Senior Citizens Health Insurance Options

by Manshu on August 6, 2012

in Insurance

For this week’s senior citizen’s post I chose health insurance for senior citizens, and I got the idea for the post from this comment on the Suggest a Topic page.

R.Ganesan August 4, 2012 at 3:45 pm [edit]

Dear Manshu,
I am reaching Sixty and my wife’s age is little less than this. We are finding it very difficult to get health insurance coverage. I approached two companies one in private and the other in public sector. Both have declined my requests. What exactly is the reason for this indifference to the elderly population. Can you suggest me a way out.

I just happened to chance upon a post from Manikaran Singal shortly after I read the comment and he has done a good job of listing down the options for health insurance for parents.

I then browsed through reviews of the options listed in his post, and got a general impression (perhaps wrong?) that nationalized companies are easier to deal with when the time actually comes to get the claim.

United India Insurance is a nationalized insurance company that has a health plan for senior citizens so I decided to browse through the documentation available for this plan.

Here are some key things I found about this senior citizen insurance plan, and I don’t know if these are common terms for other senior citizen plans or not since this is the first one I’ve ever looked at so please leave comments to share your experience.

  • You have to be a minimum of 61 years of age, and a maximum of 80 years of age to get this policy.
  • The sum insured can be between Rs. 1 lakh and Rs. 3 lakhs.
  • For a sum insured of Rs. 3 lakhs, the premium is Rs. 9,900 for 61 – 65 years, 12,250 for 66 – 70 years, Rs. 14,050 for 71 – 75 years and Rs. 17,300 for 76 – 80 years.
  • The room, boarding and nursing expense is limited to less than 1% of sum insured per day.
  • ICU expenses are limited to less than 2% of sum insured per day.
  • Pre and post hospitalization expenses are subject to a limit of 10% of the sum insured.
  • Pre – existing conditions will not be covered till 48 months of when you get the policy.

There are two documents that detail out the list of exclusions and also how much will be paid in a lot of scenarios and I think they serve as a very good guideline of not only what you get in this plan, but the questions you should ask if you are looking at another plan.

Here are the three documents related to this plan:

Other than this, I found one more article that has a list of some senior health plans in addition to what Mani has listed, and MediManage has an article on health insurance of seniors above 70 years of age that they did earlier this year which I found useful too.

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