You never know when a medical emergency can occur, and with rising medical inflation, accessing quality healthcare services is becoming increasingly inaccessible.
That is why having a health insurance policy is necessary not only to access quality medical care but also to save your finances from unforeseen medical expenses.
After you have decided to purchase an individual health insurance policy, the next step is to apply for it.
Through this guide, you can understand the exact steps you need to follow to buy individual health insurance for yourself.
What Is An Individual Health Insurance Policy?
Individual health insurance is a policy designed to cover the medical expenses of one person exclusively.
In this type of health insurance, only the policyholder can use the coverage benefits and get comprehensive protection.
Suppose you buy an individual health insurance plan for yourself, and later, you want to include your spouse or parents in the plan; then it would not be possible.
What Is The Eligibility For An Individual Health Insurance Plan?
To get individual health insurance, you need to fulfill the basic eligibility criteria. These criteria may vary between different insurance companies. However, here are the basic criteria that are the same for every insurer.
1. Age
Age plays the most significant role in determining whether you are eligible or not for a specific individual health insurance. So, every company sets a range of minimum and maximum years of age for their policies.
- Child — For a child, the minimum age is between 15 days to 90 days, and the maximum is 17 years.
- Adult — similarly, for an adult, the minimum age is 18 years, and there is no fixed age range for the maximum limit.
So, based on your age range, you can apply for the health insurance policy for yourself or your family members.
2. Medical History
Apart from your age, your family medical history is another important aspect. So, if you are above the age of 45, your insurance company might ask for pre-policy medical tests.
That is, they will analyze your medical condition based on the test reports. So, if your reports show some critical illness, then the policy will be drafted accordingly.
- Your policy will have a premium rate to cover the expenses for your critical illness.
- They can issue the mediclaim policy with certain conditions to help you during your treatments.
In addition to this, if you have health issues by birth, you need to notify your insurers about them. This will help them to offer you the best policy plan that covers all your needs.
So, based on these two main factors, your health insurance policy will be drafted. Giving you the best support for your requirements.
How To Apply For An Individual Health Insurance Policy?
Here are the steps to apply for individual health insurance with your chosen policy provider.
Step 1:
Visit the insurer’s official website.
Step 2:
On the home page, find their health insurance page.
Step 3:
Now, select the option to buy health insurance for yourself only.
Step 4:
Enter the required information, such as age, mobile number, email address, and location.
Step 5:
Next, enter the required information, such as the sum insured and policy tenure.
Step 6:
Review the multiple plans and their corresponding premium breakdowns. Once selected, pay the applicable premium to receive insurance instantly.
Documents Required To Apply For A Health Insurance Policy
To apply for an individual health insurance policy, you need to provide certain documents. They help in supporting your application with the right kind of proof.
- Identification Proof: Aadhar card, passport, or driver’s licence
- Residential Proof: Aadhar card, voter ID card, passport
- Age Proof: Aadhaar card, voter ID card, birth certificate, passport
- Proof of Income: Salary slips, bank statements, income tax return forms
- Medical Documents: Previous medical records, prescriptions, and previous health insurance documents (if applicable)
Benefits Of Individual Health Insurance
Having a health insurance policy for yourself can be quite beneficial. Some of its core benefits include:
1. Inpatient Treatment
Individual health insurance covers hospitalisation expenses for the treatment of illnesses, diseases, or injuries that require you to stay in a hospital as an inpatient.
This cover is beneficial to have in case you need to undergo a medical procedure that requires hospital admission.
2. Vaccination Cover
This health insurance policy also includes vaccination coverage as a benefit. The expenses related to certain vaccines are covered under the plan.
3. AYUSH Benefit
If you want to opt for treatment under Ayurveda, Unani, Siddha, or homeopathy, then having AYUSH Benefit in your health insurance plan is great for you.
This cover allows you to receive treatment as an inpatient or daycare treatment at any AYUSH centre or AYUSH hospital.
4. Ambulance Cover
Individual health insurance also includes coverage for ambulance expenses.
It covers expenses incurred for ambulance services during an emergency, as well as transportation from one hospital to another for better treatment and access to specialised medical facilities.
5. Health Checkup
Prevention is always better than a cure. With individual health insurance, you can get preventive health checkup benefits.
Having this benefit helps you receive an early diagnosis of any critical illness, especially if you have a family history or a previous medical history.
6. Consumables Benefits
Individual health insurance also includes benefits for over-the-counter medications and other personal care items.
It means the policy covers the cost of consumable items used during the hospitalisation period that were directly related to your medical or surgical treatment of an illness, injury, or disease.
Get Insured With TATA AIG Individual Policy
Obtaining an individual health insurance policy is your best defence against medical inflation and protecting your finances.
With an adequate sum insured policy, you can cover your planned or unforeseen medical expenses.
Be sure to research and compare options before applying for any insurance plan, and choose a reputable insurance provider to ensure you are properly insured.
For example, TATA AIG’s MediCare health insurance is a great plan with several policy benefits.
It includes bariatric surgery coverage, hearing aid expense coverage, and organ donor coverage policy restoration benefits, as well as pre-and post-hospitalization expense coverage.
Read Also:
