Short-Term Health Insurance

The health insurance industry in India has witnessed remarkable growth and evolution over the years, thanks to technological advancements. While many policies cater to long-term coverage needs, there are times when individuals require temporary solutions. For such situations, short-term health plans are ideal. Let's delve deeper into short-term health insurance to understand its coverage, benefits, and more.

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      What is Short-Term Health Insurance?

      Short-term health insurance is a type of health insurance policy that provides medical coverage for a short duration of less than 12 months. It is designed to provide temporary coverage for medical emergencies or sudden illnesses. Compared to regular health plans, short-term mediclaim insurance plans are more affordable and can be extremely helpful for people without stable jobs. However, these plans usually do not cover pre-existing diseases, maternity expenses or critical illnesses.

      Benefits of Short-term Health Insurance Plans

      Some of the key benefits of short-term health insurance plans are as follows:

      1. Low-Cost Premium

        The premium of a short-term mediclaim insurance plan is comparatively lower than the premium of a regular or long-term health insurance plan. Thus, people can obtain medical coverage without paying a hefty premium.

      2. Easier to Change Plans

        Short-term health insurance plans have a shorter tenure. Therefore, if you are not satisfied with the terms and conditions of your medical insurance policy, you can change the plan or use the health insurance portability feature to switch to a different insurer to fulfil your medical requirements.

      3. Fills Temporary Coverage Gap

        A short-term health plan is highly beneficial for people with a coverage gap. For example, people who have missed their health policy renewal or someone who recently left a job.

      4. Provides No Claim Bonus

        Just like regular mediclaim plans, a No Claim Bonus (NCB) is granted to policyholders with short-term health insurance who did not raise a claim in the previous policy year. The NCB can be used to earn a renewal premium discount or an increase in the sum insured amount.

      5. Ease of Purchase

        Buying a short-term health insurance plan is extremely easy, as most people do not have to undergo any medical check-up before policy issuance. Moreover, just like long-term health insurance plans, they can also be purchased online within a few minutes.

      Who Should Purchase Short-Term Health Insurance?

      Short-term health insurance plans are ideal for the following people:

      • Individuals staying for a short time in India
      • Individuals who are in between jobs
      • People looking for temporary but affordable health coverage.

      What to Consider When Buying Short-Term Health Insurance?

      Check out some of the significant that you should keep in mind while purchasing a short-term medical insurance plan:

      • Coverage and Benefits: Make sure you check the benefits and coverage of your health plan. Look into what the plan covers and what it does not cover because short-term health insurance typically provides limited benefits.
      • Policy Duration: Short-term plans are designed for temporary coverage, often lasting from 3 months to 12 months. So, consider how long you will need the policy and whether you can renew it if necessary.
      • Pre-Existing Diseases: These plans usually do not cover Pre-existing Diseases (PEDs). Therefore, if you have any illness, you may need to explore other insurance options.
      • Policy Exclusions: Review the exclusions and limitations of your short-term health policy carefully, as some plans might exclude even certain types of surgeries. So, understanding these exclusions upfront will help you decide if the plan aligns with your needs.

      Eligibility Criteria for Short-Term Health Insurance Plans

      The eligibility criteria for short-term health insurance plans may vary from one insurer to another. However, here are the general eligibility requirements:

      • Age: The minimum entry age to buy a short-term health insurance plan is 18 years, and there is no cap on the maximum age limit. This means that anyone can buy these plans.
      • Residency: These plans are generally for residents of India, including both citizens and non-citizens residing in the country.
      • Health Information: Applicants are often required to provide a health declaration outlining their medical history and any existing health issues.

      What is Covered by Short-Term Health Insurance?

      The following medical procedures are covered by short-term health insurance plans:

      • In-patient hospitalisation expenses
      • Pre & post-hospitalisation expenses
      • Day care treatment
      • Outpatient care (OPD) expenses
      • Ambulance charges
      • Organ donor expenses
      • Surgery and operation theatre expenses

      Differences Between Short-Term and Regular Health Insurance Plans

      Take a look at the key differences between short-term health insurance and regular health insurance plans:

      Basis of Difference Short-Term Health Insurance Regular Health Insurance
      Policy Tenure Between 3 months to a year 1 year
      Pre-existing Disease Coverage Pre-existing conditions may not be covered Pre-existing conditions are covered after the waiting period is over
      Premium Premiums are comparatively lower Premiums are comparatively higher
      Add-on Covers No add-ons are available Add-ons are available

      FAQs

      • Q1. What are the advantages of buying a short-term health insurance plan?

        Ans: Some of the advantages of buying a short-term mediclaim plan involves affordable premiums, flexibility, works as a temporary solution to fill the coverage gap, etc.
      • Q2. Can I renew my short-term health policy?

        Ans: Yes, some health insurance companies in India allow policyholders to renew their short-term plans. However, it may differ from one insurer to another. Therefore, make sure you read the policy document carefully to know whether your policy can be renewed or not.
      • Q3. Does a short-term health plan cover pre-existing diseases?

        Ans: No, short-term health plans do not cover pre-existing conditions. These plans are designed for temporary medical needs and may exclude treatment for medical issues you already have before buying the policy.
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      Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

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      *We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30- minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881.

      *Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. Policybazaar does not provide any medical or surgical advice or diagnosis and is not responsible for your interactions / treatment by a medical practitioner/hospital. Please consult a registered medical practitioner for any medical or surgical advice. The Information that you obtain or receive from Policybazaar, and its employees, or otherwise on the Website is for informational purposes only. As per the Insurance guidelines, you are allowed to cancel the policy with-in 30 days from the date of Issuance of policy.This option is available incase of policies with a term of one year or more.

      *All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.

      **All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.

      *₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.

      *₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases

      *₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.

      *₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

      *No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

      *The values taken for effective cost calculation are indicative values and may change as per the selected plan.

      *Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

      *Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

      *The scope of coverage may vary from plan to plan.

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      Tax Benefits are subject to changes in tax laws. GST Exemption depends on fulfilment of qualification criteria and submission of relevant documents as required by the insurers. For more details on risk factors, terms and conditions, please read the sales brochure and applicable rules and regulation carefully before concluding a sale.

      STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

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