*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
When it comes to buying health insurance for senior citizens, the decision requires a thorough research and considerations of many things. Among plenty of health insurance providers promoting their products to be the best one, it can be quite difficult for one to choose the best option. However, it goes without saying that some insurers have marked their presence through their services throughout, which make them a reliable option in the market. One such insurer is Star Health & Allied Insurance Company. And senior citizen plan from the insurer is worth your money indeed!
There has been a terrifying increase in healthcare costs recently. As the age of a person increases, the healthcare issues also escalate. Frequent hospital visits can be a burden on their pocket, especially when one retires. These medical expenses put their retirement savings at a stake.
Health insurance in today's age is a necessity. But the senior citizens do not opt for investing in the health insurance plans because they fear that these plans will be very costly, and they will lose all their hard-earned money. They may not be wrong in their part, but at the same time, paying a health insurance premium is always better than paying expensive medical bills. Senior Citizens should thus search for the best health insurance in India and should invest in good health insurance plans for a secured future and good health.
Star Health Insurance offers the most affordable and comprehensive health insurance plans in India for senior citizens. One of its famous product is Red Carpet Health Insurance Policy, a recommended health insurance plans for senior people who are at their 60s to 75 years. This policy is available on an individual as well as a floater basis. The coverage of the policy has a lifetime extension. However, the policy does not have any carryover advantage for the sum insured if the policy issue is for more than a year.
Senior citizen health plans have their limitations, such as high premiums, extensive medical tests, and a lot of exclusions in the policies. There are so many criteria to be looked into before choosing a good health insurance plan, such as:
Hence, it becomes imperative to compare the best health insurance plans in India so that the senior citizens can choose a good health insurance plan.
Red Carpet Plan offered by Star Health Insurance can be considered as one of the preferable insurance options in the market. Let us discuss why this plan is suitable for senior citizens:
The senior citizens' Red Carpet Health Insurance Policy from the Star health insurance is a plan designed for senior citizens in India aged 60 years and above. It is a complete health insurance policy that offers many benefits, such as coverage for medical expenses due to sickness, accidental injury, pre and post-hospitalisation expense cover, OPD consultation, health check-up cost etc.
The policy comes with some of the unique features that make the policy worth buying. Some of them are:
Inclusions of the plan are as follows –
Exclusions of the plan are as follows –
The eligible age of entry for senior citizens is between 60 to 75 years of age. Available on individual and family floater basis, the policy tenure is of 1/2/3 years.
The below table shows the benefits structure under this plan:
Features/Plan |
Red Carpet |
Rent of the room |
10 lacs - 1% of (max Rs 6000), 15 lacs - Rs 7000, 20 lacs – Rs 8500, 25 lacs – Rs 10000 |
Charges for ICU |
2% of up to 10 lakh and 15 lakh; 20 lakh, 25 lakh - Actual |
Pre and Post Hospitalization |
Pre-hospitalization - 30 days, post hospitalisation - maximum up to Rs. 10000 (depends on ) |
Day Care Procedure |
All |
Free Health Check-up |
Available |
OPD Benefit |
Rs 200 per consultation, max up to Rs 2600 (depends on ) |
Ambulance Cover |
Max up to Rs 3000 (depends on ) |
Co-Pay |
50% on all PED claims, 30% on all non-PED claims |
Initial Waiting Period |
30 days |
Waiting Period for Specific Illness |
2 years |
PED Waiting Period |
1 year |
Savings |
A 10% savings on the premium as well as no medical screening at the time of buying of the policy and premium table does not increase with the increase in age |
*Paisawiki does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Ans. The following few points are to be noted before availing health insurance for the senior citizens-
Ans. Health tends to deteriorate at a faster rate with increasing age. In contrast, the income tends to decrease as we near the age of retirement. Health insurance enables senior citizens to bear the cost of increasing medical expenses during this stage of their life.
Ans. Yes. While buying health insurance for senior citizens, the policyholder's age matters a lot, and the policy comes at a higher premium.
Ans. In case of a health plan for senior citizens above the age of 60, medical tests are necessary to disclose the policyholder's medical condition for the assessment of insurance requirements. However, medical tests are not required for individuals below 45 years of age.