The recent COVID-19 pandemic showed us how important health insurance is, not just for staying healthy but also to protect your money from big hospital bills. Because of this, many more people in India have started getting health insurance over the last few years.
According to a report from 2024, 573 million people in India are now covered under some kind of health insurance. Still, around 60 to 70 percent of Indians do not have any health insurance at all. Source
Insurance companies are now offering many different plans to match what people need, and one of these is an Individual Health Insurance Plan. In this blog, let’s learn more about the Individual Health Insurance Plan, how it works, its inclusions and exclusions, and more.
Meaning of Individual Health Insurance
An Individual Health Insurance Policy is an agreement between you and an insurance company. You pay a premium, and in return, the insurance company helps pay your medical bills. This type of plan covers only one person, so each family member needs their own individual policy.
Unlike a family floater plan, which covers everyone in one policy, an individual health insurance plan is customisable. You can choose a plan that fits your own health needs. The cost of an individual health insurance plan usually depends on your age, gender, medical history, and other factors. These plans give you better coverage that matches your health needs. You can also buy add-ons to increase the coverage.