The Appropriateness of Health Insurance Plans for Individuals

A medical emergency may happen at any time, and the hefty medical bills and treatment costs can catch you off guard. A health insurance policy can save you from unpleasant surprises and keep you financially secure during testing times. As a result, more and more people are opting for health insurance plans, particularly individual health insurance policies. Read on to know more about individual health insurance plans and how they can benefit you. 

What is an Individual Health Insurance Policy?

Individual health insurance policy offers medical coverage to a single person, i.e., the policyholder. The benefits are provided on an individual sum-assured basis, and you need to purchase a separate insurance plan for each family member. Moreover, the insurance plan is customised as per the insured person’s insurance needs and not the entire family.

Age, medical history, gender, place of residence, and several other factors decide the premium when you buy individual health insurance. A health insurance plan for individuals provides extensive coverage to the policyholder. For example, it usually covers hospitalisation costs, daycare procedures, organ donor expenses, diagnostic tests, etc.

Note that mediclaim insurance is different from fixed benefits individual health insurance. While mediclaim insurance reimburses the expenses incurred, a fixed-benefit individual health insurance policy pays a defined sum to the policyholder.

Benefits of Health Insurance Plans for Individuals

You can buy health insurance for individuals for its following benefits:

  • Customised policy: The benefits and coverage of an individual health insurance plan are customised per the policyholder’s needs. A policyholder can request coverage for a particular disease or condition. For example, you can include personal accident coverage in your individual health insurance plan or get maternity coverage if needed.
  • Assured amount: An individual health insurance policy provides a definite amount of coverage that can be used for your healthcare needs. This way, you know how much coverage you can get and do not have to worry about making expenses from your pocket when required.
  • Cashless claim facility: You can opt for an individual health insurance plan with cashless coverage. In case of a medical expense, you can get quality treatment and consultation at a network hospital of the insurer without paying anything on your own.
  • Low premium: A health insurance plan for a family may have a high premium due to the age and health condition of some family members, like senior citizens. On the other hand, an individual health insurance plan usually has lower coverage as it considers only your age, health, and other factors.
  • Discounts and benefits: Generally, insurance providers offer discounts and additional benefits when you purchase individual health insurance plans for multiple family members. This way, you can enjoy extended coverage and additional discounts while keeping your family members covered.
  • Individual benefits: Under family floater health insurance plans, a family member may not get financial coverage when required if another member has used up the entire policy coverage amount. In such a scenario, an individual health insurance plan is the best option.
  • Add-on coverage: You can buy add-on covers with an individual health insurance plan. These add-ons may include restoration benefits, maternity coverage, outpatient treatment benefits, etc.

Why Should You Buy Health Insurance for Individuals

An individual health insurance plan is an appropriate choice for you if you fall under any of the following categories:

  • The policy is most suitable for individuals with high health risks.
  • People who are uninsured themselves but have family members insured under a health insurance policy can opt for this plan.
  • People who prefer cashless claims and want quick settlement can choose this individual health insurance plan.
  • Individuals who prefer a fixed sum assured for their healthcare coverage can buy this policy.
  • Individuals looking for a provision of lifetime renewability on their health insurance plan can opt for this policy.
  • The policy is a good option for students, self-employed individuals, and people who have recently started working.

Things to Keep in Mind When Buying Individual Health Insurance 

Bear the following things in mind when buying a health insurance plan for individuals:

  • Choose appropriate coverage so that you have sufficient funds in case of a medical emergency.
  • An individual health insurance policy has a waiting period in case of a specific medical condition. You can file for a claim once this waiting period is over.
  • Go through the list of exclusions when buying a policy to avoid claim rejection later.


Health insurance from a reputed insurer like Tata AIG can provide financial security when you or your loved ones face a medical emergency. Individual health insurance is a customised policy that caters to your individual health insurance requirements. It is also an excellent option for people with high health risks.

About Stella Eli

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