Long Term Health Insurance & Their Benefits

Posted on: Feb 19, 2019 | | Written by:

Long Term Health Insurance & Their Benefits

Published on February 19, 2019. EST READ TIME: 3 minutes

“What can happen to me? I am perfectly fit and fine.” Isn’t this an extremely familiar excuse? But when life does not throw a curveball of health complications, then the optimism works nor does the excuse. Health insurance does.

An elaborate health insurance plan is your promise of security to yourself and your family. Once you decide to opt for health insurance, there are options in terms of long term health insurance and short term health insurance. Long term healthcare insurance offers incredible benefits and features that provide seamless comfort and peace of mind to the policy holder.

But first things first.

What is long term insurance?

As an alternative to the short term health insurance plan that is valid only for 12 months and needs renewal every year, long term health insurance plan typically offers a tenure of 2-3 years. A long term health insurance plan is more reliable and dependable. Today, with greater general awareness regarding health issues, a long term health insurance plan offers hassle free and long lasting assurance of safety.

Why do you need a long term health insurance plan?

Currently, there is anincreasedawareness among people about the importance for health insurance. The rising healthcare costs are making it clear to peoplethat health insurance is a necessary investment. Investing on a good health insurance plan also helps you save taxes.

But, these days, it is better to opt for long term medical insurance. When you opt for a long term health insurance plan, the advantage is that you no longer have to renew your policy every year. Some companies also offer discounts on long term insurance policy.

Benefits of long term health insurance

Here are some of the unparalleled benefits of health insurance for long term.

1. It relieves you from the hassle of renewing your health coverage every 12 months. As a policy holder, if you are interested in long term protection, then it makes sense to buy a long term health insurance policy.

2. Long term health insurance plan comes with attractive discounted premium rates.

3. Rate revisions are inevitable in the insurance industry. As someone with a short term health insurance policy, you might have to deal with increased premium rates year after year but since long term health insurance plan covers a period of 2 to 3 years, the policy holder can be immune from any kind of rate revision during that period.

4. A long term health insurance policy may also cover pre-existing diseases which are not covered in short term policy.

5. The cost of premium may vary depending upon how old you are. Some insurance companies charge lesser rates to younger health insurance seekers.

6. Long term health insurance plan can also help the policy holder save tax on his/her income.

Insure yourself and your family’s future with HDFC ERGO long term health insurance plans and live a stress free life with the assurance of unparalleled support in times of need. With a long term health insurance policy, the policy holder can also enjoy some add-on features such as ‘No Claims Bonus’ which is an incentive offered by the insurance provider to a policy holder when no claim has been made over the previous few years.

With 24X7 support, cashless claims, seamless application process and consistently evolving policies, HDFC ERGO is your long term partner in this journey called life.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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