Multi-year health insurance can save you from rising premiums: Explained

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Multi-year health insurance can save you from rising premiums: Explained - Business Standard

Quick Summary:

For example, Tata AIG’s MediCare Premier multi-year policy allows policyholders to use available restorations any time within the policy period for sums insured above Rs 50 lakh.

Another factor that policy buyers must keep in mind is that when a multi-year health insurance policy term concludes, they have the option to renew it.

Additionally, seniors can benefit from tax deductions of up to Rs 50,000 annually on multi-year premiums, as in the case of a one-year policy.“These plans provide seniors with stable premiums, ensuring affordability and consistent coverage,” Singhal said.