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Blog > Health Insurance > Top Reasons why you should buy long-term Health Insurance

why you should buy long-term Health Insurance

A happy, tension-free life is the end goal of earning. You also love to enjoy your life with peace of mind. But, in the present pandemic situation of COVID-19, you can’t imagine it easily. Stepping out to do something valuable is full of risk. Even, if you are insured under group health insurance by your organization, you can’t find yourself completely in a safe zone. The majority of times the group health insurance has capping & limitations on the insurance cover. Many of the health insurance plans can’t assure you of full critical coverage and there is a conflict in your mind always.
 
Focus on secure long-term benefits amid the uncertain scenario
 
You can see the spreading rate of deadly disease COVID-19 in India. Purchasing a health insurance policy can be the next best thing to stay prepared for any inevitable health issues. Long-term health insurance policy allows you to afford the finest medical care and treatment services across India. Long-term health insurance policy involves multiple benefits when compared to short-term policy.  
 

Let’s explore the benefits of buying a long-term health insurance:

 
1. Hassle-free renewal
 
A long term health insurance plan keeps you secured for at least 2-3 years. During this period, you don't need to take stress over the expense of health-related issues. It is a major help to stay prepared against any unexpected disease. When you select a long-term health insurance plan, you don't need to stress over renewing the policy on a frequent basis. There will be likewise no problems of missing the deadline for renewing the policy or complicated paperwork. Additionally, it reduces the burden of the emergency fund during the unseen healthcare service needs. 
 
2. Smart saving on Tax
 
Health Insurance plans have become essential care for individuals and families. It does not only manage all sorts of your medical expenses but also help you with your tax savings. As per the norm of section 80D of the income tax act, you will get the benefit of the tax deduction on the premium you pay. If you buy a long-term health insurance plan for yourself and parents, then you can get the tax saving up to INR 50,000 in a financial year. So, buying a mediclaim policy is a smart decision as it can manage the expenses of hospital bills as well as help you in saving a lot for health protection.
 
3. Long term health insurance is more affordable 
 
The considerable benefit that you can enjoy from long-term health insurance is the discounted rates of premium. Most of the health insurance company offers discounted premium rates in the long-term insurance plans as compared with the short-term policies. Hence, it is always a wise move to choose long-term health insurance.  
 
4. Coverage of pre-existing diseases

Getting the right medical insurance plan at the right time is always beneficial for you. You must analyse the feature and benefits of medical insurance before buying it. The coverage of pre-existing diseases is an important factor in your mediclaim policy. It refers to the disease or sickness you were experiencing at the time you purchased your policy. A couple of medical insurance service providers do give you the alternatives of pre-existing disease in their long-term medical insurance plan and you must choose by going through its terms and conditions.  

5. Option to manage the cost of legitimate healthcare
 
As you grow, you need increasingly more health consideration and specialist doctors’ visits. Various healthcare expenses like hospitalization, day-care treatment, room rent, ambulance cost, and medications can make you financially week. Regular visits to the healthcare service provider and requirement of different medicines can immediately turn into a money related burden to anyone. So, it is always beneficial to buy long-term health insurance plans.
 
6. Benefits of NCB
 
NCB stands for No Claim Bonus. This is a discount given to the policyholder at the time of renewal if there is no claim was taken in the duration of the previous policy. No claim bonus (NCB) in long-term health insurance is higher than the NCB of a short-term medical policy. Some medical service provider also offers a couple of claims in this case without impacting the NCB cycle. In this way, you can enjoy the benefit of a long term policy in two ways 
 
1. Claims are allowed. 
 
2. NCB remains intact. 
 
Again, it is always a good practice to read the terms and conditions related to NCB in your medical insurance plan to get accurate details about your insurance policy.
 
Know more about our various health insurance plans for family
Words of wisdom:
 
Long-term health insurance coverage is without a doubt the most efficient and useful decision for you. By getting a long- term medical coverage policy, you will get all coverage of medical expenses for a long time. Hence, you must compare different mediclaim policies and pick the best health care coverage plan that best suits your needs.
 
Perhaps the biggest healthcare disaster is COVID-19 which is currently unstoppable. In such a pandemic situation, you need not plunge your savings or take emergency loans or sell assets to arrange the fund for treatments. You just need to make a smart decision and buy a long-term medical insurance plan.
                                                               

Buy the best long-term health insurance online with HDFC ERGO Health


To get the best long-term health insurance, you should compare different medical health insurance plans online. The online method helps you customize your policy on the basis of the sum insured. Additionally, the feedback and reviews of customers also help you get the top-rated health insurance policy for you and your family. HDFC ERGO Health offers economical as well as feature-rich long-term health insurance plans. The settlement of instant medical claims, positive reviews, and brand reputation has made this company the first choice among people for best-in-class health insurance services.

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