Health is the most discussed topic in the room. It is significant to track mental or physical health. Many of us have realized the importance of health insurance in the past two years as life is unpredictable. Many factors like hospitals under coverage, benefits play a significant role in medical insurance. With so many new offers, features, it isn’t easy to make a good choice. We have to consider all the factors when choosing Individual Health Insurance Plans. A few of them are listed below.
This factor plays a significant role in choosing an individual plan. It should include pre-and post-hospitalization charges, treatment, ambulance charges, etc. While opting for a plan like this, the insurer takes care of all the treatment costs of the individual with a fixed sum. Sometimes patients are asked to undergo a health check-up before signing up for an individual plan as some insurers do not bear the cost of pre-existing medical conditions. They have a specific waiting period (3-4 years), after which they start bearing the costs of the patient. Thus, patients undergoing medical conditions like cancer are advised not to go for immediate Individual Health Insurance Plans.
- Tax Benefits
Some of the Individual Plans offer tax benefits/ tax exemptions. The amount differs from country to country. For instance, in India, patients can avail tax benefits of up to 1 Lakh rupees. It was introduced to encourage more people to get an Individual Health Insurance Plan.
It is undeniable that individual plans are way more affordable than family floater plans. As burdening yourself with extra financial pressure while going through a medical condition is the last thing, anyone wants to go through. Thus, it is advised to take up the individual plan as they could be bought for every single member of the family. This plan saves a lot in the pocket, which can be further used in the treatment apart from the insurance.
All these factors conclude that Individual Health Insurance Plans are the best choice as family floater insurance plans come with great responsibility and financial load. As an independent individual, you can directly focus on paying your insurance bills with practically no financial burden. Globally, several companies offer Individual plans with great offers and benefits. So, what are you waiting for! To know more, you may look over the web.