Confused about the best medical insurance for my senior parents?

Ans: Hi, specifically for Star Insurance, below are the two senior citizen plans that you can look for:
• Star Assure Plan
• Star Senior Citizen Red Carpet Plan

Other plans that you can look at for senior citizens are listed below:
• Niva Bupa senior first with 0% co-payment
• Manipal Cigna Prime Senior with 0% co-payment

Ensure that you understand all facets of the insurance plan that you enlist for.

Ans: Several insurance companies offer health insurance policies specifically designed for senior citizens. Some of these companies include:

1. Star Health and Allied Insurance: They offer various health insurance plans specifically for senior citizens with comprehensive coverage and benefits tailored to their needs.

2. New India Assurance: They have health insurance policies catering to senior citizens, providing coverage for medical expenses, hospitalisation, and more.

3. National Insurance Company: They offer health insurance plans with coverage options suitable for senior citizens, including pre-existing disease coverage and other benefits.

4. United India Insurance: They provide health insurance policies for senior citizens with features like cashless hospitalisation, pre-existing disease coverage, and more.

5. Religare Health Insurance: They offer health insurance plans specially designed for senior citizens, providing coverage for hospitalisation expenses, pre-existing diseases, and other medical needs.

6. Bajaj Allianz: They have health insurance policies tailored for senior citizens, offering coverage for hospitalisation, medical expenses, and other related costs.

7. Max Bupa Health Insurance: They offer health insurance plans with specific coverage options for senior citizens, including comprehensive coverage for various medical expenses.

Before choosing a policy, it's essential to compare the features, coverage, premiums, and exclusions of different plans to find the one that best suits your needs and budget. Additionally, consider factors such as network hospitals, claim settlement ratio, and customer service quality when selecting an insurance company.

Ans: I understand you're looking for a good health insurance plan for you and your wife. That's a smart decision, especially considering your health conditions. Let's break it down to help you choose the best option:

Understanding Pre-existing Conditions:

Your existing health conditions (BP, spondylitis, etc.) are called pre-existing conditions. These might affect your policy options and premiums.
Individual vs. Family Plan:

Family plan: Covers you and your wife together under one plan. It can be cheaper, but coverage limits get shared.
Individual plans: Separate plans for each of you. More flexibility, but might cost slightly more overall.
Considering Your Needs:

Pre-existing condition coverage: Look for plans that cover pre-existing conditions after a waiting period (if any).
Hospitalization coverage: Choose a plan with sufficient coverage for hospitalization expenses.
Medicines: Check if the plan covers medicines you take regularly.
Finding the Right Plan:

Talk to a CFP professional: A Certified Financial Planner can assess your needs and recommend suitable plans from different insurers.
Compare plans online: Many insurance companies offer online plan comparisons. Look for plans that cover pre-existing conditions and have good network hospitals in your area.
Here's a quick tip: Since your wife is younger and has a different health profile, individual plans might be better. This allows you to get customized coverage based on your specific needs.

Remember: Don't hesitate to ask questions! Choosing the right health insurance is important, and a CFP professional can guide you through the process.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ans: Health insurance is hence important for senior citizens. Medical costs increase with rising age. Insurance helps in controlling the increasing expenses.

Some Features to Look for in a Policy
While selecting a health insurance policy for seniors, look out for the following features in it:

No Co-Payment: Ensure that the policy does not have any co-payment clauses. This ensures that the insurer will bear the entire amount of the claim.

No Deductibles: A policy with no deductibles is preferable. The insurer will pay right from the first rupee.
No Sub-Limits: Avoid policies having sub-limits for treatments or room rent. This will ensure that the policy provides complete coverage.
Available Options
Many insurers have products designed specifically for seniors. Here are some of the features these products could have:

High Sum Insured: Go for a policy that offers a sufficiently high sum insured. Medical treatments are expensive propositions.
Cashless Hospitalization: Pick policies which provide cashless treatment at a maximum number of hospitals. This relieves the financial strain during emergencies.
Pre-Existing Disease Coverage: Check that the policy covers pre-existing diseases after some waiting period.
Annual Health Check-Ups: Some policies offer annual health check-ups. This helps in early detection of health problems.
Domiciliary Hospitalization: Check whether the policy covers home treatment in case hospitalization is not possible.
Recommended Policies
Though no specific recommendations are given, take policies from reputed insurers. Here are some aspects to check:

Claim Settlement Ratio: High settlement ratios indicate reliable insurers.
Customer Service: It is essential and facilitates the smooth processing of claims.
Renewability Age: Some policies provide for lifetime renewability. This is vital for senior citizens.
No-Claim Bonus: Policies that come with a no-claim bonus increase the sum insured. This proves advantageous to healthy policyholders.
Keeping away from Common Pitfalls
While choosing a policy, watch out for common pitfalls:

Hidden Clauses: Go through the policy document with great care. Check hidden clauses that may severely limit coverage.
Network Hospitals: Ensure that there is a good number of network hospitals for the insurer around you.
Exclusions: Check what is excluded under the policy. Ensure that it does not exclude common treatments needed by seniors.
How to Buy
You can buy these policies online or through an insurance agent. Here are some tips for buying:

Compare Policies: There are comparison websites where you could compare different policies. Check coverage, premium, and features.
Consult a Certified Financial Planner: A Certified Financial Planner can provide advice with expertise. They will help you choose the best policy suiting your needs.
Final Insights
Health insurance for seniors is indispensable. Choose policies with no co-pay, no deductibles, and no sub-limits. Evaluate insurers on the basis of claim settlement ratios, customer service, and network hospitals. Consult a Certified Financial Planner for advice pertaining to the need.
Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

Ans: Choosing the right health insurance policy for a 63-year-old male with a cover of Rs 10 lakhs per annum, where you don't have to pay any money upfront for treatment, requires careful consideration. The health insurance market in India can be confusing with many companies and policies offering various benefits. However, certain parameters can help you make an informed decision.

Understanding the Importance of Health Insurance
Health insurance is critical, especially as one ages. Medical costs can be substantial, and having a robust health insurance policy can provide peace of mind. For seniors, it is particularly important to have a policy that covers all possible medical expenses without the hassle of upfront payments.

Cashless Treatment Facility
One of the key features to look for in a health insurance policy is the cashless treatment facility. This feature allows the insured to get treated without paying any money upfront at the time of hospitalization. The insurance company directly settles the bill with the hospital.

Network Hospitals
Check the insurance provider’s network hospitals. A larger network means more options for cashless treatment. Ensure that the hospitals in your vicinity or preferred hospitals are part of the insurer's network.

Comprehensive Coverage
Look for a policy that offers comprehensive coverage, including pre and post-hospitalization expenses, ambulance charges, day-care treatments, and critical illnesses. Comprehensive policies ensure that you are covered for a wide range of medical scenarios.

No Claim Bonus (NCB)
Some insurance companies offer a No Claim Bonus, which increases the sum insured for each claim-free year without any extra premium. This is beneficial as it enhances your coverage over time without additional cost.

Lifetime Renewability
Ensure the policy offers lifetime renewability. Health insurance policies with lifetime renewability allow you to renew the policy for as long as you live, without any age limit. This is crucial for senior citizens.

Minimal Exclusions
Every health insurance policy has certain exclusions. It is important to read the fine print and understand what is not covered. Opt for a policy with minimal exclusions to avoid surprises during a medical emergency.

Waiting Period for Pre-Existing Diseases
Check the waiting period for pre-existing diseases. Policies with shorter waiting periods for pre-existing conditions are preferable.

Claim Settlement Ratio
The claim settlement ratio of an insurance company indicates the number of claims settled against the total number of claims received. A higher claim settlement ratio indicates a reliable insurance provider.

Customer Reviews and Feedback
Look at customer reviews and feedback about the insurance provider. Real-life experiences of other policyholders can give you valuable insights into the company’s service quality and reliability.

Understanding Policy Terms
Health insurance policies can have complex terms and conditions. It is essential to understand these terms clearly. If needed, seek assistance from a Certified Financial Planner to interpret the policy details. This ensures that there are no misunderstandings at the time of claim.

Professional Guidance
A Certified Financial Planner can provide tailored advice based on your specific needs. They can help you compare different policies, understand the benefits, and make an informed decision.

Avoiding Misleading Information
Many insurance companies may mislead customers with attractive advertisements and offers. It is crucial to go beyond marketing and understand the real benefits and limitations of the policy.

Benefits of Actively Managed Funds Over Index Funds
While the focus here is on health insurance, it is worth mentioning the benefits of actively managed funds if you are looking at investment options as well. Actively managed funds can outperform the market as professional fund managers use their expertise to make investment decisions.

Disadvantages of Direct Funds
Investing in direct funds without guidance can be challenging. Direct funds do not provide advisory services, which can lead to poor investment decisions. It is beneficial to invest through a Mutual Fund Distributor (MFD) with a CFP credential, who can offer professional advice and ensure your investments align with your financial goals.


Navigating the world of health insurance can be overwhelming. It is commendable that you are taking proactive steps to secure your health and financial well-being. By focusing on these parameters, you are ensuring a safer and more secure future.


We understand the importance of finding the right health insurance policy, especially when healthcare costs are rising. It is crucial to choose a policy that not only fits your budget but also provides comprehensive coverage without any financial strain at the time of treatment.

Final Insights
Choosing the best health insurance policy for a 63-year-old male requires careful evaluation of various factors such as cashless treatment, network hospitals, comprehensive coverage, NCB, lifetime renewability, minimal exclusions, waiting period for pre-existing diseases, claim settlement ratio, customer reviews, understanding policy terms, and seeking professional guidance.

Taking the time to research and compare different policies will pay off in the long run. It is always advisable to seek the expertise of a Certified Financial Planner who can provide personalized advice and help you make an informed decision. Remember, the right health insurance policy can provide financial security and peace of mind, ensuring you get the best possible care without any upfront financial burden.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in