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Individual Health Insurance
We live in times where lifestyle diseases are increasingly common. Due to sedentary lifestyles, most people are suffering from Hypertension, Diabetes etc.
Critical Illnesses like Cancer are also becoming increasingly prevalent on account of air polluation, smoking etc. A report in WHO estimated that 1 in 10 Indians likely to suffer from Cancer during their lifetimes.
Did you know that the Average Treatment Cost of Cancercan easily exceed a Couple of Lakhs while that of a Bypass Surgery can exceed 5 lakhs?
Such unplanned expenses can put a big dent in your savings and impact lifestyle.
It is thus necessary to be prepared for such emergencies by opting for an Individual Health Insurance Policy.
What is an Individual Health Insurance Policy?
An Individual Health Insurance Policy implies a separate Health Insurance Policy for each and every person. The Sum Insured is applicable exclusively to the Insured Person.
The Individual Health Insurance Policy will reimburse for the hospitalisation expenses of the Insured Individual. It also pays for Pre and Post-Hospitalisation Expenses as well usually for 60 days and 120 days respectively.
What are the Key Benefits of an Individual Health Insurance Policy?
The Key Benefits of an Individual Health Insurance Policy are as follows:
Covers Hospitalisation Expenses
Covers Pre and Post-Hospitalisation Expenses
Maternity Benefit for some plans
No Room Rent Capping
Covers Day Care Treatments
What are the advantages of an Individual Health Insurance Policy?
The Sum Insured is applicable only for the Insured Person.
Individual Health Insurance Plans are suitable for mainly Older Aged People as they are at a greater risk of developing medical complications.
The Premium Paid is Tax-Deductible under section 80D of the Income Tax Act.
Discount on Premiums if 2 or more Family Members opt for an Individual Health Insurance Policy together.
How to buy an Individual Health Insurance Policy?
You will need the following documents to purchase an Individual Health Insurance Policy:
Duly Filled and Signed Proposal Form
Photo ID proof of the Insured person
Address Proof of the insured person
Insurance Companies ask for Medical Reports if you have some Pre-Existing Diseases or if you are above 45 years of age
What are the Exclusions under an Individual Health Insurance Policy?
The Common Exclusions under an Individual Health Insurance Policy are as follows:
Exclusions under an Individual Health Insurance Policy
An Individual Health Insurance Policy does not cover Pre-Existing Diseases before the end of the Waiting Period
Medical Expenses related to Cosmetic Treatments and Plastic Surgery are not covered under an Individual Health Insurance Policy.
Medical Expenses related to certain illnesses like Hernia and LASIK Surgery are excluded from the cover of an Individual Mediclaim Policy.
How to claim Health Insurance?
In order to make a Reimbursement Claim under your Health Insurance Policy, you need to submit the following documents to your Insurance Broker:
Insurance Policy Copy
Duly Filled and Signed Claim Form
Photo Identification Proof of the Insured
Address Identification Proof of the Insured
Diagnostic Reports, Doctor’s Prescriptions
Hospital Bills, Pharmacy Bills
Hospital Discharge summary
In order to request a Cashless Claim Settlement, you just need to provide your Insurance Policy E-Card at the Network Hospital.
No Sub Limits
100% No Claim Bonus
24/7 Claims Settlement
No Room Rent Capping
Long Term Policy Discount
Buy an Individual Health Insurance Policy in 3 Hours!
Have any queries or doubts regarding Health Insurance? Want to purchase an Individual Health Insurance Policy for yourself or your loved one?
Qian is an Experienced Insurance Broker for Health Insurance. We are empanelled with all Insurance Companies and can offer customised Health Insurance Plans which suit your requirements and budget.
Hemik of Qian is knowledgable, prompt and very professional - highly recommended. I had to claim for a critical illness under my health insurance policy and Qian’s assistance with the claims process and advice on how to deal with the insurer was inva