The duration of the policy is from one to six months. This corresponds to its name – short term medical insurance. It can, at the most, go up to a year. Not only should the cost advantage, the utility factor of the plan also be given importance. It is then possible to arrive at an option which would best suit your requirements.
On the whole it is very similar to the regular insurance plan. You will get the same insurance card and along with it we are also given the limitations about various treatments and types. These advantages entice the niche category of students and unemployed people or those with temporary job. Also this is very nice for those who keep traveling a lot due to the nature of the job.
In some cases this plan is preferred by certain people who do not fall under the said group. This is to take advantage of the lower costs associated with it. The basic nature is somewhat like the conventional protection plan where in the policy holder is given a card which specifies the limitations to certain treatment costs.
One major difference with other long term policies is that this plan does not cover illnesses which the policy holder suffered from before taking such a policy. Also routine checkups are not covered under this plan.
In spite of its limitations the short term insurance plan is used to cover unforeseen eventualities and the resulting treatment costs. Retired people, students, unemployed workers etc constitute the usual participants to this scheme.