Multi-year health insurance: Lock in premiums, but check exit rules first
Last Update Date: 05-10-2026
Published by Business Standard
Abhishek Kumar's role: Quoted
Abhishek Kumar said the large upfront payment may make multi-year cover unsuitable for senior citizens and people with uneven incomes, and cautioned against financing the premium with a loan.
More of Abhishek's views on insurance
This article explains multi-year health insurance policies, where premiums for several years are paid upfront. It covers the premium lock-in and discounts, limits on porting and mid-term changes, refunds on cancellation, Section 80D treatment, renewal pricing and who may or may not find these policies suitable.
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Multi-year health insurance: Lock in premiums, but check exit rules first