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What is individual health insurance?

When it comes to life, safety, security and assurance of the future is one of our top priorities. This is where Individual health Insurance comes into play.

In today’s world, it is important to understand the importance of having an insurance. Many complications are faced in availing medical treatments by the ones who do not take advantage of this product. We say health is wealth but the same health becomes a burden when we cannot afford the expenses to maintain it due to lack of insurance unlike those who have one. Having a personal insurance not only covers disability and long-term treatment but also helps you in being eligible for tax benefits.

The premise of an individual health insurance is that it separately defines cover for each member. It is targeted towards an individual rather than a group or an organization. It covers the health expenses of the insured individual.

Why do you need individual health insurance?

1. Better Health

You can avail better healthcare facilities if you have an individual health insurance. You can be notified by various insurance companies regarding when and where to have the diagnostic screenings.


2. Covers medicine & drug costs

Generally, it is not feasible for people to afford expensive medicines for the various disease under normal circumstances.

3. Preventative Medicare

Prevention is better than cure. Individual health insurance provides you with the facility of medical checkups and tests when needed.


4. Financial Stability

These are the top eight essential factors to contemplate before buying any medical insurance plan for yourself.

5. Pre & Post Hospitalization Expense

Pre and post hospitalization prices are the ones which can be accounted before and after hospitalization. The cover of every policy differs in terms of the days, where pre-hospitalization is generally counted for 30 before hospitalization and post-hospitalization are counted for 60 days after.

6. No Claim Bonus

If you don’t claim for your insurance against any illness or disease in a year, Then you are eligible for no claim bonus. In many cases, it gets to you for consecutive five years. The benefit commonly varies from 10-50%.

7. Co-pay

Co-payment is where the insurance company and the insured candidate pay a part of the total declared amount. The proportion is decided in advance. This procedure may reduce your premium, but it’s important to comprehend that if you could pay your part of cash at the time of need.

8. Network Hospitals

Network hospitals are the panel hospitals where for any medication you don’t need to pay the bills. in lieu, you could experience cashless facility wherein there is the hassle-free submission of documents for repayment. All the treatment costs are taken care of at once between the hospital and insurer.

9. Exclusions

It’s essential to know the exclusions, terms, and conditions of every policy. Try and opt for coverage with fewer exclusions so that you don’t have to face issues while claiming for treatment or while availing of a treatment done.


Factors to consider while comparing your insurance

Check limits and sub-limits

Cost of premium may be reduced depending upon some limits and sub-limits but they might compromise on some benefits. You should look for your requirement, budget and choose accordingly to avail maximum benefits.

Claim settlement ratio

It is vital to check it before making your purchase decision. With it, you can ensure that your claims would not be wrongly withheld by the insurance provider.

Don’t rely on premium

It is important to look at premium quantity wise but you should not compromise on the quality of the policy based on that.


It is important to check how many years the policy offers to cover you. Check renewability features to get the best policy of the lot.

Documents required to apply for insurance:

Insurance gistration


Age proof

Any one of Birth Certificate, 10th or 12th mark sheet, Passport, Voter ID, Driving License, etc

Insurance registration


Identity proof

Passport, Voter ID, Driving License, PAN Card, Aadhar Card, which supports one’s citizenship.

Insurance registration


Address proof

A Ration Card, Electricity Bill, Telephone Bill, Passport, on which permanent address is clearly mentioned.

Insurance registration


Passport Size Photo

To have a record of the candidate’s identity for future references.

Why choose PolicyStop for your insurance?

  • At PolicyStop, we offer you unbiased advice to take care of your health-related needs. PolicyStop works according to the norms for accurate and dependable individual health insurance comparison
  • With the free quotes provided, compare different Individual Insurance plans at zero cost on PolicyStop.
  • Tie-ups with highly reputed leading brands in India.
  • Buy Individual health insurance within minutes by filling up the online form. Most of the plans are available online and you can get your policy instantly by making an online payment.