What is Individual Health Insurance?

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. And for every claim-free year, these insurance plans offer a No Claim Bonus (NCB), which is essentially a discount on the succeeding year’s premium. 

No Room Rent Capping | No Medical Check-up up to 55yrs | Tax Benefit up to 75k | Buy Health Insurance starting @ ₹244 pm

Top Individual Health Insurance Plans at Bajaj Markets

Instant Policy Renewal

Health insurance renewal plays a critical role in securing your health as it helps you enjoy continuity benefits and be prepared for medical emergencies. All you need to do is keep the relevant details ready, which includes your policy number, while you are renewing your individual health insurance online, and you are good to go.

Health Combo Plan

Bajaj Markets presents the 'Health Combo Plan', a unique health insurance policy that combines the features of two products, the Health Insurance Base Plan & the Health Insurance Top-up plan.

Features of Individual Health Insurance

There are a ton of varied health insurance plans available in India like senior citizen health plans, family floater plans, 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 a health insurance cover 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 Health Insurance

Medical insurance plans for individuals comes with many benefits. Here’s a look at them:

  • 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 claim-free 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, 1961.

What’s Covered

  • In-Patient Hospitalisation Expenses

    The individual medical insurance covers expenses incurred on hospitalisation for more than 24 hours.

  • Pre & Post Hospitalisation

    Covers expenses incurred during pre and post hospitalisation.

  • Day Care Treatment

    Coverage for treatments or procedures that do not require hospitalisation for more than 24 hours.

  • Road Ambulance Cover

    In case of a medical emergency, the plan covers the expenses resulting from transportation to the hospital via an ambulance.

  • Organ Donor Expenses

    Individual medical insurance covers the expenses incurred due to organ donor treatment and the costs of organ harvesting.

  • Alternative Treatment

    Includes coverage for alternative treatment such as AYUSH for better care.

  • Domiciliary Hospitalisation

    You are covered for getting treatment at home, in case you are unable to get a hospital bed or get transferred to a medical facility.

What’s Not Covered

  • Any medical expenses incurred after individual health plans expire.

  • Any existing medical complication or issue that you had before buying insurance.

  • Intentional self-inflicted injury, attempted suicide, an act of self-destruction, etc.

  • Diseases or disabilities resulting from any sexual disease or sexually transmitted disease.

  • Any illness or complication arising from pregnancy, childbirth or related to pre and postnatal care is not covered.

  • Cosmetic or aesthetic treatments or any form of plastic surgery.

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.

Who Should Buy Individual Health Insurance?

Individual insurance plans are ideal for most people who do not have any dependents. Here are the types of people who should opt for individual insurance:

  • Bachelors

People who are not married should go for individual insurance plans as they do not have any dependents, so they only need coverage for themselves.

  • Young Individuals

Younger people who do not have dependent parents can opt for the best insurance plans for individuals and take advantage of cheaper premiums.

  • Senior Citizens

Senior citizens who are single or widowed should get individual health insurance as there are specific senior citizen plans available under individual health insurance that people of or above 60 years can benefit from.

How to Apply for Individual Health Insurance?

Just 5 simple steps and you can secure your health with ease!

  • Visit us online and choose your coverage

  • Fill the application form

  • The insurer will assess your file

  • Proceed to make an online payment

  • The policy will be issued to you in no time

Things to Consider While Buying Individual Health Insurance

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 claim settlement 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 Health Insurance

Filing claims with Bajaj Markets is a cakewalk. Just follow these steps, and you are done!

  • 1

    Register your claim online

  • 2

    Upload the request documents

  • 3

    The insurer will assess your claim

  • 4

    Check claim status online


Health insurance has become a necessity in today’s world as medical infrastructure has become exorbitantly expensive. If you are a single person looking for financial protection in case of medical emergencies, it is recommended that you buy individual health insurance for the best possible protection. You can take a look at the best individual health insurance plans available at Bajaj Markets and choose a plan that fits your needs.

Before that, you can estimate how much you need to pay for a policy with our easy-to-use health insurance premium calculator!

Health Insurance Plans Available at Bajaj Markets

Frequently Asked Questions on Individual Health Insurance

  • ✔️Is individual health insurance cheap?

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

  • ✔️How do I find affordable health insurance?

    You can get a good insurance plan by browsing through all available insurance policies online and choosing one that fits your budget while providing good benefits.  

  • ✔️Is it cheaper to get health insurance through your employer?

    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.  

  • ✔️How many claims are allowed in health insurance?

    You can make as many claims as required till your sum assured gets depleted. Following this, you won’t be able to get compensation.

  • ✔️Should I pay monthly premiums?

    You can pay your health insurance premiums in monthly, quarterly or yearly installments. If you choose to pay your premiums yearly, you may get a discount from the insurance company.

Health Insurance Reviews

Health Insurance Reviews

4.2out of 5

5 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.

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.

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.

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.

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!