considering the proliferating inflation process, these rates will increase more in the near future.  

Keeping in mind the growing rate of health related risks, it has become mandatory for every individual to get themselves insured under a proper and best-in-class health cover. But what about our parents or senior citizens who have not purchased a plan earlier?

Is there any health insurance plan available for senior citizens in the insurance market?  Is the payable premium affordable? Will those plans include pre-existing diseases? If yes, which plan is the best?

There are many senior citizen health insurance plans available in the market, but to help you choose the best we have shortlisted a few good health plans.

Here’s a list of the companies along with their features that offer best-in-class health insurance plans for the senior citizens.

• Religare Freedom Care- The main features of Religare Freedom Care health insurance plan are as follows:

Ø  Minimum entry age for adult is 18 years and for child is 90 days.

Ø  Amount of sum insured is 3 lacs and 5 lacs.

Ø  No medical check-up required for any age group.

Ø  Offers Individual and Floater type of health cover.

Ø  Health check-ups are annually available.

Ø  Waiting period for 2 years for both named and pre-existing diseases.

Ø  Pre Hospitalization and post expenses are covered up to 7.5% and 10% of the payable hospitalization expenses.

Ø  Offers the Recharge facility when the sum insured gets exhausted

 

• Star Red Carpet- The main features of Star Red Carpet health insurance plan are as follows:

Ø  Minimum entry age is 60 years and maximum entry age is 75 years.

Ø  Amount of sum insured ranges between 1-10 lacs.

Ø  No medical check-up required for any age group.

Ø  Offers Individual type of health cover.

Ø  Health check-ups are available only at renewal.

Ø  Waiting period for 1 year for both named and pre-existing diseases.

Ø  Pre and post hospitalization expenses of up-to 7% or maximum up to Rs. 5000 per occurrence.

Ø  Co pay 50% of claimable expenses in case of pre-existing diseases and 30% of any claimable expenses

 

• L and T Medisure Classic- The main features of L and T Medisure Classic health insurance plan are as follows:

Ø  Minimum entry age is 18 years and there is no maximum age upper limit.

Ø  Amount of sum insured ranges between 1-5 lacs.

Ø  Medical check-up is necessary for people above 51 years of age.

Ø  Health check-ups are available after 4 years of continuous renewal of the policy up-to a maximum amount of Rs. 2000.

Ø  Waiting period of 2 years for listed conditions and 3 years for pre-existing diseases.

Ø  Pre and post hospitalization expenses for 30-60 days period are payable.

Ø  Restoration of sum assured only in case of accidents

Ø  Option to opt for additional coverage for critical illnesses listed in the document

 

• Cigna Pro Health Protect- The main features of Cigna Pro Health Protect  health insurance plan are as follows:

Ø  Minimum entry age for child is 91 days and for adult is 18 years. There is no maximum upper limit age.

Ø  Wider sum insured option. Amount of sum insured ranges between 2.5-1 crore.

Ø  Medical check-up is necessary for people above 46 years of age.

Ø  Free health check-ups are available every 3 years.

Ø  Pre and post hospitalization expenses are covered for 60, 90 days.

Ø  They offer the restore benefit which gets activated when the claim money is insufficient.

Ø  Worldwide coverage in case of emergency treatments

 

• Oriental Individual Mediclaim- The main features of  Oriental Individual health insurance plan are as follows:

Ø  Minimum entry age is 18 years and maximum entry age is 80 years.

Ø  Amount of sum insured ranges between Rs.50, 000 -5 lacs.

Ø  Medical check-up is necessary for people above 45 years of age.

Ø  No co pay and No limits on room rent expense.

Ø  Health check-ups are available after 4 claim free years.

Ø  Provides 1 and 2 years of continued coverage in waiting period for named diseases and 4 years of coverage for pre-existing diseases.

Ø  Covers pre and post hospitalization expenses for 30 and 60 days period.

 
You do not know when a medical emergency might crop up, and you don’t want to be a victim of financial constraint as a result of a medical emergency. So choose wisely and save yourself some money because “A Penny Saved is a Penny Earned”.