With the growing pollution and changing lifestyle, people are very much prone to diseases. Moreover rapid increase in medical costs has made it necessary to buy an individual health insurance plan.
In order to cover your medical expenses and provide financial support, individual health insurance plan is a must nowadays. Also, you will be benefitted with a number of facilities under the individual health insurance policy in India. So, why wait? Let’s have a look at the benefits of individual health insurance plan in India-
- Flexibility– Under the individual health insurance policy, you will enjoy the flexibility to choose the insurance plan which suits you the best. And accordingly, you will pay the insurance premium.
- Medical Coverage– In case you fall ill, your individual health insurance plan will take care of your medical expenses. Your savings will not get hurt and will remain intact.
- Members can be added– Under individual health insurance plan, you can separately add your spouse, parents, children even parent-in-laws in the plan.
- Higher Coverage– The individual health insurance policy in India provides huge coverage as per your need. So, you don’t have to worry about your medical expenses.
- Risk and Premium– If you have a high health risk factor, then an individual health insurance policy is the ideal insurance plan. This is because individual health insurance is a money-saving insurance plan for high health risk individual.
- Critical Illness-Treatments for any critical illness involves a huge sum of money. Not everyone can afford it. But if you own an individual health insurance plan , then your medical costs will be covered under that insurance policy.
- Hospitalization costs– Under the individual health policy in India, your pre as well as post-hospitalization cost gets covered.
- Cashless services– If you get admitted in an empanelled hospital under the health insurance company, then you will get medical treatment without paying a single penny from your pocket. So, under the individual health insurance plan, you can enjoy the benefit of cashless hospitalization.
- Discount– If you don’t claim in a policy year, you will enjoy 5% discount on the premium paid for the individual health insurance plan.
- Co-payment– In order to reduce your premium amount of the individual health insurance plan, you can opt for co-payment option. Using this facility, you will need to bear a certain amount at time of insurance claim.
- Medical tests– If you are below the age of 45, you don’t have to take any medical tests. While after 45, you need to undergo a pre-policy medical check-up under the individual health insurance plan.
- Customization– Depending on your paying capacity, you can select the coverage under the individual health insurance plan.
- Renewal– Your individual health insurance plan offers life-time renewal option. That means, there is no specified time period after which your individual health plan will no longer be valid.
- Tax Benefit– The premium that you pay towards your individual health insurance plan is tax deductible under Section 80D. Also, if you are paying the premium for your senior citizen parents, your tax deduction increases.
