What Are Some Health Insurance Policies That Even Senior Citizens Can Sign Up For?



As you grow old, you will become more and more dependent on your family members. Moreover, as your health degrades, the medical expenses will increase alongside. Hence, it is mandatory to have appropriate health insurance in place. With a health plan, you no longer have to drain your savings to overcome any medical costs incurred after retirement. 

Most people tend to seek health plans when they are old and retired. It is noteworthy that health insurance plans for senior citizens come with hefty premiums. The primary reason behind this is the age, and many insurance providers associate it with the policy terms and conditions. 

Therefore, when you buy health insurance, certain factors need to be taken into consideration –

  • The age limit of the health plan
  • Waiting period for pre-existing medical conditions
  • Plan renewal age
  • Medical check-up before seeking insurance

Due to these factors, the availability of health policy for senior citizen in the market has become limited. In this article, we will be discussing a few health plans available in the market, especially for senior citizens.


  • Varishtha Mediclaim Policy


The Varishtha Mediclaim policy is a health insurance plan for senior citizens developed by the government. It is mainly for the people between the age range of 60 years and 80 years. The policy period of for one year but you can renew the plan up to the age of 90 years. 

Under this policy, you receive a sum assured of INR 1 lakh for hospitalisation and INR 2 lakh for critical illness cover. Some of the other features of this policy are as follows –

  • Medicinal and diagnose charges are covered under the sum assured
  • Emergency ambulance charges of up to INR 1000
  • Treatment for critical medical conditions is covered (only for up to a pre-defined amount)
  • 1/4th of the total sum guaranteed covers fees of surgeons, consultants, specialists, and other necessary medical practitioners
  • No waiting period of pre-existing medical issues
  • Post hospitalisation charges are covered for the age up to 60 years
  • Tax benefits



  • National Mediclaim Policy


The National Mediclaim policy is typically for people between the age range of 18 years and 65 years. However, the policy period is for only one year with a grace period of one month. It is quite relevant for senior citizens because it offers lifelong renewal benefits. The sum assured is somewhere between INR 50,000 and INR 5 lakh. Other features of National Mediclaim policy are as follows –

  • Covers for over 140 days of daycare
  • Emergency ambulance charges of up to INR 2000
  • Provides first 30 days of accidental coverage
  • The waiting period is four years for pre-existing medical issues
  • Sum assured can be increased during renewal but only up to INR 5 lakh. Also, the sum assured is increased by 5% under a claim-free year
  • Cashless medical insurance facilities across network hospitals
  • Tax benefits



  • Health Insurance Plans By Private Sector Insurance Providers


Most health policy providers in the private sector provide health insurance benefits for people of age 46 years and above. However, the exit age is 70 years with a cap of 75 years on renewal of the facility. The sum assured begin from INR 50,000 and usually goes up to INR 5 lakh. The premium amount is quite affordable, too – ranging between INR 1995 and INR 29,000 (depending on the senior citizen health insurance plan you have chosen).

To Conclude

Now we know that there are several health plans available for senior citizens, which are not only implemented by the government but also the private sector insurance companies. For people nearing their retirement age and still don’t have adequate health policy can certainly browse through the options explained above, and choose the plan that best suits your needs. On Finserv MARKETS you will find variety of Bajaj health insurance plans to suit your needs.