Individual Health Plan
Individual Health Insurance
It is finely said ‘Health is wealth’. If an individual is not well and is going through a tough time because of a serious disease, then how can he make money and earn a living for his family. Protecting your wellbeing initially should be a noteworthy objective separated verifying development in your profession. We never know when we will get ill/ hospitalized due to any disease or accident. For that, we need powerful backup support i.e. Individual Health Insurance which will protect us from all kinds of medical emergencies.
Individual Health insurance is a unique plan that gives coverage specific to individual needs. This is ideal for individuals who live alone or is inclined to critical diseases. To purchase Individual health insurance, the customers have an enormous amount of insurers offering coverage at an affordable rate with hefty discounts. Companies like Reliance General, Star Health, Apollo Munich etc are operating worldwide and giving health benefits every age of the individual.
The individual can purchase from minimum Rs 1 lakh to Rs 5 crore of the sum insured at many reasonable rates of premium.
Better Risk Control
The policyholder can get wellbeing from basic ailments, mishaps, afflictions, wounds through different restorative offices recorded in the approach.
You can save your annual tax by investing in individual health insurance under section 80D of the Income Tax Act.
Features Of Individual Health Insurance Policy
The individual medical coverage plan can be reestablished uniquely until the senior-most individuals arrive at the greatest time of inexhaustibility given by the backup plan. Ordinarily, the premium of individual wellbeing plan is somewhat more than the floater plan. The policy can be extended to members of the family like parents and in-laws. The policyholder can profit favorable circumstances until the arrangement slips. It is a great product for older families where the health risk is high. The individual health insurance plan provides coverage to the individual and costs slightly higher as compared to floater plans. Main features of this policy are:
1. It provides broad coverage for the medical treatment in case of accidents and illness which needs in-patient hospitalization
2. Some organizations likewise give inclusion on basic ailment
3. Covers ICU charges, boarding and cabin cost, indicative strategy prosthetic expenses, and so forth.
4. Customers between the age group of 5 to 60 years can take advantage of this plan, but this also varies from insurer to insurer
5. Lifelong renewal facility
6. Provides coverage against daycare procedures and emergency ambulance
7. All customers can take advantage of tax savings under Sec 80 D of Income Tax Act.
Importance of Individual Health Insurance Plan
There are several factors which makes it important to have an individual health plan. Having a medical coverage plan is crucial for the individual and for the family too. It is essential for health and financial wellness. Health insurance provides coverage against unforeseen medical expenses. You must buy it as soon as possible. There is a popular saying about the same
" Purchase medical coverage when you don't need it, since you may not get it when you need it.
Key Points of Individual Health Plan
Owning a medical coverage plan can truly spare you from the restorative conditions and can keep your investment funds from depleting. How about we check how everything goes
People who do not have any health plan whey suffer lots of issues at the time of health diseases, whereas those who have it, they get better care at the time of hospitalization. A restorative spread ensures true serenity and stable funds.
An individual wellbeing arrangement gives better access to human services offices. Many insurance companies send alerts to the customers related to where and when to have diagnostic screenings.
Covers Medicine & Drug Costs
It becomes quite hard for people to buy costly medicines for various diseases under normal circumstances. The individual health insurance policy covers such type of medical expenses.
An individual medical coverage plan helps clients to accomplish better monetary wellbeing. Many insurers provide discounts which help customers in saving money at the time of checkup or in case of hospitalization.
Advantage Of Best Individual Health Insurances
We always look for the benefits of a product before making a purchase of it. This habit of looking for benefits are also relevant to health insurance. Let’s count on the number of advantages it will offer
Provides cashless facility
Every insurer provides a list of network hospitals. If the policyholder gets admitted in any of the network hospitals then he/she does not have to pay anything because of the facility as insurers cover such expenses i.e Cashless Health Insurance
Covers pre and post hospitalization
Singular wellbeing approach may cover pre and post-hospitalization costs. The related standards rely on the safety net provider and the kind of plan chose
No claim bonus
The client will get the no case reward in the event that they don't document any guarantee in the strategy term period. Policyholders can utilize the equivalent to pay further premiums.
Some insurers provide the facility of the free checkup at select diagnostic centers and hospitals which saves your time and money.
You can avail tax benefits under section 80D when you buy an individual health insurance plan.