Buy Health Insurance Policy

Exclusive

Wellness Benefits

24*7 Claims

Support

Tax Savings

u/s 80D

9000+ Cashless Hospitals PAN India

Pincode

+91 Enter Mobile Number

Try agian later

I agree to the Terms & Conditions

Port My Policy

Download Policy

(Incl 18% GST)

6 Common Myths About Health Insurance for Senior Citizens

Whether you yourself are over 60, or you’re looking to take care of your ageing parents, a health insurance plan is a necessity these days. In these situations, you can opt for specialized health insurance for senior citizens.

As a person grows older, the chances of health risks are more likely to increase. Which means that they will need more care for illnesses, injuries, and other medical conditions. But unfortunately, there are many misconceptions involved with buying a senior citizen health insurance policy that prevents people from buying them.

Here are some of the myths and misconceptions about senior health insurance, and the reality behind them:

Team Digit

6 Myths About Senior Citizen Health Insurance

Myth 1: They are Healthy, So Why Do They Need a Health Insurance Cover?

As a senior citizen, you may feel fit and healthy, or if your parents might seem that way to you. Some people feel that if they aren’t healthy, there’s no need for health insurance. But this is a short-sighted view. Health insurance will help provide financial security in case of a health emergency.

Reality: When we grow older, we become more vulnerable to illnesses and injuries. You can never know when a medical emergency might occur, and with the rising medical costs, it is essential to get financial help in the form of health insurance.

Then they will be covered for medical expenses in case of illnesses, hospitalization, daycare procedures, and even get annual health check-ups and coverage for home hospitalization.

Myth 2: Personal Savings are Enough to Cover Health Expenses

Lots of people, especially those who are older and have built up some savings, believe that they don’t need to invest in a health insurance plan as these savings can help them in times of need.

Reality: When it comes to health care expenses, you never know what might happen and how much it will cost to keep yourself or your family members healthy. With medical inflation, these days a serious accident or health issue can end up costing you hundreds of thousands of rupees out-of-pocket, and end up wiping out a person’s savings. In such cases they will have nothing to fall back on afterwards.

And since health problems are usually unpredictable, you don’t want to be burdened with financial problems and debts, especially not while you are recovering from an illness.

Myth 3: A Family Floater Plan Will Offer Enough Coverage

A family floater health insurance is one that covers many members of the same family (including your spouse, children, and parents) under one policy. However, this also means that all the family members share the same fixed sum insured amount. This means that if something happens to more than one family member at the same time, a single sum insured may not be enough.

Reality: Since seniors tend to require more medical care, or have special needs, this limited coverage might not be enough for their needs. That is why they need a separate health insurance policy, as if you exceed the sum insured amount, you will end up paying out of your pocket for any treatment. So, to make sure that they get the best quality treatment, a senior citizen health insurance plan is a must.

Myth 4: They Are Covered Under My Group Mediclaim Policy by My Employer

While your parents can be covered under the group health insurance plans provided by your employer, the situation here is similar to a family floater plan. The benefit here is that senior citizen parents will not have to go through pre-medical check-ups before being insured.

Reality: A group health policy is also likely to have a fixed sum insured for both yourself and your dependents, and like the above point, if you exceed this sum insured amount, you will end up paying out of your own pocket. Additionally, this policy will only be valid for as long as you are part of the respective organization.

Myth 5: Senior Citizen Health Insurance Is Too Expensive

As we get older, we face a higher chance of mortality, hospitalization, and medical expenses. Due to this increased risk, health insurance premiums are likely to rise as well. So, you might notice that health insurance for senior citizens have premiums that are on the higher side.

Reality: If you compare different health insurance plans that are available, you will likely find one for seniors that fits your requirements and isn’t too expensive. And, it is always good to keep in mind that with health insurance, you are paying for expenses that you may incur in the future. Thus, it can help to provide the best medical care and treatment in the future.

Myth 6: Pre-Existing Diseases and Conditions Will Not Be Covered

A common misconception about health insurance, especially for senior citizens, is the belief that their pre-existing illness will not be covered under the plan. And because of this, many people avoid buying health insurance.

Reality: Most health insurance plans, including those for seniors, will cover individuals for pre-existing conditions. However, they might have a waiting period for these diseases. This means that you need to wait for a specific amount of time before you can make a claim for these treatments or diseases. After this waiting period is over, you can make a claim. Remember to go through your policy document carefully to know the waiting period for pre-existing diseases.

Conclusion

Now that you know the truth about these common myths about senior health insurance, you will be able to make a more informed decision when you start looking at policies. You also know that the need for senior health insurance is great, to ensure that you or your parents are covered against medical emergencies at all times.

When choosing a suitable senior citizen health insurance plan, just remember to check its inclusions and exclusions, waiting periods, and other benefits like add-ons or cashless hospitals, as well as the premium and co-payment. This way you will be able to find the policy that best suits your needs.

Frequently asked questions

All

Why is senior citizen health insurance important?

A health insurance is important as it can provide you with financial security and prevent you from having to pay massive medical costs out of your own pocket. It also ensures you get your required treatments done on time, especially with the added risk of illness that comes with age. Other benefits include:

Being able to stay financially independent.
Being able to save your funds and not losing your savings.
Covers your medical costs, even after retirement.

What is a senior citizen health insurance?

A Senior Health Insurance is designed to suit the needs of elderly people and financially covers them for medical expenses like hospitalization, medical treatments and critical illnesses, annual check-ups, accidents, and more.

When I'm looking for a senior citizen health insurance plan what should I look out for?

The best insurance plans for seniors aren’t the ones that have a low premium. Since they need more coverage than young people, try to pick a health insurance plan that gives you a cost effective premium and higher sum insured. In addition to that also keep in mind the following:

Ensure that your sum insured will be sufficient for an elderly person's needs.
Choose the plan with the minimum waiting period.
Always check what is covered and not covered in your health insurance policy, and try to opt for coverage like domiciliary treatment, and pre- and post-hospitalization expenses.
Check that the company has a fast claim settlement ratio and a wide range of network hospitals.
If you can, customize your health insurance plan, with add-ons like critical illness cover, AYUSH cover, etc.

Will I have to pay a higher premium for health insurance for senior citizens?

As we get older, with age, the risk of illnesses big and small increase due to the changes in our bodies and lifestyle. With this, our healthcare expenses too rise. Therefore, this results in health insurance premiums also increasing.

Can I buy term insurance without a medical test if I already have health insurance?

Not always. Even if you have health insurance, insurers may ask for a medical test for term insurance depending on age, amount insured, or your health history. Don’t assume one replaces the other; they have different rules.

If I already have health insurance, do I still need life insurance as a senior citizen?

Yes, as a senior citizen, life insurance is still useful. While health insurance covers medical costs, life insurance provides financial support to dependents, covers debts, and handles final expenses. It ensures peace of mind and helps in legacy planning, especially if your family relies on your income or savings.

Important Tips Related to Health Insurance

Health Tips for Women

How to Choose a Health Insurance Policy in India?

Right Age to Buy a Health Insurance Policy

Benefits of Group Health Insurance

Right Time to Buy a Health Insurance Policy

How to Choose the Best Health Policy for Senior Citizens?

Staying healthy during the quarantine

Risks of Not Buying a Health Insurance Plan

Factors That Affect Health Insurance Premium

How Does Age Affect Your Health Insurance Premium?

What Happens if You Don’t Renew Your Health Insurance Policy on Time

Common Mistakes to Avoid While Purchasing Health Insurance

Myths About Health Insurance for Senior Citizens

Why Do Women Need to Buy a Separate Health Insurance?

Important Terms to Know Before Buying Health Insurance

Role of Artificial Intelligence in Health Insurance

What to Check When Porting Your Health Insurance Policy?

Do's and Don'ts of Buying a Health Insurance Policy

Pros & Cons of Having Multiple Health Insurance Policies

Secure Your Savings by Investing in Health Insurance

Can You Renew Expired Health Insurance Policy Online?

Why Is Health Insurance Important for Low and Middle-Income Groups?

How to Increase Your Health Insurance Cover Without Paying a Higher Premium?

How to Review Health Insurance Policy Document?

Benefits of Upgrading Your Health Insurance Policy

Important Changes to Make in Your Health Insurance Plan After Marriage

What to do When Your Health Insurance Claim is Rejected?

Medical Inflation in India

What to Keep in Mind When Adding Your Children to Health Insurance?

How to Choose Between Long-Term and Short-Term Health Insurance?

Pros & Cons of Family Floater Health Insurance

Benefits of Porting Health Insurance Policy

More articles related to Health Insurance

Domiciliary Hospitalization Cover

Group COVID Insurance for SME's Industries & Companies | Digit

Health Insurance Tax Benefits for Senior Citizens

Mental Health Insurance

Air Ambulance Cover in Health Insurance

Benefits of Critical Illness Cover

Health Insurance Glossary India: Terminology, Terms and Definitions

Senior Citizen Health Insurance

GMC and GPA in Health Insurance Policy

Coinsurance vs Copay vs Deductible

Myths about Health Insurance

Increase of Health Insurance Premium on Renewal

What is ABHA Card

What is Health Insurance?

Difference between Mediclaim and Health Insurance

Copay in Health Insurance

Pre & Post Hospitalization Expenses in Health Insurance

Health Insurance with Cancer Cover

Health Insurance for Vector Borne Diseases & COVID-19 Online

Life Insurance vs Health Insurance

Health Insurance for Vector Borne Diseases & COVID-19 Online

Indemnity Health Insurance

Health Insurance Plans for Family

Cooling-off Period in Health Insurance

Add-Ons in Health Insurance Policy

Consumables Cover in Health Insurance

Waiting Period vs Survival Period in Health Insurance

TPA in Health Insurance

Types of Health Insurance Plans

Health Insurance for Parents

Reimbursement Claims in Health Insurance

What to do if you are tested Positive for COVID-19?

Health Insurance Non-Medical Expenses

Critical Illness Health Insurance Cover

Grace Period in Health Insurance

Waiting Period in Health Insurance

Road Ambulance Health Insurance

Nominee in Health Insurance

Health Tips & Guides

Anywhere Cashless Hospitals - Hassle Free Hospitalization Anywhere in India

Day Care Treatment in Health Insurance

Health Insurance Premium Calculator

Health Insurance for Disabled Person

Yoga Asanas & Exercises for Better Lifestyle

Is Dental Covered in Health Insurance?

Zone Based Health Insurance in India

Health Insurance for Government Employees

Health Insurance for Smokers

Restoration Benefit in Health Insurance

Check Health Claim Status Online Instantly

Comprehensive Health Insurance

Compare Health Insurance

Coronavirus Cover: Health Insurance for Coronavirus Treatment

Healthy Lifestyle

Health Insurance for Self Employed/Freelancer

Types of Health Insurance Claims

Benefits of Health Insurance

Reason to Buy Seperate Health Insurance for Parents

Daily Hospital Cash Benefit in Health Insurance

Health Insurance on EMI

Health Insurance for Mother

PED in Health Insurance

Cashless Health Insurance

How to Port Health Insurance?

Health Insurance Tips

Moratorium Underwriting vs Full Medical Underwriting

Government Insurance Schemes

Loading in Health Insurance

AYUSH Health Insurance Benefits

Health Insurance Tax Benefits

Super Top-up Health Insurance for Employees Retiring Soon

Personal Accident Insurance

Super Top-up Health Insurance for Senior Citizens in India - Check Prices

Sum Insured in Health Insurance

What is Long-term Health Insurance? Features & Benefits Explained

Individual Health Insurance

Term Insurance vs Health Insurance

Health Insurance for Diabetes Patients

Corona Kavach Policy: Buy COVID Kavach Health Insurance Online

File Health Claims Online on Digit App

Health Insurance After Retirement

Organ Transplant Cover in Health Insurance

List of Excluded Hospitals

Family Floater vs Individual Health Insurance

How to Choose the Right Sum Insured in Health Insurance?

Room Rent Capping in Health Insurance

How to Reduce your Health Insurance Premium?

Check Digit Health Insurance Claims Status on Digit App

Family Floater Health Insurance

Cumulative Bonus in Health Insurance

Download your Health e-Card

Wellness Benefits with Digit Health Insurance

City

Inpatient vs Outpatient Hospitalisation

Health Insurance with Free Medical Check Up

Deductible in Health Insurance

List of Excluded Hospitals

Maternity Health Insurance

Indemnity Based vs Fixed Benefits Health Insurance

Maternity Coverage with No Waiting Period

GHC

Health Insurance Bariatric Surgery Cover

Super Top up Health Insurance

Cataract Health Insurance

Best Health Insurance Policy

Corona Rakshak Policy Online: Health Insurance for COVID-19 in India

Arogya Sanjeevani Policy

Health Insurance OPD Cover

Coronavirus Health Insurance: COVID-19 Insurance Policy in India

Government Health Insurance Scheme

Health Insurance for NRI Parents

Exclusions in Health Insurance

Sub Limit in Health Insurance

Health Insurance for Disabled & HIV/AIDS Patients: Check Coverage and Benefits

Terminal Illness vs Critical Illness

Health Insurance Plan that Covers Infertility Treatments

Health Insurance Options for Retirees

Check Pending Challan only on Digit App

Install

Check Pending Challan only on Digit App

Latest News

Currently there are no news to show.

Renew & Download Policy Document, Check Challan, Credit Score, PUC & more

60K+ Reviews

4.8

Rated App

60K+ Reviews

12K+ Reviews

4.3

Rated App

12K+ Reviews

Download the App

CIN: L66010PN2016PLC167410, IRDAI Reg. No. 158.

Go Digit General Insurance Limited | Corporate Office Address: Atlantis, 95, 4th B Cross Road, Koramangala Industrial Layout, 5th Block, Bengaluru 560095 | Registered Office Address: 1 to 6 floors, Ananta One (AR One), Pride Hotel Lane, Narveer Tanaji Wadi, Shivaji Nagar, Pune-411005, Maharashtra | Trade logo of Go Digit General Insurance Ltd. displayed above belongs to Go Digit lnfoworks Services Private Limited and is provided and used by Go Digit General Insurance Ltd. under license.