Medical ailments do not discriminate between genders or age and can affect anyone at any time in life. While a lot of people think themselves to be healthy enough to not warrant hospitalization, life is still unpredictable and accidents don’t give warnings.
The healthcare industry in India is growing day by day, and the price for quality healthcare keeps on increasing. In such a situation, even a minor ailment that gets you hospitalized can put some serious strain on your savings. This is where personal health insurance comes into play. With a large number of benefits offered by private health insurance plans, the peace of mind that comes with having a good individual health insurance plan in place is incomparable. At Insurance Inbox, you get to compare the best individual health insurance plans that you can choose from.
Individual Plans
Individual health insurance plans, as the name suggests, provide coverage to individuals and protect them against unforeseen medical bills. While not all of the insurance providers offer the same premiums, coverage, riders, or features, some of the most commonly covered expenses under the best individual health insurance plans include:
• Doctor’s fees, cost of medical tests, etc.
• Cost of the hospital room in case you are admitted to a hospital, surgical charges, related tests etc.
• Ambulance charges
• Pre and post hospitalization expenses
Buying the best individual health insurance
As important as buying a personal health insurance plan is for you, you need to choose a plan after due consideration. A plan that is perfect for someone else might not be that suitable for you. Do your research and compare different policies by different providers before you select the one that matches your requirements perfectly. In fact, that is what we at Insurance Inbox encourage every customer to do.
Your ‘Well-Informed’ Health Insurance Buying Glossary:
• Efficiency of the claims process : The time taken by the insurer to settle claims and their history of claim settlements are the most important things that you must consider.
• Co-payment : CO payment refers to the clause where the policy holder has to pay a pre-defined percentage of the claim amount and the insurance company will settle the rest. While a co-payment clause makes a health insurance policy cheaper than regular plans, it might not offer complete coverage.
• Day-care procedures : Thanks to all the advancements in medicine, not all major treatments require hospitalization these days. Referred to as day-care procedures, they are covered under some policies, and not covered under others.
• Network hospitals : Cashless treatments are available only at network hospitals. Before buying an individual health insurance plan, you should check whether the hospitals and doctors that you prefer to visit are covered in the network list. Also, make sure that it covers hospitals with various branches, so your insurance can travel with you.
• Maternity Benefits : There are a number of policies that offer maternity benefits. However, make sure you ascertain the sub-limit, waiting period, etc.
• Free medical checkup : Look for a policy that offers you free medical checkups
• Lifetime Renewal : Individual health insurance plans that can be renewed lifelong don’t have any age limit for renewal. This is an important factor to consider if you plan to cover your elderly parents with the policy.
• Co-payment : CO payment refers to the clause where the policy holder has to pay a pre-defined percentage of the claim amount and the insurance company will settle the rest. While a co-payment clause makes a health insurance policy cheaper than regular plans, it might not offer complete coverage.
• Day-care procedures : Thanks to all the advancements in medicine, not all major treatments require hospitalization these days. Referred to as day-care procedures, they are covered under some policies, and not covered under others.
• Network hospitals : Cashless treatments are available only at network hospitals. Before buying an individual health insurance plan, you should check whether the hospitals and doctors that you prefer to visit are covered in the network list. Also, make sure that it covers hospitals with various branches, so your insurance can travel with you.
• Maternity Benefits : There are a number of policies that offer maternity benefits. However, make sure you ascertain the sub-limit, waiting period, etc.
• Free medical checkup : Look for a policy that offers you free medical checkups
• Lifetime Renewal : Individual health insurance plans that can be renewed lifelong don’t have any age limit for renewal. This is an important factor to consider if you plan to cover your elderly parents with the policy.