Archive · 19 May 2025
Multi-Year Health Insurance: Secure Coverage, Save Money
Imagine buying health insurance for five years at once.
This way, you don't have to worry about renewing it every year.
You also get to lock in the price, so it doesn't go up.
This can save you money because healthcare costs and insurance premiums tend to increase.
These long-term plans also prevent you from accidentally missing a renewal and losing your benefits.
Plus, you can still get tax benefits.
It's like getting a good deal on your health cover and making sure you're protected for a long time.
Multi-year health insurance plans lock in premiums for up to five years.
Policyholders can save up to 18% on premiums with these plans.
These plans offer protection against future premium hikes.
They eliminate the hassle of annual renewals.
Tax benefits are still available, even with multi-year policies.
- Who
- Policyholders, especially those seeking long-term coverage and premium predictability.
- What
- Multi-year health insurance plans can lock in premiums, offering long-term coverage and savings.
- When
- Insurance providers are now offering long-term health insurance plans of up to five years due to IRDAI norms.
- Where
- India
- Why
- To secure peace of mind, save on rising premiums, and avoid renewal hassles.
- Plan Tenure
- Up to 5 years
- Potential Savings
- Up to 18%
- Average Premium Rise Seen by Customers
- About 10%
- Medical Inflation Rate
- 14%
- Example Cover Amount
- ₹20 lakh