By Okbima 15 May 2024 34

Health Insurance Age Limit In India: Impact Of Age On Health Insurance Premiums


There is a lot of confusion about getting health insurance because many people don’t know the health insurance age limit. Also, you may wonder why an insurance company adds an age limit to buy health insurance. In this blog, we’ll answer your all queries.


What Is The Maximum Health Insurance Age Limit In India?

Before 1 April 2024, there was an age limit for health insurance which was 65 years old. But, for people's convenience, IRDAI removed the age limit to buy health insurance which will be effective from 1 April 2024. Although, the premium will be higher for those who have pre-existing conditions.


Why Age Limits Are Imposed By Insurance Companies?

Insurance companies set age limits to manage the risks involved. As people get older, they may get health problems. Age limits help insurance companies to control the risks.

  • Increased Health Risks: As people get older, they may get health issues like heart disease, diabetes & cancer. This can cost a lot of money for medical treatments, so the insurance company has to pay more for claims.

  • Mortality Risk: Insurance companies must figure out how much the chance for a person to die while they have the insurance. As people get older, the chances of dying go up, which can change how much you pay for insurance and what kinds of insurance you can get.

  • Affordability: Insurance may cost more for older people because they may be living on a fixed income or have stopped working. Insurance companies use age limits to balance their risk and still give people a good deal on coverage

  • Policy Duration: Some types of insurance, like term life insurance, only protect you for a fixed period of time. Age limits make sure you can get coverage during that time.


Reduce Medical Expenses: Get The Best Health Insurance Plan!


Impact Of Age On Health Insurance Premiums & Coverage

Age is a significant factor affecting both the cost (premiums) and coverage of your health insurance in a few ways like higher premiums with age, limited coverage for pre-existing conditions, etc

  • Higher Premiums with Age: Health insurance premiums increase as you age. This is because younger people have fewer health issues and need less medical care compared to older individuals.

  • Limited Coverage for Pre-Existing Conditions: As you get older, you may have pre-existing health conditions. Some plans might have exclusions for pre-existing conditions, limiting coverage for treatments.

  • Increased Waiting Periods: Some plans might impose longer waiting periods for specific conditions, especially pre-existing ones. This means you'll have to wait for a fixed period before the insurance starts covering you.

  • Senior Citizen Plans: While coverage options might be limited for some older adults with regular plans, there are senior citizen health insurance plans designed specifically for their needs. These plans may have higher premiums but cater to the specific health concerns of older individuals.


Don’t Wait For Hospitalization: Get A Free Quote!


Why Get Health Insurance Early?

There are many reasons to get health insurance early, even if you feel young and healthy such as you get lower premiums, guaranteed renewability, peace of mind, etc.

  • Lower Premiums: Health insurance premium costs are based on age. If you buy when you are young, you will pay less premiums. This is because younger people are healthier and need less medical care, so insurance companies see them as less risky. 

  • Guaranteed Renewability: The best health insurance plans in India can be renewed as long as you continue to pay the premiums. It is important to get coverage while you're young and healthy because it might be harder to get good coverage if you wait.

  • Coverage for Pre-Existing Conditions: If you have a health condition after buying a health insurance plan at a young age, it won't be considered a pre-existing condition. This means you'll be covered for treatment related to that condition, unlike if you wait until you have the condition before getting insurance.

  • Peace of Mind: Unexpected accidents or illnesses can happen at any age. Having health insurance or personal accident insurance early on provides peace of mind in case of a medical emergency. You can concentrate on healing without the stress of financial concerns related to medical expenses.

  • Build Up Your No Claim Bonus: Many health insurance policies offer a "No Claim Bonus" for not filing any claims in a particular year. This bonus is a discount on your premium for the following year. Starting your plan early allows you to accumulate this bonus over a longer period.


Read More:

Pre-Existing Disease In Health Insurance: List Of Covered Diseases

Deductible In Insurance: Definition, Types & Factors Affect Deductible Amount

Top 10 Health Insurance Companies in India 2024: Ranked by IRDAI

Preventive Health Check-up and Its Benefits

Health Insurance Portability in India 2024



In conclusion, the health insurance age limit in India has an impact on the premiums individuals have to pay. As individuals age, the risk of getting health issues increases which can cost higher premiums. This makes it difficult for elderly individuals to afford health insurance coverage. 

Policymakers and insurance companies need to consider the affordability of premiums for elderly individuals to ensure that everyone has access to necessary healthcare services. For the best health insurance plan, you can contact “Our Experts”.


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