Health insurance has become an important investment for every individual. With the growing medical costs, and increasing prices of medicine and diagnostics, coping up with an emergency situation can become a nightmare if you don’t have a good health insurance plan. Insurance providers and financial institutions have a host of health insurance policies, and after the pandemic, even the Government of India has announced the Corona Kavach and Corona Rakshak policies. The sole objective of these policies is to ensure monetary support in a medical emergency. If you are looking for a health insurance plan, then you can begin with the individual health insurance plan.

A health insurance plan can be a life saviour in dire times; there are several benefits of a health insurance plan:

  • The insured amount is solely used for the insured members. There is a guaranteed coverage in case of a medical emergency
  • By paying an additional premium, one can also include his/her parents
  • here is a discount on the premium in case you have more than two members
  • You will get a cashless benefit
  • Health insurance providers have a huge network of hospitals, thus making it easy for you to avail the cashless benefits wherever you are.


  • The individual health insurance plans are costlier than the floater health insurance plans.
  • This plan is more suitable for younger families.
  • It provides complete coverage to the individual policyholder
  • There is no maximum age for policy renewal
  • In case you register two or more family members, then you can get a discount on the premium
  • Some policyholders also have the provision to include in-laws in the policy
  • The policyholder also gets the tax benefits under Section 80D of the Income Tax Act, 1961
  • It also covers critical illness
  • It also provides coverage for pre and post hospitalization
  • It is good for individuals who have medical issues

If you invest in a health insurance plan, then it will cover the following:

  • Medical expenses
  • Day care cost
  • Cashless coverage
  • Lifelong renewability
  • In-patient hospitalization
  • Domiciliary hospitalization
  • Organ donor expenses
  • AYUSH treatment
  • Emergency ambulance
  • Cosmetic surgery
  • Mental health issues
  • treatment of obesity
  • STDs
  • Dental treatment
  • Infertility
  • Self-inflicted injuries

Note:The disease coverage may vary from one insurance provider to another. So, before buying an individual health insurance plan, you must check the different provisions and then make a purchase.

Any individual who is 18 years of age and up to 65 years can invest in an individual health insurance plan. However, you must know that if you are 45 years of age or above, then you may be required to go for medical tests before buying health coverage.

  • Proof of age - An individual must furnish proof of age like Voter ID, Aadhaar card, PAN card, driving licence, birth certificate or passport
  • Proof of identity – This document is required for records; the insurance provider may ask you to submit an Aadhar card, voter ID, driving licence, or passport.
  • Proof of address – You will be required to submit a ration card, passport, driving licence, rent agreement, PAN card, or utility bills like electricity bill or telephone bill.
  • Passport size photographs
  • Duly filled form along with all the above documents.

If you are planning to buy an individual health insurance plan, then you will come across several options, but when it comes to narrowing down your options to one, then you have to consider the following parameters:

  1. Sum insured
  2. The health insurance premium
  3. Interest rate
  4. Tenure of the insurance
  5. Credibility of the insurance provider