6 Reasons Health Insurance is Important for Senior Citizens


6 Reasons Health Insurance is Important for Senior Citizens

Age is just a number when you are young at heart! 60 years means you have entered the golden days of your life, where you are like a free spirit and have no social influence. However, this is the phase of life where you become vulnerable to endless health issues. As per census reports, there are 1,380 lakh seniors in the country. This number is expected to grow to 560 lakhs by the year 2031. In spite of such a high number, the healthcare services for the elderly seem to be inadequate. Most seniors, due to no fixed income post-retirement, have to compromise on healthcare treatments. Unawareness and misinformation are some of the biggest reasons why Indians still seem wary of investing in health insurance.  

Despite the importance and long list of benefits, sadly, only around 98% of seniors in India come under the coverage of health insurance. As medical inflation continues to rise, a one-time hospitalisation can exhaust your savings, especially when you do not have a regular source of income anymore. Amidst the increasing costs of healthcare expenses, there is a growing need for a mediclaim policy for senior citizens. 

Let us understand more about mediclaim policy for senior citizens and also look into why mediclaim is important for them. We will also discuss how Care Health Insurance for senior citizens can prove to be a suitable choice to offer the best possible coverage for the elderly at home. 

What is Medical Insurance for Senior Citizens?

As the name suggests, a mediclaim policy for senior citizens is a type of health insurance policy designed for senior citizens aged 60 years or above. Under this plan, people age 60 or above get coverage for planned hospitalisation or medical emergencies. While every health plan has some distinct features, these plans typically include coverage for chronic and lifestyle diseases like cancer, kidney failure, heart failure, stroke, etc. 

From hospital admission to surgery, medicine, and therapy, all are covered. Moreover, a mediclaim policy for senior citizens also comes with add-on benefits that help you extend its primary coverage.

How does Health Insurance Keep Senior Citizens Safe?

As you get older, you tend to become more vulnerable to chronic diseases, or even pandemics like coronavirus. Considering the rising medical inflation and cost of treatment, health insurance for senior citizens has become a necessity for elderlies. Health policy has been considered an important investment, especially after retirement. They act as a protective layer of security when there is an increased risk of health issues that may come knocking at your door when you least expect them. 

Benefits of Senior Citizen Health Insurance

It is a hard fact that the rising inflation is no friend of yours. Digging into your savings at the time of a medical emergency might not be a very good option. With the right type of policy for example-Care Health Insurance senior citizen policy, you can ensure complete coverage for your or your parents’ golden years. If you are still wondering why mediclaim is important, take a look at some of its benefits:

Financial Help whenever is Needed 

The sole aim of buying a mediclaim policy for senior citizens is to get financial help in your time of need. In a time when medical inflation is at an all-time high, a trip to the hospital can eat up all your savings in no time. The health plan offers coverage for hospitalisation, including in-patient hospitalisation, pre and post-hospitalisation and domiciliary hospitalisation, which can prove to be very helpful.

Cashless Treatment Makes Hospitalisation Smooth and Easy

Hospisation of the elderly can be physically as well as emotionally draining, not just for them but also for their family members. In such a time, running around managing funds and completing the paperwork can be stressful. The cashless treatment facility in a network hospital is ensured without cumbersome cash formalities. 

Coverage for Sundry Expenses 

With Care Health Insurance senior citizen policy, you not only get a coverage for your in-patient hospital expenses, but you can also enjoy a number of other coverage advantages. Some of these are:

  • Coverage for recurring costs of treatment, medicine, therapy, and dialysis reduces the financial burden on elderly people.
  • You get 30 and 60 days of pre and post-hospitalisation coverage, respectively.
  • The policy offers coverage for over 541 daycare treatments.
  • AYUSH treatments are covered for people who prefer alternate lines of treatment. 
  • The policy also covers ambulance expenses and organ donors.
  • With the benefit of annual health check-ups, you can also keep track of your health.

Tax benefit as an added Advantage

Under Section 80D of the Income Tax Act 1961 of India, the premium paid for a medical insurance policy entitles to be exempted from tax as per rules.  You can save up to ₹1 lakh on your taxable income by paying for the premiums under mediclaim policy for senior citizens. 

Peace of mind

Whether you make a claim during the policy year or not, with health insurance plans like Care Health Insurance for senior citizens you can always be assured that in case of a medical emergency, your health plan will help you sail through. 

Affordable Premiums

A health plan is nothing less than an investment. The premium that you pay today will be worth it in the future. Keeping in mind the healthcare costs, it’ll be much cheaper to pay the premium rather than paying the hospital bills. 

Hence, it is important to choose the right health policy to play this second innings of a life well. 

Things to Consider while Choosing the Right Mediclaim Policy for Senior Citizens

While investing in a mediclaim policy for senior citizens is always a good idea, keep in mind the following points to make the most of the policy: 

  1. Health problems are quite common in old age. In such a scenario, choosing a higher sum insured can be a smart choice. By paying a little extra premium, you can get enhanced coverage.
  2. Be careful when picking up the coverage. Try to opt for more comprehensive plans that offer more benefits and features.
  3. Factor in the pre-existing diseases, and be open to insurers about it. Not disclosing any medically relevant fact can lead to claim rejection and even policy cancellation.
  4. Find out about the network hospitals so that in case of an emergency, you can easily reach the one in your vicinity.
  5. Be it the deductible or the co-payment, choose your share carefully.
  6. Make sure you understand the inclusions and exclusions of the plan you choose. Watch out for sub-limits and different caps. 
  7. The premium should suit your budget so that you can pay it comfortably and not skip the renewal date. 
  8. Small benefits go a long way, so choose a policy that allows cashless treatment, no claim bonus on claim-free years, no pre-policy screening, PED coverage etc. 

Over to You

Having worked hard all your life, it is only fair that you sit back and relax in your retirement period. However, in order to live life to the fullest, you need to be mentally and physically healthy. While the future comes with too many uncertainties, the best way to move ahead in life is by being prepared.

In India, senior citizens either do not adopt any health insurance policy or are inadequately covered. Therefore, it is necessary for senior citizens to have medical insurance that is designed keeping in mind only their needs, like the Senior Citizen Health Insurance Policy by Care Health Insurance. It is the best option for senior citizens. Care Health Insurance for senior citizens allows you to get coverage that is specially designed to suit the needs of your parents. It covers their medical expenses and keeps them away from all health concerns. For more information we request you to drop your query here and we will get back to you soon.


The above information is for reference purposes only: Policy Assurance and Claims at the underwriter's discretion.

All plan features, benefits, coverage, and claims underwriting are subject to policy terms and conditions. Kindly refer to the brochure, sales prospectus, and policy documents carefully.

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