Health Insurance Schemes


One of the core needs of senior citizens is the growing medical attention they require with increasing age. There are not many private health insurance companies who are willing to take on insurance for those above the age of 60-65 years. The Insurance Regulatory Development Authority (IRDA) in May 2009 issued instructions regarding Health Insurance for Senior Citizens to CEOs of all General Health Insurance Companies which among other things includes:

  • Allowing entry into a health insurance scheme till 65 years of age
  • Transparency in the premium charged
  • Reasons to be recorded for denial of any proposals etc. on all health insurance products catering to the needs of senior citizens. Likewise the insurance companies cannot deny renewability without specific reasons.

    RASHTRIYA SWASTHYA BIMA YOJANA (RSBY) aims to facilitate launching of health insurance projects in all the districts of the States in a phased manner for BPL workers. Unorganized sector workers belonging to BPL category and their family members (a family unit of five) shall be the beneficiaries under the scheme. Total sum insured would be Rs. 30,000 per family per annum on a family floater basis. The beneficiary would pay Rs. 30 per annum as registration/renewal fee. The beneficiaries will be issued Smart Cards for the purpose of identification. The Policy provides cashless coverage for hospitalization expenses, taking care of most common illnesses with as few exclusions as possible. Transportation costs are also covered, within an overall limit of Rs.1000.
    VARISHTHA MEDICLAIM FOR SENIOR CITIZENS is designed to cater to the needs of senior citizens. It covers Hospitalization and Domiciliary Hospitalization expenses, as well as, expenses for treatment of Critical Illnesses. Diseases covered under critical illnesses are: Coronary Artery Surgery, Cancer, Renal Failure, Stroke, Multiple Sclerosis, Major Organ Transplants, Paralysis and blindness at extra premium.

    HOPE - HEALTH OF PRIVILEGED ELDER is offered by Oriental Insurance Company Ltd. It covers all Indian citizens above 60 years. Hospitalization due to 10 specified diseases and accident is covered in the policy. This means majority of the diseases that the senior citizens are susceptible to remains covered under the policy. The sum insured of Rs. 1 lakh to Rs. 5 lakh can be opted for.

    JAN AROGYA BIMA POLICY is meant for the larger segment of the population who cannot afford the high cost of medical treatment. The policy is available to individuals and family members. The limit of cover per person is Rs. 5,000 per annum. The cover provides for reimbursement of medical expenses incurred by an individual towards hospitalization/domiciliary hospitalization for any illness, injury or disease contracted or sustained during the period of insurance.