Health Insurance for Senior Citizens – Comparison Chart of Policies

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Comparison of Health Insurance Products

The Indian health insurance market for senior citizens has grown and there are many companies that offer policies. All the policies have their plus and minus points. Before deciding to buy a policy you should know what you want from your insurance cover. Discuss it with your friends and families, do some reading yourself before making the commitment. Whatever the outcome, taking a policy for health is a great investment for elderly; though the premiums to be paid maybe a higher than normal.

A medical insurance for senior citizens provides such individuals with financial benefits besides offering monetary help in case of unforeseen medical emergencies. A health insurance policy empowers an elderly person to go for health check-ups, financial help during emergency health problems as well as long-term medical treatment. The policyholder enjoys tax benefits for premiums up to a certain level under Section 80D of the Income Tax Act. A good number of insurance companies in India are trying to overcome the challenges concerning the senior citizens.

Health Insurance for Senior Citizens - Comparison Chart of Policies

Comparative Premium rates of Insurance Companies offering Insurance policies for Senior Citizens

Premium Comparative Rate Chart for Senior Citizens:
Age Bajaj Allianz National Insurance Oriental Insurance Star Health The New India United India
  1 Lakh 2 Lakh 1 Lakh 2 Lakh 1 Lakh 2 Lakh 1 Lakh 2 Lakh 1 Lakh 2 Lakh 1 Lakh 2 Lakh
61-65 7170 11203 4180 6187* 4500 8700 4450 8455 3850 5720 - -
66-70 10755 16805 5196 7326* 4800 9100 4450 8455 4250 6310 - -
71-75     5568 7768* 5700 11400     4700 6980 - -
76-80     6890 9178* 6100 12000     5150 7650 - -
Above 80     - - 6400 12600         - -
Note: These rates are without service tax, extra premium & loading etc. Service tax extra, new Entrance loading extra, additional premium are extra subject to Insurance company.

*Premium for 2 Lakhs with critical Illness benefit.

When deciding on a policy one should look at certain parameters and these include

Salient features

Scope of Cover / Benefits

Premium Rates / Chart

Terms & Conditions


We have compared four popular policies and highlighted what we think are good and bad points in each policy.

[Note: Cells highlighted in Red gives negative aspects and the Blue gives positive aspects of the policy]
  Bajaj Silver Age 55 yrs. onwards National Varishtha Age 60 yrs. and above Star Red Carpet Age 60 to 69 yrs. Star Medi Classic Age 2 to 80 yrs.
Special Feature No Major Sub-Limits in this policy Blood Pressure and Diabetes Patients can be covered from inception with a loading of 10%. No Medical Test Instant Issuance For Age 60-69 Lowest Cost Wide SI (Sum Insured) Options
Maximum Entry Age 70 Years 70 Years 69 Years 75 Years
Maximum Exit Age 75 Years 90 Years Life Long 80 Years
Pre-existing Covered after 1st Year for 50% of Sum Assured 1st Claim Free Year 2nd Year with 50% Co-payment 4 years
Co-Payment No 10% on all claims.
• 20% on all claims with pre-existing diseases.
30% on all Claims50% on Pre-existing from 2nd year • 61 to 65 Years – 20%
• 66 to 70 Years – 30%
• 71 to 80 Years – 40%
Non Network Hospital Treatment rules 20% Co-Payment Can be carried out Can be carried out Can be carried out
Room Rent Limit per day No Room Rent Limit 1% of Sum Assured 1% of Sum Assured 2% of Sum Assured up to Rs. 4000/-
Cataract Limit No Limit Rs. 10000/- Rs. 15000/- Rs. 12000/-
Sub-Limits for the highest Sum Insured Lifetime Indemnity Limit of 3 times the Coverage Benign Prostrate: Rs. 20000/- Heart: Rs. 150000/-
• Bones: Rs. 150000/-
• Renal: Rs. 150000/-
• Major Surgeries: Rs. 120000/-
• 61 to 65 Years–CVD restricted to 50% of SI
• 66 to 70 Years - CVD and CVA restricted to 50% of SI Breakage of bones
• 71 to 80 Years–
• Breakage of bones
• Lung Diseases/ Infections
Special Exclusions Joint Replacement Surgery Excluded for 4 Years      
Family Discount 5% NIL NIL NIL
Medical Tests Required General Medical Exam, Fasting Blood Sugar, Urine exam for Albumin/Sugar, ECG & Cardiac Evaluation Report Blood/Urine Sugar, Blood Pressure, Echo-cardiogram and eye check up including radioscopy. NO MEDICAL TESTS General Medical Exam, Fasting Blood Sugar, Urine exam for Albumin/Sugar, ECG & Cardiac tests
How easy it is to get this policy Very stringent Medical Tests Screening. Close to 60% of proposals submitted have been rejected Policy issuance is not a problem, but the coverage offered is too low. No Issues No Issues. Policies are issued with ample restrictions
Premium for Age 65 Rs. 1 Lakh Cover Rs. 8056 Rs. 5166 Rs. 5000 Rs. 3372

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I am 67 yrs and my Wife 64 Yrs. I am planning to take National's Varishta Policy. But Officials of National Ins. Co. told me they cannot consider my request to cover me for Critical Illness since I am over 65 years age., but they can give coverage only for my wife since she is below 64 yrs. I want to know whether their statement is correct or really I am eligible to get coverage for critical illness also though I am 67 years old. Expecting an arly reply...........Balachandran V Alappuzha
bcmenon Saturday, March 14, 2015
i suggest you religare care freedom its non medical unique plan its best plan for senior citizen.
saggy Tuesday, September 29, 2015
I am 72 year old. I wish to take health insurance for Rs.2 lakhs. For this Star Insurance premium is about Rs.10000.00, National Insurance [Varista] is Rs.7680.00 and New India is Rs.6980.00. Which do you suggest for me to go for?
KVBhat Wednesday, October 15, 2014
sir! I m 63 yrs. old and having Type 2 D.M. since 2007. My fasting sugar is 133 and pp is 147. I don't have hypertension. I m interested in health insurance policy. Please guide me
Deepmanjiri Sunday, September 07, 2014
I am having a mediclaim policy in NATIONAL INSURANCE. Now i intend to switch to ORIENTAL INSURANCE. Do i have to go through all the medical check ups done last time or i can use NATIONAL INSURANCE health reference?
chattopadhyay Wednesday, March 05, 2014
Hi I need to confirm that my father is having pre existing disease will it cover in star senior citzen policy
vishalkod Tuesday, February 18, 2014
Check your policy document whether your father's pre-existing disease is shown by your agent or not. Even if you show it, you will get the claim after 2 years for such illnesses.
Guest Friday, August 01, 2014
it is great article and it is helpful to every one.Thank you
mahesh01 Tuesday, February 04, 2014
Iam lymphoma patient[cancer] and completed six cycle of chemotherapy and have individual mediclaim policy in oriental insurance I want to know post hospitalization period for cancer patient. Is period count from last chemotherapy ?
Taru02 Wednesday, October 17, 2012
I want to know that if I have existing policy for senior citizen worth 1.5 lacs and now I take a new Star Red Carpet policy for 2 lacs then will my hospital room rent be equal to 3500/day [1% of 2 lacs 1.5 lacs] or it will be only 2000/day (1% of max of 1.5 0r 2 lacs)
visjay Friday, June 29, 2012
I like the valuable data you provide inside your articles. I’ll bookmark your own weblog and check once again here frequently. I’m very sure I’ll learn numerous new stuff the following! Best of luck for the next!
chandaniel Saturday, January 07, 2012
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