What is individual health insurance ?

Health insurance has become an important investment. Coping up with an emergency situation can become nightmare if you don’t have good health insurance.

Why do you need an individual health insurance plan?

There are several benefits of health insurance plan.

1 )  Insured amount is solely used for insured members. There is guaranteed coverage in case of medical emergency.

2 )  By paying an additional premium, one can also include his/her parents. 3 )  Here is discount on premium in case you have more than two members.

4 )  You will get cashless benefit. 5 )  Health insurance providers have huge network of hospitals, making it easy to avail cashless benefits.

Cons of Individual Health Insurance plan

1 )  Individual health insurance plans are costlier than floater health insurance plans.  2 )  More suitable for younger families.

Key Features Of Individual Health Insurance Plan

1 )  It provides complete coverage to policyholder. 2 )  There is no maximum age for policy renewal.

3 )  In case you register two or more family members, then you can get discount on premium. 4 )  Some policyholders also have provision to include in-laws in policy.

5 )  Policyholder also gets tax benefits under Section 80D of Income Tax Act, 1961. 6 )  It covers critical illness.

7 )  It provides coverage for pre and post hospitalization. 8 )  It is good for individuals who have medical issues.

What does an individual health insurance plan cover ?

1 )  Medical expenses 2 )  Day care cost 3 )  Cashless coverage 4 )  Lifelong renewability

5 )  In-patient hospitalization 6 )  Domiciliary hospitalization 7 )  Organ donor expenses 8 )  AYUSH treatment 9 )  Emergency ambulance

Read eligibility, documents required before investing in an Individual Health Insurance Plan.