A Short-Term Health Insurance Plan: What Is It?

A type of medical insurance policy that provides coverage for a little time is known as short-term online health insurance in India. Short-term health insurance typically covers you for up to 12 months. The top short-term health insurance policies provide transient protection for medical needs or crises. Additionally, because the premiums are lower, they may be more affordable than their long-term equivalents. Let’s examine the characteristics, advantages, and appropriate purchasers of short-term health insurance plans. ##

Important Elements Of A Short-Term Health Plan

You should be aware of the following short-term health insurance plan characteristics:

• Short-term plans have a duration of 12 months or less.
• Short-term policies require frequent renewals because the coverage will soon expire.
• Due to their limited duration, these plans typically do not cover maternity, serious illness, or pre-existing conditions.
• Given that they only cover a limited amount of time, short-term plans have more economical premiums than long-term ##
• When your health insurance is renewed, you can switch to a different insurer for your short-term plan.

How Does Temporary Medical Insurance Operate?

Short-term online health insurance, as previously noted, is a sort of health insurance that protects the policyholder or insured for 12 months or less. Preventive treatment, urgent medical needs, emergency medical needs, doctor consultations, and other urgent medical requirements are all financially protected by this type of health insurance. Short-term health insurance coverage might be helpful if you need access to affordable health insurance plans or are temporary without health insurance.

Benefits And Drawbacks Of Purchasing A Short-Term Health Plan 

Here are the different health insurance benefits of a short term plan:

• Short-term health insurance policies have fairly affordable premiums.
• It protects against a variety of illnesses and medical disorders.
• The ability to customise their plans is available to prospective policyholders.
• Provides tax advantages for health insurance under Section 80D of the Income Tax Act of 1961. **
• You can use the Cumulative Bonus when you renew your short-term health insurance. *

Here are the limitation of buying a short term plan:

• Short-term health insurance typically does not qualify for the reductions available for long-term insurance.
• Although long-term insurance premiums are less expensive overall than short-term insurance premiums, long-term insurance premiums are less expensive when monthly or quarterly payments are taken into account.
• Some advanced coverage choices that are offered on long-term health plans are not available on short-term plans.
• Your insurer may decline to renew your policy when your initial health plan expires if you wind up with a significant sickness or medical condition while the policy term of your short-term plan is still in effect.

When Is The Right Time To Invest In Short-Term Health Insurance?

• If you only have access to your employer’s health insurance and you intend to change jobs.
• If you are an NRI who spends several months in India.
• You’re seeking a short-term health insurance plan that is reasonable.
• Your health insurance plan has a void in it. 

* Standard T&C Apply

** Tax benefit is subject to change in prevalent tax laws

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply 

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

There are instances where clients are unable to submit claims to the insurance company on time even after acquiring the appropriate travel insurance from India policy and having the necessary documentation. This can result in your travel insurance claim being denied or even delayed.

Time limits for filing a travel insurance claim

You must adhere to the deadlines specified by the travel insurance provider to register a claim in order to resolve your international travel insurance claims. It often fell between one and two months following your return date. However, the insurance will satisfy your claim concurrently if you provide all the necessary information, documentation, and details while you are travelling.

Below are a few examples of travel insurance claim scenarios and the actions you can take to submit a claim:

• Accidental and medical emergencies

If you become ill owing to both an accident and the weather, you might need to use your online travel insurance. With travel insurance, you can receive the best care and be evacuated in an emergency back to your country.

• A lost passport

You must file a police FIR and notify the travel insurance company of the loss.  It is advised that you always keep a copy of your passport on hand to prevent issues in this situation. Additionally, you’ll need to keep track of all the costs that are involved with getting a new passport and present the receipts when filing your travel claim once you’ve returned home.

• Checked baggage delays

When travelling internationally, baggage loss and delays are typical. However, you must present the payment receipts for the essential products you bought due to delayed delivery of your checked baggage to receive prompt reimbursement for your name. Obtain a letter from the airline confirming the baggage loss and delay. To file for compensation from the insurance, you must also provide the tickets, a copy of your boarding pass, your passport, and a luggage delivery receipt to verify the travel dates.

• Trip cancellation or reduction

There may be occasions when you must postpone or cancel your travel due to personal or medical emergencies. Any financial loss arising from trip cancellation or restriction may be claimed through international travel insurance.

Benefits of Additional Travel Insurance:

1. Personal accident cover: With this benefit, you are covered for any unintentional physical injuries, including the tragic possibility of passing away from such injuries.

2. Bonus child education coverage: The provider must provide additional compensation in the form of a lump-sum payment equal to 2% of the insured amount for each dependent child if a travel claim for passing away or permanent total disability has been approved.

3. Coverage for permanent or total disability: If the insured person suffers from an accident that results in permanent damage to one or more limbs, visual loss in one or both eyes or any other disability.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.