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Long Term Health Insurance

All hospital expenses*, 100% covered

✅ Zero waiting period ✅ Zero deductions at claim

Waiting period
Cashless hospitals
Bills covered

Home / Health Insurance / Long Term Health Insurance

Buying health insurance can be challenging if you do not know what you are looking for. So, if you are unfamiliar with the types of health insurance options available, you have arrived on the right page. Here, we will explain the meaning of long term insurance and highlight some of its pros and cons.

What is long Term Health Insurance?
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Long term health insurance is a type of insurance policy that has a longer validity period as compared to regular health policies. Usually, regular health insurance policies offer coverage for just one year. In contrast, the validity of long term medical insurance can be around 2 to 3 years. 

Why do you need a long term health insurance plan?
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Unlike Travel Insurance, which is needed only for a specific travel period, health insurance is a cover that is required at all times to face the financial consequences of unpredictable medical emergencies. That being the case, it is beneficial to buy long term health insurance so that you are covered for multiple years in one go. By doing this, you will save a lot of time, effort and money! Read the next section to know how.

What are the benefits of a long term health insurance policy?
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Here are some of the benefits of opting for a long term health insurance policy. Exact benefits can vary from insurer to insurer and plan to plan.

Less stress
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A usual health insurance plan relieves you of the financial stress of medical care for a duration of a year. Possessing long term insurance, on the other hand, can keep you stress-free in this regard for up to two or three years.

Pocket friendly
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Health insurers usually offer discounts on the policy premium for long term health insurance plans. Hence, buying long term insurance with a policy duration of two to three years is more cost-effective than renewing insurance every year for the same duration.

Safeguards your benefits
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Your accumulated No Claim Bonus (NCB) (or policy renewal benefit) can be lost if you do not renew your policy on time. However, if you opt for long term insurance, you do not need to worry about losing such benefits for at least two or three years.

Skip premium revisions
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The premium charged for health policies can be revised periodically. Buying a health insurance long term policy can help you avoid these hikes and safeguard your hard-earned money.

Tax benefit
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Under Section 80C of the Income Tax Act, you can claim tax exemptions on the premium paid towards long term health insurance.

Disadvantages of long term health insurance plans
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The following are the disadvantages of opting for long term health insurance plans.

Why choose ACKO’s long term health insurance policy?
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In this section, we will highlight the key reasons why you should consider opting long term insurance from ACKO. The following points are mentioned considering ACKO Health Policy (Rs. 1 crore sum insured) for a long term, which translates to ACKO’s Long Term Health Insurance Policy.


Vast customer base:
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We currently provide insurance products to over 7.5 crore customers in India. Our broad customer base indicates the quality and trustability of our products, which also applies to our long term health insurance.


Numerous network hospitals:
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A good insurance company will usually have a good range of reputed network hospitals. ACKO has over 7,100 network hospitals, including some of the best in the country.


Digital insurance:
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Usually, buying offline health insurance involves filling out numerous forms, submitting a long list of documents, and constant follow-ups.ACKO’s digital insurance processes help you avoid such hassles.


Ease of access:
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With our responsive website and customer-friendly mobile app, you can expect a smooth insurance journey. You can check out our General FAQ section anytime for common queries related to health insurance.


Zero waiting period:
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Usually, health insurance policies come with an initial waiting period and a waiting period for pre-existing health conditions. ACKO’s long-term medical insurance has neither. You can start making claims from day one onwards.


No shared payment clauses:
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Usually, health insurance plans have cost-sharing clauses. Meaning, you will have to bear a portion of the medical costs during a claim. This can cause additional stress during a medical emergency. In contrast, ACKO’s long term policy has no hidden cost-sharing clauses. You can avail of 100% coverage up to the sum insured limit of Rs. 1 Crore.


Ambulance charges:
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Usually, health insurance plans do not cover ambulance charges. However, ACKO’s long term health plan offers coverage for ambulance trips from your house to the hospital, up to the sum insured limit.


All medically required hospitalisation is covered:
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Health plans usually have very narrow coverage.ACKO’s long term medical insurance, on the other hand, covers all medically required hospitalisation. The only condition is that you must submit your full medical history at the time of policy purchase.


No room rent cap:
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Health plans usually have a cap on the room rent. So, you can choose rooms only within a certain budget. Under ACKO’s long term health insurance policy, there is no cap on room rent. So, you can choose the most comfortable hospital room for yourself and receive the best treatment.


Peace of mind:
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With extensive sum insured, coverage for a number of years, and top-notch services, you shall receive the required insurance support in case of a medical emergency.

Frequently asked questions
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Here are the answers to some of the commonly asked questions regarding long term health insurance.


Can I buy a health insurance policy that has a validity of more than a year?

Yes, you can buy a health insurance policy that has a validity of more than a year. Such a policy is termed as a long term health insurance policy and usually has a policy duration of two to three years.

Is it advisable to opt for long term health insurance?

Yes, it is advisable to buy long term insurance as it is more cost-effective than its alternative in the long run. 

Is long term medical insurance available for senior citizens?

Usually, long term medical insurance is not available for senior citizens specifically. Nevertheless, crosscheck if this is an inclusion or exclusion before buying a policy.

How frequently do I have to pay for long term health insurance coverage?

Long term medical insurance is usually purchased with a one-time bulk payment. So, you just have to pay once for the stipulated policy period.

Do long-term health insurance plans cover pre-existing medical conditions?

Yes, usually long-term health insurance plans cover pre-existing medical conditions. Nevertheless, refer to the policy wordings of a long-term plan to find out if this coverage is an inclusion. ACKO’s long-term plan not only covers pre-existing health conditions, but it also offers zero waiting period for them. So, if you buy our insurance plan, you can claim against such conditions from day one, without encountering any delay.

What is a short term health insurance policy?

A short term health insurance policy is a health plan that usually has a policy term of around a year or less.

Why is short-term medical insurance priced lower as compared to long-term medical insurance?

Short-term medical insurance is priced lower than long-term medical insurance because it offers coverage for a shorter duration. However, it can be more economical to buy a long-term policy with a policy period of three years than to buy a short-term policy every year for three years.

How do I select the best long term health insurance?

You can select the best long term health insurance by browsing for different options online. Then, use the health insurance premium calculator tool to compare plans based on their cost-to-benefit ratio and choose the most suitable plan for you.

Is multi-year health insurance the same as long-term health insurance?

Yes, multi-year health insurance means the same as long-term health insurance. They both refer to a health insurance plan with a policy period of more than a year.