Ans: Long-term health insurance policies usually have a tenure of 2-3 years, unlike regular health policies which have a tenure of 1 year. This allows you to benefit from discounted premiums. Moreover, you can renew the policy less frequently.   In contrast, the main advantage of a short-term catastrophic plan is that it provides coverage for extremely high medical bills. People who do not have high medical bills throughout the year may want to opt for these plans.