Which Health Insurance Plan Comes with the Lowest Premium for Senior Citizens?

A health insurance plan is elementary for senior citizens as they are more prone to illnesses than their young counterparts. It will help take care of their medical expenses should they face a medical emergency during their ‘Golden Days’. Nowadays, there are several plans in the market and each has a different offer. But you just need a health insurance plan that can come in your budget and provides you with sufficient coverage as per your needs. Considering that, we have brought to you a list of senior citizen health insurance plans with the lowest premium. So, read this page further and know about them in detail.

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List of Senior Citizen Health Insurance Plans with Low Premium

The following are the senior citizen health insurance plans that provide coverage against necessary medical expenses at an affordable premium payable annually.

Star Health Senior Citizens Red Carpet Health Insurance Policy

This health insurance plan is for people aged between 60 and 75 years. Check out the table below to know the premium rates applicable to the Star Health Senior Citizens Red Carpet Health Insurance Policy.

For Individual Plan (1 Adult)

For Floater Plan (2 Adult – Self + Spouse)

Note: The above premium amount is exclusive of tax.

You can pay your premium quarterly, half-yearly, yearly, biennial (once in 2 years) and triennial (once in 3 years). For installment mode of payment, the following loadings shall apply:

• 3% for quarterly
• 2% for half-yearly

You don’t need to undergo any medical screening to purchase Star Health Senior Citizens Red Carpet Health Insurance Policy. However, the insurer shall provide you a discount of 10% if you submit the following medical records:

• Stress Thallium Report
• BP Report
• Sugar (blood & urine) – Fasting/Postprandial
• Blood urea and creatinine

The tests are valid if they are taken within 45 days before the date of the proposal. You can avail of this discount at the time of proposal, renewal, or all subsequent renewals if the policy is renewed continuously. In the case of a floater plan, both you and your spouse need to submit these medical reports to avail of the discount.

Note: The insurer may ask you to undergo a medical examination in case you have an adverse medical history. And the insurer shall cover the entire cost of such medical examination.

HDFC ERGO OptimaSENIOR

You’ll get coverage under the HDFC ERGO OptimaSENIOR Plan if your age is 61 years and above. There is no maximum age limit under this senior citizen plan. The premium rates are as follows:

Note – The premium will remain the same for the policy period as mentioned in the policy schedule. It will change at the time of renewal due to the change in your age or applicable tax rate.

Aditya Birla Activ Care – Classic

Under this health insurance plan, people aged between 55 to 80 years are covered and the premium amount starts from INR 28,373 per year. You can get a 5% family discount on the premium amount if you opt for an individual sum insured for 2 members (self + spouse). Get a 7.5% discount on your policy by opting for a term of 2 years.

If you pay the premium on an installment basis such as Half Yearly, Quarterly or Monthly, the following Conditions shall apply:

• No interest shall be charged if the premium isn’t paid on the due date
• A grace period of 15 days will be provided for the due installment
• No coverage is available during the grace period
• If you don’t pay the premium during the grace period, the policy terminates.In case of a claim, all subsequent premium installments shall become due and payable
• The company has the right to recover and deduct the pending installments from the claim amount.

Bajaj Allianz Silver Health Insurance Plan

The entry age under Bajaj Allianz Silver Health Insurance Plan is 46 to 70 years and the premium amount is as follows:

Note: The above-mentioned premiums are exclusive of GST.

Max Senior First

Max Senior First Plan is available to persons aged between 61 to 75 years and the premium for 1st year is INR 100 per insured member. You can purchase the policy on an individual or family floater basis. If you opt for the family floater, 2 adults (Self & Spouse) can be covered under this policy and you’ll get a family discount of 10% on the premium amount. Max Senior First comes in two variants –

• Gold – Sum Insured options – INR 5 or 10 Lakh
• Platinum – Sum Insured options – INR 5, 10, 15, 20 and 25 Lakh

You’ll get a discount of 7.5% on the second-year premium if you pay the 2 years premium in advance. And if you opt for the 3-year policy term, you’ll get a 15% discount on the third-year premium. Get an additional discount of 2.5% on your premium payment by opting for the standing instruction service for auto-debit. This discount is applicable on renewal premium only.