Should Senior Citizens opt for Health Insurance Plans?

Should Senior Citizens opt for Health Insurance Plans?


With rising incidence of diseases and illnesses and escalating cost of treatment, individuals, particularly senior citizens, are exposed to great risk both health-wise and financially. They need to take urgent steps to safeguard their health and finances. One way to achieve this is by taking health insurance.

Rising medical costs are a constant threat to just about every individual, but it is a bigger problem for senior citizens, who do not have a health cover. The problem is compounded by the fact that senior citizens are exposed to higher incidence of diseases and critical illnesses.

Take heart surgery for instance, which costs approximately Rs 2 lakhs today.

Assuming 5% inflation in medical cost, this should go higher than Rs 322,000 after 5 years.

After 10 years, it will be higher than Rs 518,000.

After 15 years, it will be higher than Rs 835,000.

If the senior citizen hasn’t saved this kind of money, he would be forced to dip into his savings and investments or worse borrow money.

Senior citizens’ health insurance

One way to provide for medical emergencies is by taking a health insurance plan from an insurance company. Contrary to general perception, health insurance or mediclaim policies for senior citizens is a reality.

Contrary to general perception, health insurance or mediclaim policy in india for senior citizens is a reality.

Many insurers, particularly in the public sector, offer health insurance for senior citizens between the 60-80 years category.

Certain insurers offer health insurance policies with no maximum entry age. Unlike other policies targeted at senior citizens, these policies are for all individuals, including senior citizens.

The renewal age of the senior citizens’ health insurance policy can go as high as 80 years. So a senior citizen who has taken health insurance at the age of 65 years can renew his policy upto age 80 years. The renewal age limit varies across insurers so it’s best to check details before selecting a health insurance plan.

Health insurance plans for senior citizens are particularly helpful as they cover related medical treatment costs like:


For senior citizens or for that matter for individuals of all age profiles, getting health insurance is a must. If they haven’t done so already, it’s never too late.

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Category : Family Health Insurance

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