Individual Health Insurance Plan

What is Health Insurance?

Health Insurance is a type of insurance policy that covers the cost of hospitalization and medical treatment. It covers several healthcare services such as surgeries, hospital stays, doctors' consultations,scanning, medical tests and medicines. Health insurance is popularly known as medical insurance.

Medical Insurance protects your entire family against the financial burden imposed by high healthcare costs. The policy pays for all the major medical expenses that you would otherwise pay out of your pocket. The health insurance policy covers everything from routine checkups to complex surgeries.

Why Do I Need Health Insurance?

Health insurance protects your entire family from financial hardships due to expensive & unavoidable medical treatments
Health insurance protects your life’s savings and prevents you from falling into a debt trap
Comprehensive health coverage for the entire family provides financial security and peace of mind
Most health insurance policies cover pre-existing diseases after a nominal waiting period
Treatment of common lifestyle diseases requires long-term care amid rising expenses
Annual free health checkups help you monitor and keep a close tab on your family’s health

Benefits of Health Insurance Plans

Health insurance plans offer a variety of health benefits to the insured, depending on the plan. Following are the key benefits of buying a health insurance plan in India:

Hospitalization Expenses

A health insurance plan covers the medical expenses incurred on getting admitted to a hospital for more than 24 hours. It includes room rent, doctor’s fee, medicine costs, diagnostic test fees, etc.

Pre & Post Hospitalization Expenses

It covers the medical expenses that you may have incurred on an illness before getting hospitalized as well as follow-up treatment expenses incurred after getting discharged. The pre-hospitalization and post-hospitalization expenses are covered up to a fixed number of days as specified in the policy document.

ICU Charges

A health insurance plan also covers the cost of availing treatment in an ICU or Intensive Care Unit during hospitalization.

Ambulance Cost

It covers the cost of ambulance services availed to reach the nearest hospital during a medical emergency.

Cashless Treatments

All health insurance providers in India offer cashless treatment facilities at their network hospitals. You do not have to worry about arranging money to pay the hospital bills if you get admitted to a network hospital, as it will be settled by your insurer under cashless claims.

Day Care Procedures

It also covers the cost of availing day care treatments that require hospitalization of less than 24 hours.

AYUSH Treatment

It covers the cost of availing medical treatment through the AYUSH system of medicines that includes Ayurveda, Unani, Homeopathy, Siddha and Yoga.

Pre-existing Diseases

The right health insurance policy also provides coverage for pre-existing diseases after you have completed the waiting period. Usually, pre-existing diseases are covered after a waiting period of 2 to 4 years.

What is Covered Under Health Insurance?

Inpatient Care

All the expenses related to hospitalization and medical treatments, including room rent, are covered. This requires a minimum hospital stay of 24 hours.

Daycare Procedures

Treatments that require less than 24 hours of hospitalization, such as cataracts, dental procedures, and other minor surgeries, are covered.

Maternity Care

Expenses related to pre-natal & post-natal care and delivery are covered.

Emergency Care

Expenses on emergency medical care, such as first-aid and ambulance charges, are covered.

Pre and Post Hospitalisation Expenses

Ambulance Charges

Non Medical Expenses

What Is not covered under health Insurance?

Cosmetic Treatments

Dental Treatments

Deliberate Injuries

Diagnotics Expenses

Hazardous Sports

Assisted Reproductive Technology

Unhealthy Living

Birth Defect

Investigation and evaluation

Gender Change Treatment

Unproven Treatment

Addiction Treatment

Things to Consider Before Buying Health Insurance

Some important factors to consider before you buy health insurance are as follows:

Type of Plan

Make a list of all the risk factors for which you want coverage. Do you want an individual plan, a family floater,

Features & Benefits

Check the features and benefits of health insurance plans. See whether they match your requirements.

Network Hospitals

Check the hospitals and clinics that are part of the insurer’s network. Know what kind of treatment facilities they offer.

Co-payment

Limit of room rent

Waiting period

Lookout for sub-limits

Note:

The policy coverage, features, and benefits may vary across plans and insurance providers. Please check the same before buying health insurance plans.

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