Insurance for Senior Citizens

The challenges older people face getting health insurance, the 2024 removal of age limits, Ayushman Bharat's extension to everyone over 70, and options for seniors.

Older people need health insurance most, but have often found it hardest to get.

Challenges

High premiums, rising with age.
Pre-existing conditions with waiting periods.
Co-payments and sub-limits.
In the past, upper age limits for buying new policies, often around 65.

2024 reforms

In April 2024, IRDAI removed the upper age limit for buying health insurance, requiring insurers to offer products for all ages.
Waiting periods for pre-existing conditions were capped at three years.

Ayushman Bharat for all over 70

In 2024, the government extended Ayushman Bharat PM-JAY to all citizens aged 70 and above, regardless of income, providing up to 5 lakh rupees a year of hospital cover per family for this group, through the Ayushman Vay Vandana card.

Options for seniors

Senior citizen health policies.
Top-up and super top-up plans.
Employer retiree plans, where available.
Government schemes.

Planning ahead

Buy health insurance young and keep renewing, since lifelong renewability is guaranteed.
Keep savings for costs insurance doesn’t cover, such as outpatient care and medicines.

The 72-year-old

A 72-year-old retired farmer with no insurance gets an Ayushman Vay Vandana card. When he needs heart surgery, the scheme covers the cost at an empanelled hospital.

Thinking seniors can't buy health insurance

Age limits were removed in 2024, and Ayushman Bharat covers everyone over 70.

Key takeaways

Seniors face high premiums and waiting periods.
IRDAI removed upper age limits for buying health insurance in 2024.
Ayushman Bharat was extended to all citizens aged 70 and above in 2024.
Buy early and renew, since renewability is lifelong.