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Crossed 40? Is It Good to Buy Health Plan? Research Team | Posted On Wednesday, August 07,2019, 03:58 PM

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Crossed 40? Is It Good to Buy Health Plan?



Health insurance is crucial in today’s world where the cost of medication and treatment is soaring. People are more exposed to lifestyle diseases than ever before. An insurance sector expert says that a family of 4 members (2 adults and 2 children) should have health cover of at least Rs 15 Lakh in metro cities like Kolkata, Chennai, Delhi and Mumbai.

Anything less than this would be inadequate. What is the ideal age to buy health insurance? Health insurance can be availed whenever you want, but the ideal time to buy is during your 20s. What about people who have crossed 40?

Who wants to be unhealthy? Even senior citizens buy health insurance to enjoy quality medical treatment. Age matters a lot, especially for people with pre-existing medical conditions. Health insurance is offered with a certain waiting period to people with pre-existing illnesses. The waiting period ranges from 2-4 years depending on the severity of a disease. The main advantage of buying health insurance early is that the waiting period passes off quickly. Once the waiting period is over, you can make a claim.

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Crossed 40? Is It Good to Buy Health Plan?

Health Insurance Premium During the 40s

As we grow older, we are prone to age-related health problems. This is the reason why age is the biggest consideration for health insurers. Premiums depend on age. The lower the age, the lower will be the premium and vice versa. Premiums cannot be the same across all age groups. Even though you are buying health insurance after 40, premiums are comparatively lower when compared to senior citizens or people who are above 60.

Regular health insurance policy premium from general insurance companies as of 26th November 2018


Yearly Premium for a Cover of Rs 20 Lakhs

35 years

Rs 10,829-16,638

45 years

Rs 13,798-24,307

55 years

Rs 24,185-46,727

65 years

Rs 37,183-70,999

Regular health insurance plans and top-up for a base cover of Rs 5 Lakhs and a top-up cover of Rs 15 Lakhs as of 26th November 2018


Yearly Premium for Regular Plans

Yearly Premiums for Top-Ups

35 years

Rs 5,288-9,734

Rs 1,298-5,548

45 years

Rs 6,525-12,339

Rs 1,558-7,498

55 years

Rs 11,142-20,895

Rs 3,090-12,698

65 years

Rs 17,522-40,223

Rs 7,674-23,345

As we can see from the table, the yearly health insurance premium keeps changing with age. Avail health insurance as early as possible.

Why Health Insurance After 40?

Do not forget health insurance after 40, even if you are in good health.  After 40, you may suffer from various diseases. The common diseases are hypertension, diabetes, osteoporosis, heart ailments and others. These are the major diseases and the treatment is expensive. Given this fact, health insurance is mandatory at this age.

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