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Individual Insurance

Due to the collective nature of Indian society, the well-being of family and relatives is often given precedence over individual wellbeing. In order to ensure health and happiness for the family, we ignore individual health. It is pertinent to note that the prosperity of a family depends on the welfare of each member. Being the breadwinner, your health is of utmost importance. ADVORANCE Individual Health Insurance can be the one-stop solution for your wellbeing. A comprehensive network of many insurance Companies and superfast processing ensures that you get the best treatment within minutes.

Health insurance is an agreement between an insurance provider and an individual wherein the former guarantees to take care of certain medical costs of the latter based on the investment made. Some plans offer health insurance for individuals while others offer health insurance for family and group.

The Individual Health Insurance plan covers only one individual, the policyholder, who will gain the benefits of the health insurance for his investment.

Key Features:

  • This kind of health insurance for individuals offers cover only for the insured individual.
  • The insurance provider covers certain medical costs of the insured based on the premium paid.
  • Hospitalization- The policy covers hospitalization charges.
  • Lifetime renewal.
  • Tax deductions under section 80D of the Income Tax act.
  • Covers surgery costs, room rent, physician’s fee and laboratory tests.
  • The insured has to pay a predetermined amount for certain health care services. This is called co-payment.
  • Pre and post hospitalization expenses are covered under this plan.
  • Provides coverage for critical illness.

Advantages of Individual Health Insurance Plan:

  • In individual health insurance plan, the insured alone earns all the benefits under the plan.
  • The individual will earn the benefit of individual sum assured rather than floating sum assured.
  • Best suited for people with higher health risks.
  • Parents and immediate family members can be added to the plan.
  • No restrictions on the maximum age for the members for the renewal of the policy.
  • There is no need to worry about making more than one claim in an year since the plan caters only to a single person.

Who should buy this plan?

  • The plan is best suited for individuals with higher health risks.
  • Single individuals with family members who are already insured.
  • An individual who wants to earn the benefit of the sum assured rather than floating sum assured.
  • Individuals who want to renew the policy without having to worry about any age restrictions.
  • An individual who wants higher protection than what is offered under a family floater plan.
  • Cashless facility for claim settlement can be availed in this plan.