Can one get life and health insurance together


Is there a single plan which can offer life and health insurance both together?


Actually yes insurance companies are doubling up and coming up with combi-plans which is a single plan offering both life and health insurance cover. The premium you pay for a combi plan is eligible for tax deductions under Section 80 (D) for health insurance and Section 80C for life insurance. On the downside In such a combi plan you do not have the advantage of tweaking the sum insured and cover as per your individual need which remains fixed.


First please understand that in health insurance there can be a indemnity plan which covers our medical expenditure as per the actual medical cost and there are standalone products eg:- Like critical illness plan , personal accident plans which gives you a lump sump amount on the occurrence of the above events.

Now there are companies which has a combo feature of both life and standalone plans like critical illness or personal accident, but till now there is no product which has a indemnity plan feature and life insurance together.

Please note that in the above combo of life + standalone plans , the primary feature would be life insurance.

Benefit such as critical illness and personal accident could be inbuilt or can be added as a rider


Hi Sourav,

The Insurance Regulatory and Development Authority (IRDA) has put in new rules where insurers can issue combi plans that cover both health and life. Earlier, insurers were allowed to offer combi plans, which included Term Life Insurance and Health Insurance only. But this new rule lets them include any Life Insurance plan (be it Term Plans, Endowment Plans, Money-back Policies, ULIPs, etc.) along with a Health Insurance plan in the combi plans offered.

What’s the benefit? With such combi plans, the insurance agents will be able to offer complete packages (any Life Plan and a Health Plan) to the customers. And the customers can enjoy benefits of both Health and Life Plans in a single policy. It will also be easier for them to manage both the plans since it comes in the form of a single policy.

Want to check out Health Insurance plans? Click here.

BB Expert