Why senior citizens should consider deductibles in health insurance | Personal Finance
If you are a senior citizen, opting for a deductible in your health insurance policy could be a prudent way to manage medical expenses. A deductible is the amount you agree to pay out of pocket before the insurer starts covering the remaining treatment costs.
A deductible can be particularly useful for relatively minor hospitalisations, where paying the initial expenses yourself may be more economical than filing a claim. This approach helps preserve your no-claim bonus (NCB), which can increase your sum insured over time or fetch premium-related benefits, depending on the policy.
Another advantage is that policies with deductibles generally come with lower premiums than comparable plans without one. By absorbing smaller medical expenses yourself, you can reserve insurance coverage for major hospitalisation costs while also limiting the impact of frequent claims on future premium revisions.
However, before opting for a deductible, senior citizens should ensure they have sufficient liquid savings to comfortably meet the deductible amount whenever hospitalisation is required. The deductible should be set at a level that is affordable without putting undue pressure on finances.
First Published: Jul 16 2026 | 6:48 PM IST
