Taking Control of Your Health: A Guide to Individual Insurance

The necessity of having a healthcare plan cannot be stressed enough. It is no longer an option, it is a basic need. A health policy ensures financial security and aids all your medical needs in the future. With a premium that is to be paid annually, you can avail of medical services easily in your time of need. You wouldn’t have to bear the burden of finances.

Health policies are of various types, which are curated carefully to fulfil the needs of every individual. This blog will serve as a guide for any individual trying to opt for individual health insurance. This guide will not only tell you the basics of individual mediclaim policy but also help you choose the best individual health insurance.

What are the Different Types Of Healthcare Insurance?

With advancing technology, healthcare insurance provided by companies is getting more inclusive and flexible for individuals. Here are a few types of health policies and who are they applicable for:

What is an Individual Health Policy?

Individual healthcare policy provides coverage for a single individual, i.e., it works on an individual sum-insured basis. If you avail individual insurance, then the sum insured paid for every member of the family will be separate. Each individual can avail full benefits of the insurance, unlike a family floater plan which floats among the individuals of the family.

What are the Key Features and Benefits of Individual Health Policy?

• It provides coverage solely focused on one person ensuring complete safety.
• Often the individual health plan offered by the insurance company ensures wider coverage than other types of health policies.
• The individual mediclaim policy comes with lifetime renewability.
• Add-on covers are available so that the individual can have a plan that caters to their specific needs.
• It also offers tax benefits under Section 80D of the Income Tax Act.

What does an Individual Health Policy Cover?

An individual health insurance policy covers a list of different things and hence is one of the most comprehensive types of healthcare plans.

• Day-care services 
• Pre and post-hospitalisation cover
• Health check-ups
• Organ donor expenses
• In-patient hospitalisation expenses
• Coverage for treatment from other sources
• Coverage of expenses for in-house treatment (domiciliary hospitalisation)
• Ambulance service

How is an Individual Health Policy Different From a Family Floater Health Policy?

To choose the best individual health insurance, you need to be aware of all the aspects so that you know what works best for you and your family. Here is a comparison between an individual health plan and a family floater plan.

Individual health policy is one of the most extensive health plans out there and, indeed, makes you feel like you are in control of your life. This guide explained, in a nutshell, the outline of individual insurance. So the next time you are out there to get your health policy, you know how to choose thehealth insurance

Niva Bupa offers many types of health plans and a very comprehensive individual healthcare policy as well. The salient features of the individual plan offered by Niva Bupa are;

• Cashless claim processing within 30 mins
• 24x7 services available
• Coverage ranging from 3 Lakhs - 1 crore
• Network of more than 8500 hospitals

Niva Bupa offers various plans with its reassurance plan premiums starting from ₹24 per day. Get your insurance today.