What is the minimum age required to buy Senior Citizen Plan?

Senior citizen health insurance policies are specifically designed health insurance plans which allow coverage for individuals who are at older ages. Where normal health insurance plans limit the entry age to 65 years, senior citizen health plans allow the entry age to be higher, going up to 75 years or 80 years. Moreover, coverage under these plans is also tailor-made to suit the coverage requirement of older individuals who face frequent medical issues and need a dedicated health plan for the same.

There are a range of senior citizen health insurance plans available in the market. Given the choice of plans available, many individuals don’t know about the minimum age for buying the plan. The minimum age under most senior citizen health insurance plans start from 60 years. Since senior citizens are those individuals who are aged 60 years and above, senior citizen plans fix the minimum entry age at 60 years. The maximum entry age, on the other hand, depends on different plans. Some plans allow the maximum entry age to be 70 years while others go up to 80 years. Then there are other plans where there is no upper limit on the entry age and individuals aged 60 years and above can buy these plans easily.

While in many senior citizen plans the minimum entry age is 60 years, there are other health insurance plans which double up as senior citizen plans. These plans have no restrictions on the entry and exit ages. Individuals of all ages can buy these, which therefore work both as normal health insurance plans as well as senior citizen health insurance plans since senior citizens can also buy the plan at whatever age they are in.

There are a few age-related aspects which you should keep in mind when buying senior citizen health insurance plans. These include the following –

  • Renewability allowed under senior citizen health insurance plans is lifelong. This means that there is no cover-ceasing age if the plan is renewed regularly.
  • The senior citizen might have to undergo pre-entrance medical check-ups before the policy is issued. Since senior citizen plans cover older individuals, health check-ups become necessary in some cases to gauge the health status of the individual buying the policy.
  • There would be a co-payment clause in the policy since the insured is aged 60 years and above. Under the co-payment clause, a part of the claim would have to be borne by the policyholder and the insurance company would bear the remaining part. The co-payment ratio usually ranges from 10% to 25% meaning that 10% to 25% of the claim is payable by the policyholder and the remainder is payable by the insurance company.

Senior citizen health insurance plans are ideal for senior citizens as these plans provide good scope of coverage at affordable premium rates. Do check the age criteria and other aspects before buying and then buy the plan for yourself or your dependent senior citizen parents.