How a multi-year health insurance policy can reduce your premium outgo?
Discounted rates, a set price for the duration of the policy, a lack of yearly renewal procedures, and consequently ongoing protection are all advantages of paying multi-year premiums. There is a growing sense of health insurance awareness among millennials and Gen Z in the face of increased lifestyle diseases, unanticipated health risks, skyrocketing healthcare expenses, and financial instability. Many working professionals in these two groups are covered by group health insurance. However, these policies only provide coverage for the policyholder while they are actively employed and provide an average sum insured of Rs 2–5 lakh, which is quite a merger given the escalating cost of healthcare. In order to secure the best possible level of medical protection, getting a separate health insurance policy—whether it be a standalone or family floater—has become a justifiable need. It guarantees that one is consistently and effectively safeguarded. ...