|Insurance Company||Number of Retail + Group Lives Insured (as per IRDA) in 2017-18||Sum Insured Range||Unique Features of this plan|
|Apollo Munich Optima Restore
||34,30,454||₹ 3 lacs - ₹ 50 lacs||
|Star Health Family Health Optima Insurance Plan (Individual & Family)
||90,40,280||₹ 3 lacs - ₹ 25 lacs||
|HDFC Ergo M: health Suraksha
||23,83,045||₹ 3 lacs - ₹ 50 lacs||
|Bajaj Allianz Health Guard
||33,82,347||₹ 1.50 lacs - ₹ 50 lacs||
|Tata AIG Medicare Premier
||8,24,843||₹ 5 lacs - ₹ 50 lacs||
|New India Mediclaim Premier
||1,54,61,902||₹ 1 lacs - ₹ 100 lacs||
|Religare Health Religare Care
||26,17,865||₹ 4 lacs - ₹ 40 lacs||
|Max Bupa Health Premia
||14,44,887||₹ 10 lacs - ₹ 300 lacs||
|SBI General Arogya Premier
||51,88,252||₹ 0.50 lacs - ₹ 30 lacs||
|Royal Sundaram Lifeline
||10,81,248||₹ 2 lacs - ₹ 150 lacs||
|Reliance General HealthGain
||25,34,491||₹ 3 lacs - ₹ 18 lacs||
|Insurance Company + Name||Eligibility Criteria / Age||Sum Insured / Premium Options||Waiting Period for Pre-existing Diseases||Medical Check-up|
|Religare Health – Care Senior
||Individual: 61 years and above
Floater: 2 Adult (Self, Spouse, Father, Mother)
Entry Age Maximum : Lifelong
|3, 5, 7, 10 lacs||24 / 48 months depending on the ailments||No Pre Policy Medical Check up|
|Star Health - Senior Citizen Red Carpet Health Insurance Plan
||Any person between 60 and 75 years of age at the time of entry can take this insurance policy.||1,2, 3, 4, 5, 7.5, 10, 15, 20, 25 lacs||12 months||No pre-acceptance medical test required
However if following medical records of the person proposed for insurance are submitted, a discount of 10% of is allowed. - Stress Thallium Report - BP Report - Sugar (blood & urine) (Fasting / Postprandial) - Blood urea & creatinine
|Bajaj Allianz - Silver Health Plan for Senior Citizens
||This policy covers members up to from 46 to 70 years of age Renewal age upto 75 years||50, 000 - 5 lacs||12 months||Pre Policy Medical Check up required for this plan|
|Apollo Munich Health Insurance - Optima Senior
||Any person whose age is 61 years and above.
No Maximum Entry Age.
|2, 3, 5 lacs||24 / 36 months depending on the treatment required||Insured will be called for a medical check-up on the basis of your age, health declaration and cover opted for.|
|New India - Senior Citizen Mediclaim Policy
||60 - 80 years (renewable up to 90 years of age Lifelong Renewal||Two Options of 1, 1.50 lacs||18 months / 48 months for certain ailments||Persons opting for a policy for the first time have to undergo prescribed Pre Health check up from an empanelled doctor.|
|HDFC Ergo – Silver / Gold Plan
||Any person whose age is 61 years and above. No Maximum Entry Age. Lifelong Renewal||3, 4, 5, 7.5, 10, 15 lacs||48 months||Persons opting for a policy for the first time have to undergo a detailed prescribed Pre Health check up from an empanelled doctor in HDFC Ergo Network|
|Tata AIG - MediSenior Health Insurance
||Insureds of the age 61 and above
No Maximum Entry Age.
|1, 3, 5 lacs||24 / 48 months||PPC Required and to be done at Tata AIG Authorised centres.
50% reimbursement of cost after proposal acceptance
One needs to carry the following documents - Pre-policy medical check-up documents, Duly-filled proposal form, Supporting documents for any pre-existing condition, Age & Address proof.
This health policy entitles the proposer to avail tax exemption under section 80D of the Income Tax Act, 1961. You are eligible for an income tax rebate of ₹30,000 if you hold a mediclaim policy for senior citizens for your elderly parents. You can also avail am additional rebate of Rs. ₹5,000 for preventive health check-ups annually. As a parent who is a senior citizen who is the proposer, this rebate is as high as ₹50,000 per year.
As a person advances in age, the frequency and severity of illness (propensity of falling ill) increases as well. Most individuals in this age group have no regular source of income apart from the pension/investment income/savings. That is the reason, getting a health insurance at this point of time becomes all the more critical.
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