4 Replies to “Is it good to buy a short term health insurance policy?”

  1. Health Insurance is actually a long term product through it is renewed in a short term (every year). Buying a health insurance policy for the long term has many benefits:

    1.Since you are young and healthy, you will get all your illnesses covered for hospitalization as per the policy.
    2.There are waiting period in policies for coverages and benefits. If you buy a policy when you are young for long term, you be covered for all ailments by the time you need the policy.
    3.A long term policy bought at young age can be bought without a Health Check up, and with least restrictions/exclusions.

    So go for a long term health insurance policy. There are numerous companies in India offering good health plans/policies.

    Use services of a broker to get best analysis of your needs vis-à-vis what is available in the market. Here’s one broker you can try: http://www.medimanage.com/inquiry.aspx


  2. It depends on your location. It sounds like you are not in the USA. Here plans are offered on a month to month basis, although as long as you pay your premiums and don’t commit fraud, your plan cannot be canceled. There are short term products that may be cheaper, however they are not offered for more than 6 months at a time.


  3. buy health insurance? yes. please make sure you get enough.
    purpose is to save tax? i hope not, the purpose should be for coverage.
    the insurance is usually renewed yearly but your premium payment can be monthly or yearly. this should be a long term commitment. NOT short term.


  4. short term insurance is really used by people that are in between Jobs, or are in the process of a change, either buy location or by work, and are only wanting a short term, The prices can be cheaper, because many or thee short term policies do not have to be renewed after the initial time is expired, therefor limiting the insurance carriers risk to anyone that might get sick with a long term health condition.





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