About Individual Health Insurance
A health insurance is an insurance that offers coverage for medical expenses of the policyholder in case he/she is hospitalized or has to undergo expensive medical treatment. General provisions under a health insurance plan include cashless treatment at network hospitals, reimbursement of hospitalization charges and coverage for pre and post hospitalization expenses.
Types of Health Insurance
Insurance needs for individuals may vary from one another. For instance, some individuals are prone to certain illnesses due to hereditary conditions or lifestyle choices. Thus, they might require extra provisions under their health plan. No matter what the type of policy is, never compromise on the mediclaim policy. As a result, insurance providers offer different plans such as -
- Individual Health Insurance Plan
- Family Health Insurance Plan
- Senior Citizen Health Insurance Plan
- Critical Illness Insurance Plan
- Maternity Health Insurance Plan
Advantages of Health Insurance Plan
● Cashless Treatment:
Most insurance providers have tie-ups with popular nursing homes and hospitals across the country. You can enjoy cashless facility on your insurance for getting your treatment at any of these network hospitals.
● No Claim Bonus:
No-claim bonus is a reward offered by insurance providers when a policyholder does not make any claim during an entire insurance tenure. This reward could be in the form of a waiver on premium amount upon renewal or an increment on the sum assured amount.
● Free Medical Check-ups:
A competent health insurance plan offers provisions for free medical checkups.
● Tax Benefits:
You can enjoy tax benefits on the premium paid towards your health plan as a deduction under section 80D of the income tax act.
Individual Health Insurance Plan
An individual health plan offers medical coverage to an individual against certain diseases. Unlike family or maternity health plan where more than one person is covered in a single policy, an individual health insurance offers coverage for a single person only. The individual health policy at Finserv Markets covers your health check-up charges every three policy years and covers your ambulance charges up to Rs. 20,000 per policy year.
Benefits of individual health insurance
Policyholders can enjoy dynamic coverage under an individual health insurance plan. The Individual Health Insurance plan available at Finserv Markets, offers the following benefits:
- High sum assured: Policyholders can avail a high sum assured (up to Rs .50,00,000) under an individual health plan
- Reinstatement of sum assured: A major USP of the Individual Health Insurance policy is the facility of reinstatement of the sum assured. You can now reinstate 100% of your sum assured post policy exhaustion, in case of the recurrence of the same illness.
- Coverage for Ayurvedic /Homeopathic Hospitalization: This individual health policy offers the highest coverage for ayurvedic/homeopathic hospitalization in India, up to Rs. 20,000.
- Free Health Check-ups: Even if you make a claim under your health insurance plan, you can still enjoy free health-check once in 3 policy years
- Pre and Post Hospitalization coverage: You can enjoy coverage for medical expenses incurred 60 days prior to immediate hospitalization and 90 days after hospitalization.
- Other covers: A policyholder can also enjoy added coverages such as organ donor benefit, cataract surgery cover, bariatric surgery cover up to Rs. 5,00,000, maternity benefits and newborn cover under the individual health plan.
- Ambulance and Convalescence Benefit: A policyholder can get benefit up to Rs. 20,000 annually for ambulance charges. You can also enjoy convalescence benefit for more than 10 days of continuous hospitalization.
- Daily Cash Benefit: In case of hospitalization, a policyholder can enjoy cash benefit for 10 days per policy year.
- Cumulative Bonus: A policyholder can enjoy 10%-100% increment on the base sum insured for every claim-free year.
Buy Health Insurance Online
Buying an individual health insurance on Finserv Markets is extremely simple. All you have to do is follow these simple steps:
Step 1: Choose your health coverage
Step 2: Fill an online form submitting your personal details, past medical history, and existing medical conditions.
Step 3: Get your insurance form assessed by our insurance agent.
Step 4: Complete the payment procedure to activate your insurance policy
Health insurance calculator
Most insurance providers provide a health insurance calculator to calculate your premium amount. Factors such as your insurance term, medical background, familial medical history, and personal medical history are taken into consideration while calculating your premium amount.
Following are the steps to use an online health insurance calculator-
Step 1: Select your health plan
Step 2: Select the tenure on your policy
Step 3: Submit your health cover
Step 4: Submit personal details such as age, gender, existing medical conditions, past medical history, etc.
FAQs
Q. What are the exclusions in an individual health insurance plan?
A. Although health insurance plans offer extensive coverage, there are certain exclusions to your policy, such as-
- Diseases contracted within 30 days of buying an insurance plan
- Expenses incurred for any cosmetic surgeries
- Intentional self-injury
- Expenses incurred for inoculation/ vaccination
Q. How can I file a claim on my individual health insurance plan?
A. Once discharged from the hospital, you can collect all the medical bills and receipts from the hospital and upload them online on the insurance provider’s website. Once you submit these documents, the insurance agent would assess your insurance claim. If all documents are in place, your claim would be approved.
Q. Can I enhance my sum assured?
A. You can enhance your sum assured only at the time of policy renewal.
FAQs On Individual Health Insurance Benefits
-
✔️What are the exclusions in an individual health insurance plan?
Although health insurance plans offer extensive coverage, there are certain exclusions to your policy, such as-
Diseases contracted within 30 days of buying an insurance plan
Expenses incurred for any cosmetic surgeries
Intentional self-injury
Expenses incurred for inoculation/ vaccination
-
✔️How can I file a claim on my individual health insurance plan?
Once discharged from the hospital, you can collect all the medical bills and receipts from the hospital and upload them online on the insurance provider’s website. Once you submit these documents, the insurance agent would assess your insurance claim. If all documents are in place, your claim would be approved.
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✔️Can I enhance my sum assured?
You can enhance your sum assured only at the time of policy renewal.
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