Question 1

Can seniors buy health insurance after 60?

Accepted Answer

Yes. Many insurers offer senior citizen health plans with medical underwriting. Premiums are higher and waiting periods for PED apply.

Question 2

What is co-pay in senior health plans?

Accepted Answer

Co-pay means you pay a percentage of each approved claim (e.g. 10–20%). It reduces premium but increases out-of-pocket cost during hospitalisation.

Question 3

Is there a higher Section 80D limit for parents?

Accepted Answer

Under the old regime, premiums for senior citizen parents qualify for higher 80D limits than standard family cover. Check current IT rules for your regime.

Question 4

Should retirees buy term insurance?

Accepted Answer

Term insurance is most cost-effective when you have dependents and loans. Retirees with no income replacement need may rely on existing assets instead of new term cover.

Question 5

What is the Ayushman Bharat scheme?

Accepted Answer

PM-JAY provides cashless cover up to ₹5 lakh per family per year for eligible low-income households. It is separate from private senior health policies.

Senior Citizen Insurance Plans

Senior Citizen Insurance plans

Frequently Asked Questions