What is Short-Term Health Insurance?
23 April, 2024
1 Shares
522 Reads
Share
With the changing preferences of consumers and technological advancements in India, the healthcare industry has evolved over time. Numerous medical insurance plans have been introduced to help individuals easily meet their requirements. While long-term medical insurance provides comprehensive coverage, there are times when individuals require medical insurance plans for temporary coverage. This is where short-term health insurance plans come into the picture.
Wondering what is a short-term insurance plan or how the plan can be beneficial? This blog will question all the queries. Keep scrolling through to know the details.
Short-Term Health Insurance: An Introductory Guide
A short-term health insurance plan refers to a temporary medical insurance plan that provides medical coverage for less than 12 months. This plan offers immediate coverage to the policyholder and is the ideal plan for:
- Individuals who are in between jobs and are no longer covered under group medical insurance
- Recent college graduates
- Individuals waiting for long-term coverage to begin
Short-term health insurance plans provide some coverage for preventive care, doctor visits, urgent care, and emergency care.
Features of Short-Term Health Plans
After getting a detailed description of what short-term health insurance and its benefits are, let's move forward to understand the plan's significant features. Below listed are some of them for you to explore:
- As the name says, short-term plans have a duration of 12 months or less than that.
- The plan requires frequent renewal because the coverage ends quickly.
- Due to the limited duration, short-term plans generally exclude coverage for major illnesses, maternity care, and pre-existing conditions.
- Short-term plans feature reduced premiums compared to long-term plans due to their shorter coverage periods.
Benefits of a Short-Term Health Insurance Plan
Short-term health insurance in India offers numerous benefits to help cover medical emergencies and sudden illnesses. Some of them include:
Affordable
Short-term plans tend to have lower monthly premiums than traditional medical insurance plans. This makes them an attractive option for individuals between jobs, waiting for employer-sponsored coverage to begin, or seeking a more budget-friendly option.
Flexible
Short-term plans typically offer more flexibility in terms of coverage duration. Depending on the insurer and state regulations, they can be purchased for as little as 30 days or up to a year. It can be helpful for individuals who only need temporary coverage or are waiting for open enrollment to enroll in a long-term plan.
Customised Coverage
These plans may offer customisable coverage options, allowing individuals to select the plan that best suits their needs and budget. While these plans may not offer comprehensive coverage like long-term plans, they can be tailored to provide essential benefits such as doctor visits, emergency care, and prescription drug coverage.
No Claim Bonus (NCB)
A No Claim Bonus (NCB) is provided to short-term insurance policyholders who have not filed any claims during the previous policy year. The NCB can be utilised to receive a discount on renewal premiums or to increase the insured sum amount.
Easy and Quick Enrollment
Short-term plans often have simpler enrollment processes and quicker approval times than traditional ones. This is beneficial for individuals who need coverage immediately and cannot wait for a lengthy application process.
Inclusions Under Short-Term Health Insurance
Under this plan, the following medical procedures are covered:
- Hospitalisation expenses
- Day-care treatment
- Ambulance charges
- Organ donor expense
- Surgery and operation theatre expenses
- Pre and post-hospitalisation expenses
Eligibility Criteria for Short-Term Health Plans
To apply for the plan, individuals need to meet certain eligibility criteria the insurance provider sets. Usually, the requirements set by different insurance providers differ, but here are some of the general ones to consider:
- Age Eligibility: Individuals between 18 and 65 can qualify for short-term medical insurance India plans.
- Pre-existing Conditions: Some insurers may impose restrictions on pre-existing conditions, potentially excluding or limiting coverage for such ailments.
- Residency Requirement: These medical insurance plans in India are typically accessible to country residents, encompassing citizens and non-citizens living within its borders.
- Health Disclosure: Applicants may need to furnish a health declaration detailing their medical history and existing conditions.
Wrapping Up
Short-term health insurance in India offers temporary coverage for individuals seeking immediate coverage. Its cost-effectiveness, adaptability, and rapid accessibility make it a valuable choice for those encountering transitional phases or awaiting the commencement of long-term coverage.
Niva Bupa is the best health insurance company in India that offers numerous medical insurance plans according to the individual's requirements and budget. With a network of 10,000+ cashless hospitals, we ensure that policyholders stay financially secure during emergencies and can avail themselves of the best treatment possible. Our plans are especially tailored to help policyholders meet their needs while ensuring they can enjoy the tax benefits.
So, wait no more! Safeguard your well-being with Niva Bupa's medical insurance plan.
Secure your Health with comprehensive insurance plans from Niva Bupa
Popular Searches - Health Insurance | Medical Insurance | Best Health Insurance Plans | Health Insurance Plans | Health Insurance Policy | Best Health Insurance Plans | Best Family Health Insurance | Best Mediclaim Policy | Best Health Insurance In India | Best Medical Insurance In India | Best Health Insurance Plans In India | Best Health Insurance Policy In India | Mediclaim | Best Health Insurance For Senior Citizens In India | Best Health Insurance | Health Insurance With Opd Cover | Mediclaim Insurance | Medical Insurance Plans | Best Health Insurance Company in India | Critical Illness Insurance | Personal Accident Insurance | Mediclaim Policy | Individual Health Insurance | Pregnancy Insurance | Maternity Insurance | | Best Family Health Insurance plans in India | Best Health Insurance company | Family Health Insurance | Best Health Insurance plans for Senior Citizens | Mediclaim Policy for Family
Health Insurance Schemes - Chief Ministers Comprehensive Health Insurance Scheme | Employee State Insurance Scheme | Swasthya Sathi Scheme | Pradhan Mantri Matru Vandana Yojna | Government Health Insurance Scheme | Dr. YSR Aarogyasri Scheme | Pradhan Mantri Suraksha Bima Yojna | Health Insurance Deductible | West Bengal Health Scheme | Third Party Administrator | Rashtriya Swasthya Bima Yojana | In Patient Vs Out Patient Hospitalization | Mukhyamantri Chiranjeevi Yojna | Arogya Sanjeevani Health Insurance | Copay Health Insurance | Cashless Health Insurance Scheme | Mukhyamantri Amrutum Yojna
Travel Insurance Plans - Travel Insurance | International Travel Insurance | Student Travel Insurance | Travel Insurance USA | Travel Insurance Canada | Travel Insurance Thailand | Travel Insurance UK | Travel Insurance Germany | Travel Insurance Bali | Travel Insurance Vietnam | Travel Insurance Dubai | Travel Insurance Singapore | Schengen Travel Insurance
Top Hospitals - Best Hospitals in Chennai | Top Hospitals in Delhi | Best Hospitals in Gurgaon | Best Hospitals in India | Top 10 Hospitals in India | Best Hospitals in Hyderabad | Best Hospitals in Kolkata | Best cancer hospitals in Bangalore | Best cancer hospitals in Hyderabad | Best cancer hospitals in Mumbai | Best cancer hospitals in India | Top 10 cancer hospitals in India | Top 10 cancer hospital in Delhi | Multi Speciality Hospitals in Mumbai | Multi Speciality Hospitals in Chennai | Multi Speciality Hospitals in Hyderabad | Super Speciality Hospitals in Delhi | Best Liver Hospitals in Delhi | Best Liver Hospitals in India | Best Kidney Hospitals in India | Best Heart hospitals in Bangalore | Best Heart hospitals in India | Best Heart hospitals in Kolkata | Best Heart hospitals in Delhi
Others - Top Up Health Insurance Policy | Corporate Health Insurance | Health Card | Section 80d of Income Tax Act | Ayushman Bharat | Health Insurance Portability | GoActive Family Floater Plan | Health Companion Family Floater Plan | Health Premia Family Floater Plan | Health Pulse Family Floater Plan | Health Recharge Family Floater Plan | Heartbeat Family Floater Plan | Money Saver Family Floater Plan | Saral Suraksha Bima Family Floater Plan | Senior Citizen Family Floater Plan | Super Saver Family Floater Plan | Corona Kavach Family Floater Plan | Hospital Cash Insurance | Cashless Health Insurance | Health Companion Price revision | Heartbeat Price revision | ReAssure Price revision
COVID - Omicron | Coronavirus Health Insurance | Covid XE Variant | Norovirus
www.nivabupa.com
+91 11 41743397
1860-500-8888
14th Floor, Capital Cyberscape, Sector 59, Gurgaon
- Insurance is a subject matter of solicitation. Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) (IRDAI Registration Number 145, Category:Health), 'Bupa' and 'HEARTBEAT' logo are registered trademarks of their respective owners and are being used by Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) under license. CIN: U66000DL2008PLC182918
- 1 Niva Bupa processes pre-authorisation requests within 30 minutes for all active policies, subject to receiving all documents and information(s) up to Niva Bupa’s satisfaction. The above commitment does not include pre-authorisation settlement at the time of discharge or system outage.
- 2 Since Inception refers to claim data from 2010 till December 2023.
- 3 ReAssure 2.0 Premium: The premium is including taxes and for Bronze Variant, for a 25-year-old individual living in Delhi.
- 4 Aspire Premium: The premium is including taxes and for Gold+ Variant, for a 25-year-old individual living in Delhi.
- 5 Senior First Premium: The premium is including taxes and for Gold Variant, for a 65-year-old individual living in Delhi.
- 6 Health Premia Premium: The premium is including taxes and for Silver Variant, for a 25-year-old individual living in Delhi.
- 7 SmartHealth + Disease Management Premium: The premium is including taxes and for Disease Management Gold Variant rider when bought with ReAssure 2.0 Bronze variant with Base Sum Insured of 5 lacs, for a 25-year-old individual living in Delhi.
- Beware of spurious / fraud phone calls! Do not share your confidential information like Debit / credit card number, Internet Banking User ID/Password, Pin, CVV, OTP, etc. with anyone. Avoid clicking on attachments / payment link received in mails / message from unknown sources. IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment or premium. Public receiving such phone calls are requested to lodge a police complaint. Do not respond to unsolicited and attractive offers received through unidentified calls, emails, SMSs, and other social media platforms. Beware of misleading telephone calls from people posing as Niva Bupa officials, agents, IRDAI Officials, Officials from ECI (Office of the Executive Council of Insurers) etc. and offering alluring benefits or sharing false information on your policy or on Niva Bupa. Niva Bupa shall not be responsible for any loss or damages whatsoever for any acts or omissions arising out of such spurious calls, and all customers are advised to contact our customer care at 1860-500-8888 and verify any representations or promises made by any such spurious callers before acting upon the same.