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.

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Individual Health Insurance Reviews

Page 1 of 50 1 2 3 4 5
  • Star Health Health Insurance
    "Good health insurance"
    0.5 5.0/5 "Blown Away!"
    5 years back, i have started taking the health insurance from Star health insurance. They are providing some discounts also but i did not get any claim till now. Its because of the best services an the premium is less hence i have purchased the policy with them. My entire family has been covered in this policy. I don't have any claim experience.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 16, 2019
  • HDFC Ergo
    HDFC Ergo Health Insurance
    "Not recommendable policy"
    0.5 3.0/5 "Satisfactory"
    I have chosen the health insurance from HDFC Ergo without any reason. I have been using the policy for a long time but they haven't provide the no claim bonus till now. They have provided me a coverage value of Rs. 7 lakhs and the executive come to my place to renew the policy. I do not have any claim bonus.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 16, 2019
  • United India Health Insurance
    "Good 100% claim policy"
    0.5 5.0/5 "Blown Away!"
    My employer has provided me a health insurance policy from United India. Myself and my entire family has been covered in this policy with a coverage value of Rs. 10 lakhs for each person. I had a claim experience which was very fast and smooth. It was cashless facility covered for 100%. Overall, I'm very much satisfied with the policy.
    Was this review helpful? 0
    , greater noida
    Reviewed on Jul 15, 2019
  • Max Bupa Health Insurance
    "Need to decrease premium amount"
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance in MAX BUPA. The policy is for one year but it will getting renew on every year. I am paying premium in the yearly package and the amount is too high. While getting a policy my agent has given an information about the policy details. They have tied up with particular hospitals only and cashless also applicable.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 15, 2019
  • Star Health Health Insurance
    "AVERAGE"
    0.5 3.5/5 "Pretty good"
    I am using from last few years the health insurance policy, i had a claim but the settlement was done for 70% within 3-4days. The coverage is for family, premium paying was nominal, medical coverage is for 4L, illness, pre existing disease coverage is available with the policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 14, 2019
  • Star Health Health Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I had a claim for 2 time and the experience was excellent, it was a reimbursement and cashless once also the customer support is good, i am using from last 10 years. It has the pre existing disease coverage and illness is there, listed hospital is good, premium was nominal, medical coverage is was 10L for family coverage.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 13, 2019
  • Oriental Insurance Health Insurance
    "No claim experince"
    0.5 4.0/5 "Great!"
    The benefits are good hence i opted for the oriental insurance. I have chosen the lower premium policy which has a coverage of Rs. 2 lakhs. I have chosen the policy only for me. Almost most of the hospitals has been covered with the cashless facility.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 13, 2019
  • Religare Health Insurance
    "Yet to explore the policy benefits"
    0.5 3.5/5 "Pretty good"
    My employer has given me a health insurance policy from Religare and they have provided me a coverage amount of Rs. 5 lakhs. Myself, my wife and my children are covered in this policy. Still now i haven't get my policy documents. They have a cashless facility with some of the hospital as well.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jul 13, 2019
  • Religare Health Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am using the policy from last 1year, i had a claim experience it was good and responsive with the customer support. The premium paid was nominal which was 46K+60K it gives the coverage for family and the medical coverage is for 5L for each, the listed hospital is nominal.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 13, 2019
  • review Health Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I have used the heath insurance policy with IFFCO TOKIO GENERAL INSURANCE where i had claim experience but the settlement it takes nearly 3 months with the policy. It gives the coverage for my parents but the policy i am not satisfied.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 13, 2019
  • review Health Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    The reason for taking the health insurance policy with ADITYA BIRLA HEALTH INSURANCE CO LTD is because it is good when compared to others. the policy i am using from last 6 months and it has the validity of 1 year, it gives the self and spouse coverage.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 12, 2019
  • Max Bupa Health Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have taken the health insurance policy with MAX BUPA where i had no claim experience with the policy added on that the policy has the premium as nominal has the good medical coverage. The i have been using from last 6 months and the coverage is for 2 years.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 12, 2019
  • Reliance General Health Insurance
    "Good Insurance"
    0.5 4.0/5 "Great!"
    My company has provided me a health insurance from Reliance. I haven't contact the customer care service yet and my family of my father and mother included along with me. I'm not sure about the coverage amount. I haven't use their services and they have provided me a health insurance card.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 12, 2019
  • HDFC Ergo Health Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    My employer has provided me a group insurance from HDFC Ergo. Its a health insurance with the cashless treatment facility. My family of my mother and my father and if the person is married spouse and children is covered along with the policy owned person. They have provided the coverage amount of Rs. 15 lakhs and i do not have any claim experience
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 11, 2019
  • New India Health Insurance
    "Fast claim settlement"
    0.5 5.0/5 "Blown Away!"
    I got the medical cover of Rs. 3 lakhs its cover for my family member as well, recently there is a claim for my spouse maternity they covered 100% of cash less facility and reimbursement for my son. New India got tied up with big hospital apollo, ameri etc.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jul 11, 2019
  • Bajaj Allianz Health Insurance
    "Good Service"
    0.5 4.0/5 "Great!"
    I have applied for Health Insurance policy directly through Bajaj Allianz .This policy tenure is for 1 year and each year need to renew the policy .I have not faced any drawbacks so far on using this policy.I have got all the required details about the policy through the agent.I am really comfortable with the service .
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 11, 2019
  • Star Health Health Insurance
    "Good coverage policy"
    0.5 5.0/5 "Blown Away!"
    Since star is a good company and my friend has told me that insurance is very important for health and for my family policy, i am paying the premium of Rs. 11000 and i am renewing the policy for last 5 years. I got the no claim bonus as well. They have given me a coverage value of Rs. 5 lakhs and the hospital list is good and most of the corporate hospital has been covered.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 10, 2019
  • Star Health Health Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    Ii am using the health insurance policy with the STAR HEALTH & ALLIED INSURANCE since from last 4 years and i had no claim experience. It gives the family coverage added on that the listed hospital is good with the bank. The premium paid was nominal.
    Was this review helpful? 0
    , pune
    Reviewed on Jul 10, 2019
  • HDFC Ergo Health Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have purchased the health insurance policy with HDFC ERGO GENERAL INSURANCE where i had no claim experience with the policy added on that the premium paid through oline also it was nominal they have given the good medical coverage. There are good coverage available with the policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 10, 2019
  • ICICI Lombard Health Insurance
    "Best Medical Cover"
    0.5 5.0/5 "Blown Away!"
    I have health policy from ICICI Lombard which provided by my company, I got Rs. 3 lakhs of cover its only for me. They do have critical illness cover and I am not sure about the pre existing cover. They got tied up many hospitals across pan India.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 09, 2019
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