Long-Term Health Insurance Plans
  • Explore Long Term Health Plans
  • Benefits Of Long Term Health Plans
  • Long term Health Plan Eligibility
Long-Term Health Insurance Plans
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Long-Term Health Insurance: An Introduction

India has the highest medical inflation rate in Asia at 14% according to the latest report called the 'Health Report of Corporate India 2023' published by Plum, an insurance technology company. What does this mean for you and me?

It means that investing in health insurance is no more a choice, it is a necessity. With the consistently rising healthcare costs, selecting the best long-term health coverage for yourself and your family is best.

This article sheds light on the nuances of long-term health coverage, including features, benefits, and why you must invest in long-term health insurance.

What Is Long-Term Health Insurance?

Typically a health insurance plan has a tenure of 1 year which needs to be renewed annually. However, you can invest in long-term health plans with a policy tenure of 2 to 3 years.

If you are wondering if purchasing long-term health insurance is going to be expensive, do not worry. Often health insurance providers offer you with hefty discounts on purchasing long-term health plans. Similarly, there are multiple reasons to invest in a long-term health plan which are discussed in the next section.

Long-Term Health Insurance Plans Benefits

There are multiple benefits to purchasing a long-term health plan like

  • Avail Of Discounts On Premiums

    Many health insurance providers encourage insurance holders to invest in long-term health coverage as it offers them premium discounts lowering the overall cost of the premiums.
  • Peace Of Mind

    Live a stress-free life when you do not have to worry about renewing your health insurance plan yearly. If you have a long-term health plan you are covered consistently for 2 or 3 years. This way you and your loved ones are covered for a long period letting you focus on other financial investments.
  • Renewal Premiums Stay Constant

    A health insurance plan revises your health insurance premium at every renewal as per your age, health conditions, etc. When you invest in a long-term health plan you are not due for any renewals for the next 2-3 years helping you save money by avoiding any hikes in premiums.
  • Tax-Benefits

    Avail tax benefits under section 80D of the Income Tax Act of the prevailing Indian Tax Laws.
  • Protect Your Benefits

    Not renewing your health insurance plans on time every year can lead to losing your accumulated health insurance benefits like no-claim bonus, wellness benefits, etc.

    Investing in a long-term health insurance plan will relieve you from the stress of renewing your health plans for at least 2 or 3 years safeguarding your benefits.

What Is Covered With Long-Term Insurance Plans?

Let us take a look at the inclusions of long-term health insurance plans:

  • Pre and post hospitalisation expenses such as doctor's visits, pharmacy, diagnostics, room rent, etc are all covered
  • Coverage for daycare procedures, AYUSH Treatments, ambulance cover, etc
  • Coverage for organ donors
  • Wellness benefits such as health coaches, webinars, and premium discounts, are available with long-term health insurance
  • Depending on your long-term health plan, you can avail of maternity benefits including pre and post-natal expenses

Long-Term Health Coverage Eligibility Criteria

Eligibility criteria for long-term health plans are similar to those of a regular health plan.

Eligibility Criteria Specifications
Minimum Entry Age 18 Years
Maximum Entry Age 65 Years
Policy Tenure 2 or 3 Years
Add-Ons Available
Waiting Period 30 days (Initial)
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Long-Term Vs Short-Term Health Insurance Plans

Below mentioned are the differences between a long-term health insurance and a short-term health insurance plan.

Parameters Long-term Health Plan Short-term Health Plan
Premium Discounted premiums available for long-term health plans Affordable health premiums for short-term health plans
Add-Ons Available Not Available
Tax Benefits Available under section 80D Available under section 80D
Renewability Have to be renewed after 2 or 3 years Have to be renewed in a few months

Health Insurer Network Hospitals

Wrapping It Up

A long-term health insurance policy is your answer if you do not wish to undergo yearly health insurance renewals. In addition to that, you are offered a policy discount when you purchase a long-term health plan. However, you must remember that purchasing a long-term health plan will mean paying premiums for 2 or 3 years which may be difficult for some.

Before investing in a long-term health insurance plan, compare health insurance premiums with the PolicyX Premium Comparison Tool. For further information, connect with our PolicyX insurance experts.

Long-Term Health Insurance Plans: FAQ's

1. What are long-term health plans?

A long-term health plan includes health coverage for you and your family for either 2 or 3 years or more.

2. Can I purchase a health plan for more than 1 year?

Yes, you can purchase a health insurance plan for more than 1 year. A health insurance plan can be bought for 2 or 3 years of policy tenure.

3. Will I get discounts on premiums if I purchase a long-term health plan?

Yes, health insurance companies offer policyholders a premium discount on purchasing a long-term health plan.

4. Does long-term health insurance cover pre-existing diseases?

Yes, long-term health insurance plans cover pre-existing ailments after the policyholder serves the defined waiting period.

5. Are long-term health plans eligible for tax benefits?

Yes, long-term health plans are eligible for tax benefits under section 80D of the Income Tax Act.

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What Our Customers Have to Say

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Raghoba Phadke


April 8, 2024

PolicyX made me buy the Niva Bupa Reassure 2.0 health policy. And the customer care executives are so soft-spoken and compassionate about their customer needs.

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April 8, 2024

PolicyX suggested buying Niva Bupa Senior First health insurance for my old age parents. I& 039;m happy to gift them good health, thank you PolicyX.

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April 8, 2024

The team of PolicyX is always open to clear any doubts. I highly recommend buying Niva Bupa health policy from them.

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April 8, 2024

I bought Niva Bupa health insurance for my parents, thanks to PolicyX that now I can be prepared for their health needs.

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April 8, 2024

I got hospitalized due to an accident and my base policy was not sufficient for treatment. So, PolicyX made me buy the Niva Bupa Health Recharge add-on plan. Now, I’ll be prepared for any...

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April 8, 2024

All my queries related to claim settlement ratio for Niva Bupa and claim process were resolved by PolicyX insurance agents

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April 8, 2024

PolicyX helped me with all my queries regarding the Aditya Birla Active Essential Plan and helped me with the buying process. I am so grateful.

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April 8, 2024

With the help of PolicyX, I got my health insurance policy from Aditya Birla Health Insurance. They answered all my queries without any hesitation and helped with every process.

Simran Kaur Vij

Written By: Simran Kaur Vij

Simran is an insurance expert with more than 3 years of experience in the industry. She may have all the answers to your insurance queries. With a background in Banking, she proactively helps her readers to stay on par with all the latest Insurance industry developments.