Here’s what you need to know about long-term health insurance

Updated: Apr 24, 2019

In the face of rising rates of disorders and diseases due to lifestyle, stress, pressures of modern life, etc., as well as unforeseen incidents, one requires financial protection in the form of health insurance coverage. Long-term policies are usually considered low-cost health insurance plans.

What is long-term care insurance?

Long-term care insurance requires you to pay an annual premium, in return for financial assistance if you need help taking care of yourself on a daily basis. It provides coverage for nursing-home care, personal day-care, etc. for people above the age of 65 or those suffering from a chronic condition. A long-term health insurance policy helps reduce hospitalisation costs or costs incurred at assisted living facilities and home assistance.

What is the difference between short-term and long-term health insurance?

There are both short-term as well as long-term insurance plans. While the former has a validity of one year and has to be renewed after that, the latter is valid for two to three years.

Here are some advantages of a long-term health insurance plan:

1. You do not have to worry about renewing your policy every year since they are valid up to two to three years. Sometimes, there are discounts on the premium, unlike the one-year plans.

2. Once you take a long-term health insurance plan, you also don’t have to worry about premium rate revisions during this period.

3. It may also cover pre-existing diseases, depending on the waiting period.

4. It may help you cut down on income tax.

Some disadvantages of long-term policies are:

1. Since insurance companies consider senior citizens to be at high risk, they usually do not cover them under long-term health insurance plans.

2. The premium has to be paid all at once, which may stress the pocket for some.

A long-term health insurance plan is best suited for those who are advanced in age. It is convenient and also financially a better option in the long run. With easy EMIs and easy returns, ManipalCigna’s health insurance policies will keep you financially covered in the midst of an unexpected health crisis. Head over to their website to browse through their health insurance plans.


ManipalCigna Health Insurance Company Ltd (Formerly known as CignaTTK Health Insurance Company Limited) | CIN U66000MH2012PLC227948 | IRDAI Reg. No. 151 
Reg. Office: 401/402, 4th Floor, Raheja Titanium, off. Western Express Highway, Goregaon (East), Mumbai- 400 063 | Toll free number – 1800-102-4462 | Website address –
Trade Name / Trade Logo belongs to MEMG International India Private Limited and Cigna Intellectual Property Inc. and is being used by ManipalCigna Health Insurance Company Limited under license. For more details on risk factors, terms and conditions, please read the sales brochure/ sales document available on our website (Download section) before concluding a sale.

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