Individual Insurance

Individual Insurance

An individual health insurance is a type of health insurance plan where in only one person can be covered in each plan. If you are single or do not have kids, you can buy an individual health plan for yourself and your spouse and enjoy the sum insured amount on an individual basis. The premium is slightly higher as compared to a family floater plan because of the comprehensive coverage and the sum assured that is offered.

Key Features:

• This kind of health insurance for individuals offers cover only for the insured individual.
• The insurance provider covers certain medical costs of the insured based on the premium paid.
• covers hospitalization charges, surgery costs, room rent, doctor's fee and laboratory tests etc.
• Lifetime renewal.
• Tax deductions under section 80D of the Income Tax act.
• The insured has to pay a predetermined amount for certain health care services. This is called co-payment.
• Pre and post hospitalization expenses are covered under this plan.
• Provides coverage for critical illness.

Who should buy this plan?

• The plan is best suited for individuals with higher health risks.
• Single individuals with family members who are already insured.
• An individual who wants to earn the benefit of the sum assured rather than floating sum assured.
• Individuals who want to renew the policy without having to worry about any age restrictions.
• An individual who wants higher protection than what is offered under a family floater plan.
• Cashless facility for claim settlement can be availed in this plan.