Why is a Separate Health Cover Better than Family Floater Policy for Senior Citizen Parents?


Why is a Separate Health Cover Better than Family Floater Policy for Senior Citizen Parents?

Senior citizens are the pillar of our families. They guide us through the different phases of our lives through their life-time experiences. Thus, it is the responsibility of the younger ones to protect their golden years in life. And nothing can be the best option than buying health insurance for parents in this regard.

But here’s the catch!

If you have covered your parents under a family health insurance plan, then it is time to rethink and make a change.


Because you may end up living with less coverage or excessive out-of pocket expenses during a health emergency. Let’s us explain!

But before jumping into that what about knowing the health insurance policy specially designed for the elderly section of the society?

What is a Senior Citizen Health Insurance Plan? 

A senior citizen health insurance plan is meant for individuals above 60 years of age. Senior citizen health plans are specifically designed for the comprehensive medical requirements of old age people. The health of every member of our family is essential. Yet, the elderly deserve specialised care and medical attention since ageing poses a lot of health risks. It also implies that their insurance needs would also be different. So, while a family floater plan may provide coverage for medical expenses but buying a customised senior citizen health plan has its advantages, one cannot ignore.

Why Invest in Senior Citizen Health Insurance is Better 

Here are some reasons why a separate health cover is a better option than just including your parents under a family floater policy: 

1. Affordable Premium Lowers Your Annual Expenses

In a family health insurance plan, the premium cost is based on the age of the oldest member of the family. Among other factors, age is a vital factor that can affect the premium amount that you pay regularly. If you are young, let’s say in your 30s and have a family floater policy that covers self, spouse, and dependent children; then, adding senior citizen parents under an existing family floater policy will increase the premium costs.

Compared to this, buying a senior citizen health insurance plan separately will secure your parent’s health in the best way possible as these plans are customised according to the specific needs of elderly people.  This way, the policy, and the premium cost will also be affordable.

2. You Get Adequate Coverage for Medical Treatment

Considering the ever-rising medical inflation, the higher the coverage amount of a medical insurance policy, the better it is. Your existing family floater policy may prove inadequate, if there is a senior parent with prolonged health history is added to the plan.  So, it is wise to buy separate Health Insurance for Senior Citizens as it would offer a high sum insured that will be available for your senior citizen parents only. Unlike a family floater plan, the coverage will not be shared with other family members and thus providing better medical facilities to your parents.

3. Dedicated Plan with better Medical Attention

 In a family floater health plan, the single sum insured is shared with all the insured members. Thus, it is not always possible for a family member to avail the best of medical facilities in order to keep the sum insured saved for the other members. However, this is not the case with individual health plans like senior citizen health insurance. Since the sum insured is only meant for the insured member, they can ensure best healthcare services in the time of a health crisis.

4. Avail Tax Benefits

When you pay the health insurance premium for your family and elderly parents, you are eligible for tax benefits on the premium paid under Section 80D of the Income Tax Act, 1961. Let’s take a detailed look here:

Who is eligible

Amount of premium paid for


Self/ family


Total Deductions

Individuals and parents below 60

INR 25,000

INR 25,000

INR 50,000

Individuals and family who are below 60 years, but whose parents are over 60

INR 25,000

INR 50,000

INR 75,000

Individuals as well as parents, are over 60

INR 50,000

INR 50,000

INR 1 Lakh

5. Additional Features that Prove Beneficial

Additional features like no claim bonus is given if there is no claim made in a policy year. Under this benefit, a NCB bonus of 20-50% can be accrued either as increase in the sum insured or a lower premium. However, with the senior parent added to the basic policy, the possibility of a claim is higher. 

Just like a family floater policy, a senior citizen's health cover also offers beneficial features such as annual health check-ups, automatic recharge of sum insured, and domiciliary hospitalisation etc. With these features, the elderly parents can ensure better healthcare services without worrying much about the expenses. 

With alternative treatment being added to the health insurance coverage, now senior citizens can make use of these benefits as per their choice.

It’s Your Turn Now!

Now that you know the importance of buying a separate health insurance for your senior citizen parents, the next step is to ensure the right coverage. In the hunt of a health insurance plan, you may become confused with the multiple options available in the market. 

Let us help you with exploring the Care senior health insurance plan from Care Health Insurance. The policy comes with multiple sum insured option with comprehensive coverage. Daily allowance, alternate treatment, automatic recharge, second expert opinion, organ donor expense cover etc. are some of the alluring features of this plan that you consider while looking to secure your parents health.

Besides, you can avail of the numerous in-built benefits, including in-patient hospitalisation, annual health check-ups, 540 day care procedure cover,  ambulance cover etc. For detail information you can visit the website or let our expert help you through the process. 

Disclaimer: Plan features, benefits, coverage, and underwriting of claims are subject to policy terms and conditions. Please refer to the brochure, sales prospectus, and policy documents carefully.

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