No Room Rent Capping | No Medical Check-up up to 55yrs | Tax Benefit up to Rs.75,000 | Buy Health Insurance starting @ ₹160 pm Check Plans

An individual health insurance plan is a type of health insurance that provides coverage for medical expenses in connection with medical treatment for a single individual. With such an insurance plan, you have the freedom to choose the sum insured amount and the tenure of the plan at the time of purchase or renewal.  Also, you can enhance the coverage offered by an individual health insurance plan further by opting for add-ons called riders. To do this, you need to pay a nominal additional premium. 

Health Insurance Plan

Features 

Premium 

Check Plans 

 

Bajaj Allianz Extra Care Health Insurance

  • Ambulance cost coverage

  • Pre and post-hospitalization cost cover

  • Floater plan facility

  • Top-up cover 

  • No requirement of medical tests

 

 

Starts at ₹2,194

 

 

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Aditya Birla Active Assure-Diamond Health Insurance

  • Insured sum reload by 150%

  • 586 days of post-hospitalization medical expense coverage 

  • Emergency assistance worldwide

  • 30% of the premium is reward via HealthReturnsTM

 

 

Starts at ₹3,887

 

 

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Care Health Insurance Plan

  • No limit for reimbursement of medical expenses like consultation, ICU room rent, etc.

  • 30 days pre-hospitalization and 60 days post-hospitalization expense coverage

  • 10% coverage for the domiciliary expense.

 

 

Starts at ₹5,277

 

 

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Features of Personal Health Insurance

There are a ton of varied health insurance plans available in India like senior citizen health plans, family health insurance and many more. One of the most popular forms of health insurance is medical insurance plans for individuals, where only one person benefits from the coverage. Individual insurance plans have a fixed sum insured which the policyholder/insured can use to pay off their eligible medical bills till the value of the sum insured gets exhausted.

 

Insurance companies calculate the premiums for individual insurance plans based on the applicant’s age, the coverage required, medical history, pre-existing conditions, and some other factors. You will have to disclose any pre-existing conditions to the insurance company at the time of buying a policy. It’s a good idea to get health insurance coverage early in your life so that your premium amount is less. Here are some of the things you should look for when buying a personal health insurance plan:

 

  • Sum insured

  • Minimum entry age and renewability clause

  • Room rent limit

  • Inclusion and exclusion of diseases and expenses

  • Type of No Claim Bonus

  • Other additional benefits

Benefits of Individual Medical Insurance Policy

Cheaper Premiums

One of the main benefits of individual medical insurance is the cheaper premiums that you can take advantage of. Family insurance plans usually have higher premiums as they cover multiple people. In contrast, personal health insurance plans have cheaper premiums as they only cover a single person. Your premiums can also go down if you are a young person in good health.

Cashless Benefits

Another advantage of health insurance plans is the cashless benefit. You just need to inform your health insurance provider before or immediately after hospitalisation, fill the authorisation form with the third-party administrator (within the hospital premises) and you are done. You don’t pay anything unless your hospitalisation costs exceed the sum insured limit. To enjoy  cashless hospitalisation, you must be undergoing treatment in a hospital or nursing home that is part of the insurance provider’s network.

Pre and Post Hospitalisation Cover

Depending upon the insurance provider, you can also get coverage on medical expenses that you have incurred before or after hospitalisation, up to 60 days. However, different insurance companies may have different periods of pre and post coverage, depending on their plans.

No Claim Bonus

Some insurance providers offer discounts on premiums of your health insurance policy for every  no claim bonus year. Others offer a facility called cumulative benefit, which increases your sum insured by a certain percentage for every year that goes without a claim.

Tax Benefits

You can get yearly tax deductions up to an amount of ₹25,000 if you are below 60 years, and ₹50,000, if you are above 60 years on health insurance premiums. These deductions are available under  Section 80D of the Income Tax Act, 196

What's Covered & Not Covered in Individual Health Insurance

Below are the details about the inclusions and exclusions of individual health insurance plan: 

Inclusions

Exclusions

In-patient hospitalisation expenses 

Any medical costs incurred following the termination of individual health policies

Pre and post-hospitalisation

Any current medical condition you had before purchasing insurance

Day care treatment

Intentional self-inflicted harm, suicide attempt, an act of self-destruction, etc

Road ambulance cover

Diseases or impairments caused by any sexually transmitted or acquired disease

Organ donor expenses 

Pregnancy-related illnesses and complications, as well as those connected to labour and pre-and postnatal care, are not covered

Alternative treatment 

Cosmetic or cosmetic treatments, as well as any type of plastic surgery

How to buy an Individual Health Insurance?

In order to apply for individual health insurance, you must follow the below-listed steps:

 

  • Step 1: Go to the ‘Health Insurance Premium Calculator’ page.

  • Step 2: Fill in the application form

  • Step 3: Your details will be verified by the organisation

  • Step 4: Make an online payment

  • Step 5: The policy will be issued to you in just a few minutes

Why Choose Bajaj Markets?

With us, you can get access to the best individual health insurance plan in no time, so let’s understand why Bajaj Markets is the ultimate choice!

  • Trusted Companion

We are an entrusted financial partner for more than 100 million customers all over the country. You can enjoy our services as well and get value for your money with the best of facilities!

  • Quick Process

No third party involved, no long-waits and zero hassles - these are only more reasons to choose us.

  • Reinstatement Benefit

Make the most of your health insurance plan and get a reinstatement benefit on exhausting your sum insured.

  • Personalised Insurance Plans

Choose a personalised policy that is tailor-made to meet your insurance requirements and you shall have nothing to worry about!

  • Extensive Coverage

Avail extensive personal health insurance coverage with the best facilities at over 6000+ network hospitals across India.

Tax benefits in Individual Health Insurance

Apart from other benefits, individual health insurance provides tax advantages as well. Here’s a closer look. 

  • Tax Advantages for Single-premium Health Insurance Policies

According to the most recent tax rules, Section 80D allows for a tax deduction for health insurance premiums paid in one lump amount for a multi-year plan. Additionally, the total premium paid for the policy term will be used to determine the tax-deductible sum. This shall be restricted to amounts no greater than ₹25,000 or ₹50,000, as applicable.

  • Reimbursement for Routine Health Examinations

Expenses for diagnostic tests as well as out-of-patient department (OPD) consultation fees are also free from taxes in addition to hospitalisation costs. Tax benefits are also available for payments made in cash. Unlike other medical bills, which must be paid for using cash, cheques, or online banking in order to qualify for tax advantages.

Things to Consider While Buying Individual Health Policy

Here are some key factors that you must keep in mind to purchase the best personal health insurance plan:

  • Your Insurance Needs

It is crucial to know your insurance requirements before proceeding to buy personal medical insurance. Depending on your health condition and medical services that you may want for the future, create a list of required coverage facilities. You can also keep an ideal sum insured amount in mind to help you get a sufficient cover.

  • Add-on Covers

One of the essential individual health insurance benefits is the add-on cover that enhances your plan. The add-on options may vary from insurer to insurer. Thus, ensure to check the add-on covers available with various insurance providers.

  • Network Hospitals

Network hospitals enable you to enjoy cashless facilities while seeking medical treatment. Therefore, it is vital to know the list of network hospitals and opt for an insurance company that has a wide network chain across the country.

  • Speedy Claim Settlement

The most important part of health insurance is the health insurance claim process. Be it a cashless claim or a reimbursement claim, the process should be simple and hassle-free. To learn more about the claim settlement services offered by an insurer, you can easily check online.

Claim Process for Individual Medical Insurance

Here are the steps to follow for filing a claim for your individual health insurance. 

 

  • Step 1: Visit the Bajaj Markets website

  • Step 2: Register your claim online

  • Step 3: Provide the supporting documents

  • Step 4: The insurer will verify your claim

  • Step 5: Your claim will be approved following the verification 

Health Insurance Plans Available at Bajaj Markets

Frequently Asked Questions on Individual Health Insurance

Individual health insurance is generally cheaper than family floater insurance plans. The cost of the insurance also depends on the sum assured.

Insurance provided by employers is generally cheap, as they buy group insurance for a large number of employees. However, the sum assured and benefits may be lower than individual insurance.  

Yes. Individual health insurance policies cover a cashless treatment facility. Your insurance provider pays your hospitalisation cost straight to the network hospital where you were receiving treatment under this option. You can use cashless hospitalisation at any of your insurance company's network hospitals.

Yes. All plans for individual health insurance include waiting periods. Initially, you are not permitted to file a non-accidental claim within the first 30 days of the policy's start date. After a waiting time of one to three years depending on the plan, certain illnesses and medical treatments including arthritis, joint replacement surgery, etc. are covered. Similar to this, you can submit a claim for pre-existing conditions following a 2 to 4 year waiting period in accordance with the terms of the policy.

If you chose to add on a critical illness add-on policy, you can file a claim 90 days after the policy's start date. Additionally, the claim will be approved provided that it survives for 30 days.

You can enhance the sum insured of your Bajaj Allianz individual health insurance policy only at the time of renewals. The enhancement would be subject to underwriting approval based on the declaration on the application.

Health Insurance Reviews

Hassle Free Health Insurance Application Process
I have taken an individual health insurance policy to cover myself. The online application process was quite smooth. It is one is the best investment I have made in my career.
Samar
Quick Service and Good Product Features
I applied for an individual health insurance policy, it is quite suitable for an individual like me who has just started working. I was satisfied with the inclusions and exclusions and bought a 3 lakh cover for myself. Thank you for your great services.
Kaiser
They Provide The Best Health Insurance Plan
I purchased a Bajaj Allianz individual health insurance plan for myself. The policies are good and completely apt for my needs. Was overwhelmed with their service and with the fact that all key hospitals in my locality are covered under their network.
Mary
Secure & Quick Application Process
After a friend recommended, I got an individual health insurance policy from Bajaj Allianz health insurance. I had a really good experience while purchasing the plan on the online platform. The process was explained in detail & the claim process is also very smooth.
Ravi Jain
Super-fast Claim Settlement
During my recent hospitalization for a minor surgery, I experienced the quick and hassle-free claim settlement process of the Bajaj Allianz individual health insurance policy. My claim request was approved within very less time & I did not have to worry about the hospital bills. Great plan!
Varun Awasthi
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