6 key points to check before buying health insurance for senior citizens

When it comes to financial planning for senior citizens, health insurance can be a crucial factor. With age, the need for immediate medical attention and healthcare services increases. The right health insurance can prove vital towards ensuring the well-being of senior citizens and managing their healthcare costs effectively. Here are some key points to consider before purchasing health insurance policies for senior citizens:

Coverage and benefits

When selecting health insurance for senior citizens, the first thing to consider is the comprehensiveness of the coverage. Look for policies that cover a wide range of medical expenses, including hospitalisation, doctor consultations, diagnostic tests, medicines, and surgical procedures. You can also look for a plan that offers comprehensive coverage not just for the senior citizens in your family but for every family member.


Health insurance premiums tend to increase with age. It is necessary to find a balance between comprehensive coverage and affordability. Consider the budget you have allocated for health insurance and choose a plan that fits your budget. While senior citizens require comprehensive coverage, you must also consider the financial aspect of the premium payments. Bajaj Finance Limited offers health insurance policies through its partners, where you can find affordable health insurance plans for your family and senior citizens.

Pre-existing conditions and waiting periods

Many senior citizens have pre-existing medical conditions that require continuous care. Review your health insurance policy's terms on pre-existing conditions and the associated waiting periods. Some policies may have shorter waiting periods or even waive them off if you transfer health insurance to another insurance provider. So, you need to consider pre-existing conditions and waiting periods when planning to buy health insurance for parents, especially those above 60 years of age

Renewability and lifetime coverage

You should ideally choose a health insurance policy that offers lifetime renewability. Some insurers may impose age limits on policy renewals, which can be a concern for senior citizens. Lifetime renewability ensures that your loved ones have uninterrupted access to healthcare, even as they age and their medical needs increase.

Network hospitals and cashless facilities

Having access to a broad network of hospitals with cashless facilities is essential, especially for senior citizens. It ensures that they can get immediate medical attention without worrying about the financial aspect. For example, health insurance companies partnered with Bajaj Finance Limited have a wide network of hospitals that offer cashless treatment and easy cashless claim settlement process. You only need to contact the insurance desk at the network hospital, and the rest will be taken care by the insurance company.

Claim settlement ratio and customer service

Lastly, assess the insurer's claim settlement ratio and customer service. A high claim settlement ratio reflects the insurer's reliability in processing and settling claims efficiently. Additionally, the ease of reaching customer service and their responsiveness are crucial factors when dealing with health insurance matters.

Choosing the right Mediclaim policy requires careful consideration of their specific needs and circumstances. With the right health insurance plan in place, you can provide peace of mind and the best possible care for your family. You can look for suitable health insurance policies at Bajaj Finance Insurance Mall. Bajaj Finance partners with leading insurance providers that offer various policies from which you can select the one that suits your budget and requirements.