Individual Health Insurance Plan

Individual health insurance is the most basic health insurance and should be a part of your health care planning. In this plan, both the insurance premium and sum insured are for the individual and cannot be shared.

Every person is unique, and so are their medical needs. Hence it is wise to consider purchasing individual health insurance for every family member. Get coverage for expenses incurred due to hospitalisation, doctor’s consultation, ambulance services, treatment charges, or pre-and post-hospitalisation with individual health insurance plan offerings.

Bajaj Finance offers comprehensive individual health insurance plans to help you secure yourself and your family in a medical emergency.

Key features and benefits of Individual Health Insurance

Here are some of the key features and benefits offered under the individual health insurance plan:

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  Hospitalisation expenses

  Individual health insurance plans offer coverage for medical expenses incurred during hospitalisation.

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  Pre- and post-hospitalisation

  All your pre-hospitalisation charges for up to 60 days before admission and post-discharge expenses for up to 90 days are covered.

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  Day-care procedures

  Medical advances enable major operations and treatments to be completed in less than 24 hours. These treatments are covered under the day-care procedure.

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  Domiciliary cover

  If your doctor recommends you seek treatment for any medical issues at home, this option will be helpful.

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  AYUSH benefits

  Individual health insurance offers coverage for alternative medicines like Ayurveda, Unani, Siddha, and Homeopathy as well. It also covers hospitalisation costs for AYUSH therapy.

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  Organ donor expenses

  The plan covers the organ donor’s medical and surgical expenditures for a major organ transplant.

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  Sum insured rebound

  In case if the claim exhausts the base sum insured and cumulative bonus, the rebound that comes into action to the extent of the base sum insured serves as a backup to help you manage your medical expenses.

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  Cumulative bonus

  Get a cumulative bonus for every claim-free year. The insurer rewards you by increasing your sum insured.

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  No medical tests up to 45 years

  If you are young, healthy, and fit, you may acquire a personal health insurance plan that does not need any medical examinations, subject to you not having any pre-existing disease.

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  Recovery benefit

  Many individual health insurance plans offer the benefit of cash allowance to help your family meet all financial needs, while you seek treatment at the hospital. If you are hospitalised for more than ten days in a row, get compensation from the insurer for any additional financial requirements of your family in your absence.

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  Mental healthcare

  The policyholder can avail coverage for the treatment of mental illnesses.

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  Health check-ups

  The plans offer free annual health check-ups, preventive health check-ups to help you maintain a good health record. Some of the plans also offer free health check-ups at the time of renewal.

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  Lifetime renewability

  Many individual health insurance policies offer lifetime renewability options, ensuring you are secured for the rest of your life. This option helps you to renew your policy on expiry at any time in your life.

Pre-existing diseases

Comorbidities, a family history of renal, cardiac, cancer, and other problems, a propensity to diabetes, risk factors at one’s employment, and other variables all play a role in determining the kind of personal health insurance coverage.

Premium

Choose a health plan that provides comprehensive coverage that meets all your requirements and is worth the premium paid.

Cashless hospitalisation

The benefit allows family members to focus on the situation at hand rather than rush to arrange for money in case of medical emergencies. You can avail of this facility at the insurer’s network hospitals by simply using your insurance identity card.

Comprehensive coverage

Hospitalisation and pre-and post-hospitalisation expenditures are covered by comprehensive personal health insurance. Medical tests, ambulance fees, medications, doctor’s fees, and other expenses may be included.

Cumulative bonus

A cumulative bonus is a monetary advantage the insurer gives the policyholder for having a claim-free policy year. This sum is typically added to the medical insurance plan for individuals at renewal and can result in a considerable increase in coverage.

Here are some of the reasons why you need individual health insurance:

Lifestyle and diseases

Stress, pollution, poor eating habits, device addiction, and unstructured lives have contributed to the prevalence of lifestyle illnesses.

Increasing medical inflation

The expense of medical treatment in India is continuously rising. With a health insurance plan, you can stay financially equipped to meet all the expenses during a medical crisis.

Significant savings

Health insurance helps you keep your savings intact during medical emergencies. It prevents out-of-pocket medical expenses by financially securing you and your family during medical contingencies.

At the time of an emergency, you can claim your individual medical insurance by following the set of steps given below:
• Step 1: Fill up the pre-authorisation form at the network hospitals to claim cashless approval at the time of hospitalisation
• Step 2: The insurer then approves the request and notifies the hospital
• Step 3: Following which the hospitalisation can be done based on approved pre-authorisation
• Step 4: At the time of discharge, the claim will be settled directly with the hospital
A similar set of steps can be followed to claim other individual health insurance plans.

The main aim of obtaining a health insurance plan is to attain financial stability against the medical expenses that may occur unexpectedly. With an individual health insurance plan, you benefit from accessible and stress-free treatment at top network hospitals across the country. It ensures that an adequate sum is insured at an affordable premium.

An individual health insurance plan provides coverage against the following:

• Hospitalisation

The expenses arising from illness or injuries are covered under the plan. The insured can also get coverage against the hospitalisation charges for COVID-19 treatment.

• Pre and post-hospitalisation

You can get covered for up to 90 days of pre and post-hospitalisation expenses.

• No-cost health check-ups

There also is an option to get preventive health check-ups at no cost. However, this may vary based on the individual health insurance plan and partner you opt for.

• Ambulance Facility

As a part of the individual health insurance policy, you may also benefit from the road and air ambulance coverage.

• Daycare treatment

The medical expenses incurred on the insured person’s day care treatment following an injury/illness during the policy period are also covered under the plan.

• Home healthcare

A few insurance providers also pay expenses under an individual health plan during home hospitalisation.

• Daily allowance

A fixed amount shall be paid to the insured for each continuous and completed period of 24 hours of hospitalisation

• Organ donor expenses

The medical expenses that may occur due to harvesting a major organ from the donor’s body for organ transplant surgery is covered under the policy.