What Are The Pros And Cons Of Having Two Health Insurance?

Health insurance is a pretty common thing these days, and everyone’s opting for one. Which is a good thing since health insurance can save you from the financial burden when any unfortunate mishappening happens later on in life. And you may have got advice that you should opt for two or multiple health insurance for better coverage. This is somewhat true, but there are other sides to signing up for two or more health insurance plans or expat health insurance plans. You may have questions like, what are the pros and cons of having two health insurance?

Well, thankfully, today’s post is going to be all about that. We will go over various pros and cons of multiple health insurance, to help you decide when it is a great option and when it’s not. So make sure to stick with this post till the end because some interesting information is waiting for you.

Health-Insurance pros and cons

Advantages Of Having Two Health Insurance

While some people say opting for two health insurance at once is not a good choice, there are some benefits as well. Let’s go over each benefit or advantage of having two health insurance.

1. Better Coverage

The most prominent and biggest advantage of multiple health insurance is that you get better coverage. For example, depending on your insurance plan, if in the future the claim amount from one insurance plan isn’t enough to cover all the expenses. In that case, having multiple health insurance can save you from paying for the expenses out of your own pocket.

Or you can take another approach where you buy one health insurance plan for yourself, or any other family member, and another one for the whole family. This is also an example of having two health insurance, and for sure, this way you’d have better coverage. However, we advise one thing to everyone who’s going down this road, always make sure to mention your previous health insurance details before signing up for another one. By doing that, you won’t have any problem claiming both insurances when anything unfortunate happens.

2. Portfolio Diversification

When buying a health insurance plan, you can be pretty specific. For example, if there’s a medical family history in your family tree, there’s a chance that you might get diagnosed with a critical disease in the future. In that case, having two health insurance is a great choice. You can opt for one insurance plan specifically for severe medical conditions like cancer, diabetes, or anything like that, and another one would be a personal or family floater health plan. It is a great way to be prepared for the worst medical condition or illness without the burden of medical expenses. And by doing this, you are directly diversifying your insurance portfolio, which is ultimately beneficial to you in the end.

3. Critical Medical Condition Coverage

Heart diseases, cancer, and severe strokes are pretty common these days since we are living in a world where following a proper healthy lifestyle has become like a dream. The work-life balance of many people has shaken up badly these days, which causes a lot of health problems. And you should be prepared for that, and opting for health insurance is a better option now than ever before. Some experts say that you should opt for a regular family or personal health insurance plan, and along with that, either you can choose a plan for critical illness, or another level-up plan would be a great choice.

4. Low Dependency On Single Insurance Plan

When it is time to claim health insurance, sometimes it happens when the insurance company rejects the claim or some portion/percentage of the claim for valid reasons. If this happens to you, then you’d have to pay for the medical expenses out of your own pocket. That’s why if you opt for two or multiple health insurance, then you can lower your dependence on one particular insurance plan. If somehow, one claim got rejected, you can still rely on another one.

5. Additional Benefits

Different policies offer various additional benefits, such as maternity coverage, critical illness coverage, or wellness benefits. With two policies, you can potentially access a wider range of benefits.

6. No-Claim Bonus

You can accumulate a No-Claim Bonus (NCB) on both policies, which can reduce your premium costs over time.

Disadvantages Of Having Two Health Insurance

For sure, there are some downsides to having two health insurance, let’s talk about the most prominent ones.

1. Higher Premium Expenses

It should be obvious that if you are signing up for multiple health insurance plans, it’ll cost you much higher. And you should only do that when you are capable of handling both insurance plans. Since it is a very obvious point, people are already prepared for that when considering two health insurance plans.

2. Becomes Confusing

With two health insurance, you can still handle the dues and monthly payments, but if you are going higher than that, then it may get confusing and overwhelming for you at some point. However, managing two health insurance plans seems like a feasible task, and many people actually do that pretty easily. So yeah, if you are financially capable, and good at managing payments, you’re off to a good start.

3. Claim Process

With one health insurance, the claim process is much easier, and straightforward. However, it may get a little complex when you have more than one insurance plan. Not just the complexity of the claim process increases, but it takes time as well. So when opting for multiple health insurance, make sure to consider this factor, so you won’t have any problems in the future.

4. Portability Issues

If you want to switch or port one of your policies, it might be challenging, as not all policies can be ported to another insurer.


Sometimes one health insurance plan is not enough because every individual and family has different insurance needs. Well, if you are considering the possibility of having two health insurance for yourself or your family, then this post will help you a lot. Because we have tried our best to explain all the positives as well as negatives of having two health insurance.

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Sumit Kumar Yadav has experience analyzing business and finance of big to small companies. Loan, Insurance, Investment data analysis are his key areas.