Hassle-free renewal- With single-year health insurance plans, you need to renew every year. But with multi-year health insurance, the renewal times are much longer.\rWaiting period coverage- The waiting period between the renewals is zero in the case of multi-year health insurance plans\rMinimal paperwork- With multi-year health insurance plans, the paperwork reduces substantially. \rExtensive health coverage- Health emergencies can come anytime, and with extended health coverage, you can financially face any health emergency. You can get the best treatment without worrying about the costs.\rTax exemptions- With multi-year health insurance plans, you can get tax benefits of up to Rs 50,000 a year, depending on the policy chosen. \rFixed premiums- With multi-year plans, the premium remains the same, and any revision in the premium because of inflation or otherwise does not affect you as you have locked in the premiums.