Individual Health Insurance
Individual health insurance is a medical cover providing healthcare and financial security to a single person against medical emergencies. The policy includes an affordable premium while offering lifelong renewability.
Premium Discount on Multi Year Policy
19000+ Cashless healthcare providers
Tax savings upto 75000* under section 80D
Reliable Claim Settlement with Over 30 lakhs Claim Settled
Hassle-Free Experience with 95.2% Claim Settlement Ratio
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Health Insurance For Individuals
As the name suggests, individual health insurance is a healthcare security policy for one person who alone can avail all the benefits, coverage, and features within a specific plan. Health insurance for individuals acts as a personal safeguard against any expenses arising due to emergency hospitalisation, accidents, or other ailments. As an individual, you can customise the benefits of an individual mediclaim policy while enjoying a pocket-friendly premium.
A lower premium, extensive coverage, and several benefits together make an individual health insurance policy a popular pick among youngsters or individuals. With a highly flexible coverage, people of all ages - from young to middle age and elders - can opt for an individual policy to meet their specific medical care needs. Based on the selected plan, individual policy coverage can be extended to the individuals family. So, be smart and secure your health at a young age to reap its benefits later in your life. Find out why you should consider individual health cover over other options.
Who Should Buy Individual Health Insurance Policy ?
While the policy is suitable for people from all walks of life, individuals under the following circumstances should certainly consider buying an individual health plan:
People At A Higher Health Risk
People who are susceptible to increased health risks owing to an unhealthy lifestyle and stressfull occupations
Ageing Parents
Elderly Parents and Family members with specific medical conditions, like diabetes, hypertension, etc..
People Needing Seperate Coverage
Individuals who need a separate sum insured and benefit plan instead of a shared plan under family floater.
Why Should You Opt For An Individual Health Insurance Plan ?
Buying a personal health insurance plan comes with a lot of advantages for every kind of individual, especially if you are opting for this policy at an early age. Heres how you can make the most of it:
An Essential Choice For Working Professionals
Working professionals need utmost security against the rising medical costs and lifestyle diseases while saving for the future. Individual plans are the best pick to protect ones needs. Also, the employer-provided group mediclaim stops providing coverage when one exits the organisation, whereas a separate health plan can give lifelong coverage.
Lower Health Insurance Premium
The earlier you opt for an individual health plan, the better. Not only will you enjoy a lower premium but also, you will accumulate a significant no-claim bonus, given you stay healthy for a long time. Even if you opt for a personal health cover in old age, you can waive off the co-payment by opting for optional waiver benefits.
Suitable for the Elderly
Including elderly family members in a family floater plan may not be a good idea as it can increase the premium. So, get a separate individual health cover for your elders that meets their different medical needs. With benefits like alternative treatment and annual health check-ups, it becomes easy for senior citizens to manage their health better.
Comprehensive Coverage and Flexibility to Customize
Whether young or old, the biggest advantage of buying personal health insurance is that you can customise the plan as per your health status and needs. For instance, diabetics can buy a mediclaim with pre-existing diseases while people with a family history of heart or cancer diseases can opt for a critical illness cover.
Better Tax Savings
Opting for a personal cover gives you an added opportunity to save tax on an individual basis. One is eligible to get a maximum deduction of up to Rs 25,000 every year, u/s 80D, on the insurance premium paid. Senior citizens can get a higher deduction of up to Rs 50,000. One can get total deductions of up to Rs 1 lakh if the proposer and insured are above 60 years.
Ability to Avail Bigger Discounts
With a separate cover, you can avail of special discounts on the policy premium paid as per the terms. Especially if you are a young individual, you can avail of early bird discounts up to 10% with Care Plus-Youth Health Cover - offered by Care Health Insurance. Also, as a senior citizen, you can buy a multi-year policy to avail of exclusive discounts on the premium amount. This way, individual covers for every member adds to the discount percentage..
Note : Please read the policy T&C, brochure, and prospectus to know more about our health insurance plans cover as they may vary.
Benefits of a Medical Insurance Policy
With over an 8% year-on-year increase in medicine prices, medical tests, and hospital charges across India, families have realised the importance of affordable health insurance while facing a healthcare crisis. Realising the importance of medical cover is just the first step to experiencing the immense benefits of a health cover, especially in light of health-related uncertainties. Heres how buying a health plan benefits you and your loved ones:
Financial Protection against Medical Inflation
No matter how much health inflation rises, you have our back with comprehensive healthcare insurance covers.
Coverage for Hospitalization Expenses
It secures you against pre and post- hospitalization expenses, ambulance, day-care procedures, domiciliary care, etc.
Coverage for Critical Illnesses
Treatment cover for life-threatening conditions come as a blessing, which is available as a separate cover.
Protection above Corporate Health Insurance
In times of severe health crises, a standalone health policy always scores over an employer- provided health plan.
Cashless Claim Benefit
Over 19,000+ cashless network hospitals are available for a convenient billing experience at the hospital.
What Is Covered Under Health Insurance
Insurance for medical expenses provides you with comprehensive financial protection in the time of urgent need by covering various medical expenses apart from the bills you incur during hospitalisation. The coverage provided is subject to the policy terms and conditions. The expenses covered in medical insurance policies are:
In-Patient Hospitalization
We cover your expenses like room rent, ICU charges, doctors fees, etc., during any planned or emergency hospitalisation up to the sum insured.
Daily Allowance
The everyday expenses during hospitalisation can be considerable! We provide a fixed amount to cover them.
Pre-Hospitalization Medicals
We cover your medical expenses like doctors consultation, medical tests, & medication up to 30 days before admission to a hospital.
Exclusion
You cannot raise any claims for the following standard exclusions under health plans.
Self-inflicted injuries resulting from suicide or attempted suicide
Diseases, surgeries, or medical events, occurring within 30 days of the policy start date.
Expenses arising out of or attributable to alcohol or drug use/misuse/abuse.
Treatment arising from a traceable to pregnancy and childbirth, miscarriage, abortion, and its consequences.
Tests and treatment relating to infertility and in vitro fertilization
How to File a Health Insurance Claim?
Health insurance plans come with additional benefits of cashless treatment and expense reimbursement by the insurer. One can file a claim for expenses incurred as per the sum insured limit of the health insurance policy. Following are the two types of claim processes:
Health Reimbursement Claims
For the treatments availed in the non-network hospitals, the policyholder can file a claim for reimbursement of the treatment charges. Once the treatment is completed, the insured needs to settle the bill, collect all the documents, and then file a claim with the Insurer or the TPA for reimbursement.
Cashless Claims
For the treatments availed in the non-network hospitals, the policyholder can file a claim for reimbursement of the treatment charges. Once the treatment is completed, the insured needs to settle the bill, collect all the documents, and then file a claim with the Insurer or the TPA for reimbursement.
In Case of Planned Hospitalization
In case of planned hospitalization, you need to inform the insurer at least 48-hours before the treatment.
Once you get the approval from the TPA, you can then file for reimbursement and cashless claims on submission of the claim form
Also, submit other related documents like medical bills, reports, discharge summary, etc.
Once the approval is provided, the claim amount is paid to you by the insurer in case of reimbursement claims.
In the case of cashless claims, the hospital bill is directly settled by the insurer
In Case of Emergency Hospitalization
In case of emergency hospitalization, you need to inform the insurer within 24hours of getting hospitalized.
Showcase your health card at the hospital
Submit the pre-authorization form to get TPA approval for emergency hospitalization for cashless claims.
If approved, the insurer will settle the claim amount directly with the network hospital.
If you fail to get TPA approval, you would need to file for reimbursement later.
Submit all the required documents like hospital bills, discharge bills, etc.,
The claim amount will be paid to you
How to Buy Best Health Insurance Plans from BIMAFINSERV?
Buying health insurance can be easy if you approach the right channel. Having said this, Bimafinserv.com can be a good platform for choosing the right insurance policy. Bimafinserv Insurance Broker Private Limited has made the process of comparing & buying a health insurance policy easier in comparison to earlier days. A person has easy access to complete details of almost all health insurance plans available in the Indian insurance market at a competitive price.
Bimafinserv.com helps you to compare numerous health insurance plans and zero down on the plan that best fulfills your needs. Moreover, the post-sale services are extended to the customers online as well even at the time of medical insurance claim.
