Bankbazaar

Individual Health Insurance

Overview of Individual Health Insurance:

Health insurance is an agreement between an insurance provider and an individual wherein the former guarantees to take care of certain medical costs of the latter based on the investment made. Some plans offer health insurance for individuals while others offer health insurance for family and group.

The Individual Health Insurance plan covers only one individual, the policyholder, who will gain the benefits of the health insurance for his investment.

Key Features:

  • This kind of health insurance for individuals offers cover only for the insured individual.
  • The insurance provider covers certain medical costs of the insured based on the premium paid.
  • Hospitalization- The policy covers hospitalization charges.
  • Lifetime renewal.
  • Tax deductions under section 80D of the Income Tax act.
  • Covers surgery costs, room rent, physician’s fee and laboratory tests.
  • The insured has to pay a predetermined amount for certain health care services. This is called co-payment.
  • Pre and post hospitalization expenses are covered under this plan.
  • Provides coverage for critical illness.

Advantages of Individual Health Insurance Plan:

  • In individual health insurance plan, the insured alone earns all the benefits under the plan.
  • The individual will earn the benefit of individual sum assured rather than floating sum assured.
  • Best suited for people with higher health risks.
  • Parents and immediate family members can be added to the plan.
  • No restrictions on the maximum age for the members for the renewal of the policy.
  • There is no need to worry about making more than one claim in an year since the plan caters only to a single person.

Who should buy this plan?

  • The plan is best suited for individuals with higher health risks.
  • Single individuals with family members who are already insured.
  • An individual who wants to earn the benefit of the sum assured rather than floating sum assured.
  • Individuals who want to renew the policy without having to worry about any age restrictions.
  • An individual who wants higher protection than what is offered under a family floater plan.
  • Cashless facility for claim settlement can be availed in this plan.

Top Insurers Providing Individual Health Insurance:

There are a lot of insurance providers who offer individual health insurance. Listed below are the top five individual health insurance providers.

  • ICICI Lombard - Personal Protect Insurance Policy:

    The key features of the ICICI Personal Protect Insurance Policy are:

    • You can choose the coverage against Death or Permanent Total Disablement (PTD) due to an accident anywhere between Rs. 3 lakhs - Rs. 25 lakhs as a sum assured.
    • The ICICI Personal Protect Insurance Policy will even provide insurance cover to individuals who can claim after being in an act of violence from acts of terrorism.
    • There will no requirement for the individual to go through a health check in order to take up this policy.
    • The policy has an easy claim process with the need of documentation to be minimal, the coverage for this policy will be worldwide.
    • For the ICICI Personal Protect Insurance Policy an individual between the ages of 18 - 60 years, is eligible for a policy term of 1 - 5 years.
  • Bajaj Allianz - Individual Health Guard:

    The key features of the Bajaj Allianz Individual Health Guard are:

    • With this policy you will receive hospitalization charges and you will also receive 10% discount for family members. You can also get cashless hospitalization in the partner hospitals which are more than 3700 hospitals in the country.
    • The policy will cover pre and post hospitalization expenses that are of relevance, which would have occurred 60 days prior to hospitalization or 90 days after hospitalization. This will also costs of the ambulance if there’s a case of emergency. The ambulance costs will be covered up to Rs. 1000/- .
    • The sum assured will be in a range of Rs. 1.5 lakhs - Rs. 10 lakhs for an individual aged between 3 months - 55 years. And for an individual aged between 56 years - 65 years the sum assured will be from Rs. 1.5 lakhs - Rs. 5 lakhs.
    • There are 130 day care procedures that will be covered under this policy.
    • For the Bajaj Allianz Individual Health Guard an individual between the ages of 18 - 65 years, is eligible for a policy. For Spouse and parents as well. The proposer can also take up this policy for his/her children they will need to be between the ages of 3 months - 25 years.
  • Oriental Health Insurance - Individual Mediclaim:

    The key features of the Individual Mediclaim Health Insurance are:

    • This policy will offer cashless hospitalization and reimbursement hospitalization in the partner hospitals in the country.
    • The policy will cover pre and post hospitalization expenses that are of relevance, which would have occurred 30 days prior to hospitalization or 60 days after hospitalization.
    • The hospital charges for nursing expenses, room, boarding, etc for Rs. 5000/- or 1% of the sum assured whichever is less.
    • For family members covered under this policy, they will receive a 10% discount.
    • Any special fees for surgeons, ambulance, consultation etc will be covered under the policy.
    • If the individual is in Intensive Care the cost of the Intensive Care Unit will be borne for up to 2% of the sum assured of Rs. 5000/- whichever is less.
    • The sum assured will range from Rs. 50,000 - Rs. 5, 00, 00.
  • Star Health Insurance - Medi Classic Insurance:

    The key features of the Medi Classic Insurance are:

    • The insured individual will get protection under in patient hospitalization for a minimum of 24hours. Including expenses such nursing expenses, room, board and surgeons, ambulance, consultation etc.
    • The cost of medication and other drugs required also will be covered.
    • The policy will cover pre and post hospitalization expenses that are of relevance, which would have occurred 30 days prior to hospitalization. Post hospitalization will be covered to a limit specified.
    • Under this policy up to 101 day care treatments will be covered.
    • This policy will cover non-allopathic treatments as well, covered up to specified limits.
    • The individuals eligible for this policy will be anyone within the age of 5 months - 65 years, with individuals over 50 years will need to have medical screening.

Understanding Individual Health Insurance:

  1. Who does the individual health insurance plan cover?

    The Individual Health Insurance plan covers only the policyholder.

  2. What is the difference between Individual Health Insurance and Family Floater Health Insurance?

    In individual health insurance plans, each individual of a family is entitled to a health cover of a certain sum; whereas in the family floater health insurance plan, the health cover of the same amount is shared by all the family members included in the plan.

  3. What does individual health insurance plan cover?

    The charges covered by individual health insurance are listed below.

    • Medical examinations
    • Hospitalization
    • Emergency services
    • Laboratory services
    • Maternity and new born care
    • Room, boarding expenses
    • Physician fee
  4. Is there an age limit to avail an individual health insurance?

    No. Anyone can avail an individual health insurance.

  5. Does the policy offer tax deductions?

    Individual health insurance plan offers tax deductions under section 80D of the Income Tax Act.

  6. Will there be additional costs other than regular premiums?

    There are a few additional costs other than regular premiums that one has to pay

    • Deductibles
    • Co-payment
    • Coinsurance
  7. Can my family members be included in the plan?

    The main aim of individual health insurance is to provide complete protection just to the insured but the plan can be extended to parents and in-laws in certain cases.

Exclusions in Individual Health Insurance:

Though individual health insurance covers most of the medical expenses, there are some exceptions:

  • Individual health insurance covers pre-existing diseases subject to a waiting period of 2 to 4 years which can prove to be a disadvantage to some.
  • Cost of prescription glasses, lenses and hearing aids aren’t covered by this plan.
  • Dental treatment.
  • Naturopathy treatment.
  • Certain ailments like cataract, hernia, sinusitis, etc. won’t be covered under first year of policy.

An Example:

For instance, Mr. Bazi and Ms. Nidhi who were traveling in a car meet with an accident. After the treatment, the hospital bill comes up to Rs.1.8 lakh for each person. Mr. Bazi has a family floater health insurance which offers coverage of Rs.3 lakh for his family of three. Ms. Nidhi has an individual health insurance plan that offers a coverage of Rs.2 lakh. Ms. Nidhi manages to use her insurance to pay for the hospital bills. Unfortunately, Mr. Bazi’s family member had already made a claim of Rs.2.5 lakh the same year for a surgery. Hence, Mr. Bazi had to pay up Rs.1.3 lakh from his own pocket for the medical bills. Since he did not have an individual insurance plan he had to pay from his own pocket. This instance shows why exactly individual health insurance is a better option.

You may also be interested about:

Family Floater Health Insurance Policies
Health Insurance Plans for Senior Citizens
Critical Illness Insurance Policies
Group/Employer Health Insurance
Cashless Health Insurance Policies

GST rate of 18% applicable for all financial services effective July 1, 2017.

Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

 4.5 / 5.0   by 6394 users
Used this product? Write a review >>

Cashless Treatment

Policy Coverage

Customer Service

Medical Coverage

Claim Experience

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Individual Health Insurance Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Ergo Health Insurance
    "Family health cover policy"
    0.5 5.0/5 "Blown Away!"
    Based on my credit card, they have provided me a health insurance from HDFC Ergo. It covers for my entire family. They have given me a coverage amount of Rs. 6 lakhs. I have not applied for any claim till now. I pay the premium amount of Rs. 4,500 on every year. They cover most of the hospital in the city for that they provided me a list also.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 08, 2019
  • Oriental Insurance
    Oriental Insurance Health Insurance
    "Good one"
    0.5 5.0/5 "Blown Away!"
    There is no need to talk with the customer care of Oriental insurance and they have already provided the guidelines with the power point presentation and hospital list also. Most of the hospital is providing the cashless facility also. In my company they have provided me a health insurance from oriental. They have provided me a coverage amount of Rs. 3 lakhs which covers for myself.
    Was this review helpful? 0
    , navi mumbai
    Reviewed on Dec 07, 2019
  • National Insurance Health Insurance
    "Smooth transaction"
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance policy from my company and the insurance company is NATIONAL INSURANCE. The policy coverage was Rs. 2lakhs. Recently i got hospitalized and that was cashless treatment, and i got a claim also. This insurance covers all network hospitals. My company provides this policy me and my spouse and children. I got 90% of claim.
    Was this review helpful? 0
    , pune
    Reviewed on Dec 07, 2019
  • Religare Health Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance mediclaim policy from RELIGARE HEALTH. The coverage value I think its 3lakhs and i am paying premium on approximate of Rs. 13k-14k. This is a group policy they provided 2 policies one is group and other one individual. This is life long policy it covers all type of illness. Dental they wont cover in this policy and still there is a no claim.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 06, 2019
  • United India Health Insurance
    "Very Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have a health insurance from united India which is provided by my employer. I will recommend this medical insurance to all because the service was good and the claim disbursement time is very less within 25 days we are getting the claim amount. They processed the claim very fast and they are giving upto 80% coverage for my parents, myself, spouse and children the claim coverage up to 100%.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 06, 2019
  • Star Health Health Insurance
    "Best policy"
    0.5 3.0/5 "Satisfactory"
    I have taken a mediclaim policy from STAR HEALTH and this is a company policy. I am paying premium annually Rs. 14,000.This policy covers all type of critical illness and i went for claims 2 to 3 times its a cashless. They cover all network hospital and this is family floater policy.
    Was this review helpful? 0
    , hospet
    Reviewed on Dec 05, 2019
  • ICICI Lombard Health Insurance
    "Good service"
    0.5 5.0/5 "Blown Away!"
    I have taken medi claim from ICICI LOMBARD GENERAL INSURANCE. The coverage value was Rs. 5,00,000 and I am paying premium Rs. 5000. This policy covers all type of critical illness day care treatment. This is a cash less policy last year I had done claim of 2L. This insurance covers all network hospitals and this is a group policy.
    Was this review helpful? 0
    , vijayawada
    Reviewed on Dec 05, 2019
  • SBI General Health Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    I have taken a health insurance from SBI General because from Government side, I can claim the amount if I apply for reimbursement. I have paid the premium amount of Rs. 1000 on every year. They have not explained me about the coverage amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 05, 2019
  • Bajaj Allianz Health Insurance
    "Good"
    0.5 3.0/5 "Satisfactory"
    My employer has given me a health insurance policy from BAJAJ ALLIANZ on 5 years before. The coverage amount of 5L. On yearly basis they will renew my policy. The premium amount of 10K use to pay. It covers particular hospitals and with multi specialty. There is cashless treatment as well. It covers my whole family.
    Was this review helpful? 0
    , medak
    Reviewed on Dec 04, 2019
  • review Health Insurance
    "Safety Policy"
    0.5 4.0/5 "Great!"
    Taken my health insurance from Birla Sun life. They approached me through call, when i accepted the same, they have given me a health insurance for my entire family with the coverage value of Rs. 3 lakhs. I have been paying the premium amount of Rs. 960 every month. In this policy, pre-existing disease has been covered.
    Was this review helpful? 0
    , dindigul
    Reviewed on Dec 03, 2019
  • Royal Sundaram Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a health insurance policy from ROYAL SUNDARAM.This is an individual policy and the coverage was Rs. 5,00,000. Annual premium i am paying Rs. 2000. This insurance covers all type of critical illness and still there is a no claim. Every year i am getting reminder call but i am not getting call to include my family members.
    Was this review helpful? 2
    , coimbatore
    Reviewed on Nov 29, 2019
  • review Health Insurance
    "Best mediclaim"
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance policy from ADITYA BIRLA HEALTH INSURANCE. This is a group policy and the coverage was Rs. 2,00,000. I am paying yearly premium around Rs. 3500 and this policy covers all type of critical illness, some disease will not cover need to be get cover.This policy covers all network hospitals.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Nov 29, 2019
  • Oriental Insurance Health Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance from ORIENTAL INSURANCE. The coverage value was Rs. 5,00,000 and the premium i am paying Rs. 25,000. This is a group policy which covers all type of critical illness and also i am enjoying TAX benefits. I went for claim full amount i got reimburse and they have issued health ID card for claim it's very useful more over they cover all net work hospitals.
    Was this review helpful? 0
    , rajahmundry
    Reviewed on Nov 28, 2019
  • Star Health Health Insurance
    "Average"
    0.5 4.5/5 "Excellent!"
    I have taken a health insurance policy from STAR HEALTH and i am using this policy almost 12 years. This is a group insurance which covers my family also and the coverage value was Rs. 7,50,000. I am paying premium for this policy around Rs.35,000. Still now there is a no claim and also this policy covers all type of critical illness.
    Was this review helpful? 0
    , mumbai
    Reviewed on Nov 28, 2019
  • ICICI Lombard Health Insurance
    "Best policy"
    0.5 4.0/5 "Great!"
    I have taken a health insurance from ICICI LOMBARD. The policy coverage value was Rs. 3,00,000 and annually i am paying premium of Rs. 9000. This is a individual policy covers individually for me and my family members. Since there is a no claim and also it covers all type of critical illness.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 27, 2019
  • Star Health Health Insurance
    "Safety policy for family"
    0.5 5.0/5 "Blown Away!"
    Last 3 years, i have been renewing the policy with Star health insurance. I have chosen this insurance because of the quick response and they have a very good network hospital list. In most of the hospitals, they accepting cashless facility with this company. My entire family has been covered in this policy.
    Was this review helpful? 0
    , tirupur
    Reviewed on Nov 26, 2019
  • Star Health Health Insurance
    "Best health policy"
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance policy from STAR HEALTH and the coverage value was Rs. 7,00,000 This is a family policy which covers all my family members and this is a life long policy. Annual premium I am paying Rs. 15000 and also getting tax benefits.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Nov 25, 2019
  • Religare Health Insurance
    "Quite costly but good policy"
    0.5 4.0/5 "Great!"
    I have a health insurance from Religare. I haven't get any experience to claim on that. The policy has lots of benefits like it has a cashless tie up with lots of hospitals and the re-imbursement process also quite comfortable so that i got the policy from Religare. They are sending reminder messages before the policy get expired.
    Was this review helpful? 1
    , mumbai
    Reviewed on Nov 25, 2019
  • Royal Sundaram Health Insurance
    "Better Policy for insurance"
    0.5 3.0/5 "Satisfactory"
    My health insurance policy was taken from Royal Sundaram. This insurance policy i got 3 months before hence i didn't claim anything till now. I have paid the premium amount of Rs. 600 which covers only for myself. When i get my SBI credit card, they have a tie up with Royal Sundaram hence i got this. This policy would be helpful in the emergency case.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 25, 2019
  • Bajaj Allianz Health Insurance
    "Better Policy"
    0.5 4.0/5 "Great!"
    I have not claimed for the Bajaj Allianz health policy till date once i claim only i come to know about the features. I'm with the Bajaj company for many years so only I purchased this insurance. Yearly I pay the premium amount of Rs. 10000 approximately. This policy covers for myself and my wife. According to the policy, they are saying its cover for 10L.
    Was this review helpful? 0
    , navi mumbai
    Reviewed on Nov 25, 2019
Common Loader Icon
Page 1 of 50 1 2 3 4 5
reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.