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Essential Tips To Buy An Individual Health Insurance Policy

Published On Oct 20, 2021, Updated On Oct 21, 2021

An individual health insurance plan is the type of health insurance policy which provides financial backup to a single individual under the plan. This health insurance plan is much like any other health insurance plan, but it offers a wide range of benefits and coverage to a single policyholder. Such plans should be purchased by people with medical history, pre-existing diseases, etc. so that they can get enough coverage for their treatments. Individual health insurance plans provide features like pre and post hospitalization expenses, organ donor expenses, room rents, ambulance charges, etc. while other benefits depend on the health insurance provider offering the coverage.

There are various options available in the insurance market when it comes to individual health insurance plans. When buying an individual insurance cover, the policyholders must consider their requirements and then invest in a plan based on their choices. You can use the internet and look for the different types of plans that are available in the market. Before investing in a particular individual health insurance plan, it is important to go through its terms and conditions as it can help you understand the policy better. Many health insurance providers offer the flexibility of customizing the health insurance plans to the policyholders so that they can include their requirements.

Essential Tips To Buy An Individual Health Insurance Policy

Essential Tips To Buy An Individual Health Insurance Policy

Following are some of the tips and factors that must be considered while buying an individual health insurance plan:

Must Read: Importance of Individual Health Insurance Plans

1. Look For Affordable Plans

You must look for individual health insurance plans which are cost-effective and extensive. The plan you desire to invest in must be affordable and within the limits of your finances. The health insurance plans must not hamper your financial budget.

2. Choose The Lifetime Renewability Option

The health insurance plans bought by the policyholders must offer lifetime renewability of services as it can help you in avoiding the maximum age limit when renewing your existing health insurance plans. Renewal of your health insurance plans ensures that you avail the accumulated benefits of your existing plan.

3. Check The Network of Linked Hospitals

Policyholders can avail the cashless claim benefits of their health insurance plan at the network hospital of the health insurance provider. To avail the cashless claims, you must look for insurers with a wide range of network hospitals. This benefits ensures you hassle-free and smooth claim settlement process at the time of a medical emergency.

4. Consider The Claim Settlement Ratio

To avail the benefits of your individual health insurance policy, you must claim your plan without any hassles. Therefore, you must purchase your individual health insurance plan from an insurer that has a good claim settlement ratio. This ratio determined the capability of an insurer to settle the total claims in a policy year.

5. Go Through The Exclusions

When investing in an individual health insurance plan, you must carefully read its terms and conditions to understand the inclusions and exclusions of your policy. Going through the exclusions of your plan can avoid any inconvenience at the time of the claim settlement process.

6. Consider Limits And Sub-Limits

Before putting your money in an individual health insurance plan, you must opt for plans with little to no sub-limits. Also, you must be aware of the limits of your plan.

7. Read The Co-Payment Clause

Under the co-payment clause, the insurer specifies the fixed amount of medical expenses that are to be borne by the policyholder. You must know the percentage of the amount that you have to pay for your medical bills under the co-payment clause.


When you are buying an individual health insurance plan, you must make sure that it meets your requirements at an affordable price. The plan must be comprehensive and should offer the tax savings perks on the premium amount. You must read the policy terms carefully during the free-look period offered by the insurer, to avoid any confusion at the time of the claiming process.

Also Read: Health Insurance Policies For Individuals Above 70 Years In India

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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