Sign In
For assistance with claim related queries in the CYCLONE affected regions of Tamil Nadu, Andhra Pradesh, and Kerala, please click here

Benefits Of Long Term Health Insurance

​Health insurance is a very smart choice for any individual which can help them get a secure future for their family. We all save for futures but often our savings are not enough to meet any medical emergency that might come in the future. For this case, it is best to invest in a planned way into medical insurance which will give benefits at the time of medical emergencies. The only issue for the people is the yearly renewal terms that come with a health policy. 

A long-term health insurance plan often has a renewal plan of 2 or 3 years which saves you from the headache of yearly renewal. They could be family as well as an individual insurance plan. 

Why should you get a long-term policy?

There are numerous benefits of getting a long-term policy, a few of many are listed below:

Hassle-free renewal

A long-term health insurance plan keeps you protected for 2 to 3 years without any worry about the renewal. A short insurance policy often has a yearly renewal plan this could be a headache as you have to keep in mind about the premium amount. While the 3-year plan will be less hassle. Also, you don’t have to worry about any cost of medical health that you may incur during this period. This is the time when unannounced diseases are at rising and almost everyone is suffering from something. It is important to get yourself covered. Also, there will be less hassle about missing the deadlines and doing the paperwork. 

Income Tax

Long term health insurance plans are very important for tax savings. According to several subsidies and Income Tax Acts, you get to enjoy a tax deduction on the premium amount you pay. So, if you get medical insurance plan for yourself or your family you can enjoy the tax deduction of up to 50,000. This is one of the most convenient options in which you can save your tax while also getting your family protected. 

Premium Discount

The best benefit that one could get from a long health insurance plan at an early stage is paying low premiums. When you get a plan for a longer period this means you’re getting it at an early stage and thus the insurance company offers a very low premium amount in comparison to the short insurance policy. 

May cover pre-existing disease

The pre-existing ailment is an important thing while getting insurance. It is the disease you are suffering from at the time of getting the insurance. While many insurance firms do not cover this under short term policy but for the long term, a few insurers do offer this benefit with few terms and conditions. 

Look at different plans available and buy health insurance plan which suits your need. In these hard times, it is very important to have yourself and family secured, when there is no guarantee about where the future is going. Having a health insurance policy​ will keep the financial burden off your head.