Frequently Asked Questions about Individual Health Insurance
Individual health insurance is a type of insurance policy that provides coverage for medical
expenses incurred due to illness, injury, or hospitalization for an individual. It offers financial
protection against unexpected healthcare costs and ensures access to quality medical
treatment without worrying about the financial burden.
Individual health insurance typically covers hospitalization expenses, including room rent,
doctor's fees, surgical costs, diagnostic tests, medication, and pre-and post-hospitalization
expenses. Some policies may also offer additional benefits such as day-care procedures,
maternity coverage, and ambulance charges.
The ideal coverage amount depends on factors such as your age, health condition, family
medical history, lifestyle, and healthcare costs in your region. It's recommended to choose a
coverage amount that adequately protects you against potential medical expenses without
overburdening your finances.
Yes, many individual health insurance policies allow you to add family members like spouse,
children, and dependent parents as beneficiaries by paying an additional premium.
Alternatively, you can opt for a separate family floater policy to cover the entire family
under a single plan.
Yes, individual health insurance policies typically have waiting periods for specific illnesses,
pre-existing conditions, maternity benefits, and certain treatments. It's essential to
understand the waiting period clauses mentioned in the policy document before making a
claim.
Yes, most insurance companies offer cashless hospitalization facilities at network hospitals,
where you can avail of medical treatment without paying cash upfront. The insurance
company settles the bills directly with the hospital, subject to policy terms and conditions.
Yes, individual health insurance policies may have sub-limits on room rent, ICU charges,
doctor's fees, and other expenses, which determine the maximum amount payable by the
insurance company for each category of expenses. It's essential to choose a policy with sublimits that meet your healthcare needs.
Yes, you can port your individual health insurance policy to another insurer without losing
the benefits accumulated under the existing policy, including waiting period credits and noclaim bonus. However, portability is subject to certain conditions and should be done within
the stipulated time frame.
Some individual health insurance policies offer coverage for pre-existing medical conditions
after a waiting period, during which no claims related to the pre-existing condition are
admissible. It's essential to disclose all pre-existing conditions at the time of policy purchase
to avoid claim rejection later.
Individual health insurance policies can be renewed annually by paying the premium before
the policy expiry date. Many insurers offer online renewal facilities through their websites or
mobile apps for convenient renewal. It's crucial to renew your policy on time to ensure
continuous coverage without any break.