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Individual health insurance refers to insurance programmes that provide coverage for a person’s costs associated with maintaining their general health and wellness. Thus, individual insurance provides financial protection against a variety of illnesses that necessitate hospitalisation according on the amounts covered and the amount of premiums paid by the individual. These individual plans offer coverage against costs such as hospitalization, ambulance charges, day care charges and many others. Also, the premium payment made for a single-person health insurance plan entitles the insured to Section 80D income tax benefits.
Below are some of the best features of an individual health insurance policy:
· The health insurance for individuals provides coverage solely for the insured person.
· The insurer here protects the policyholder against certain medical expenses as per the amount of premium paid by him/her.
· Under individual health insurance plans, hospitalization charges are covered as part of the policy.
· The individual policies come with Lifetime renewal.
· These plans allow tax deductions as per section 80D of Income Tax.
· The individual plans provide coverage costs for surgeries, hospital rooms, doctor’s fees and for tests done in the laboratory among others.
· In the individual mediclaim policy, the person covered under the plan requires to pay a fixed amount called co-payment for availing health services.
· In these plans, pre, post hospitalization costs are included.
· They also allow coverage against critical diseases.
Below are the top 4 Individual Health Insurance Plans available Online in India:
· Niva Bupa Health Premia Individual Health Insurance Plan
· Star Medi Classic Insurance Policy
· Bajaj Allianz Individual Health Guard
· Personal Protect Insurance Policy