What is Individual Health Insurance?
Individual health insurance is an insurance plan that offers medical coverage to a person on an individual sum insured basis. It refers to the type of health insurance plan that needs to be purchased separately for each family member. It allows you to customize the coverage as per your own health needs and not of the entire family.
Most individual health insurance plans provide comprehensive coverage to an individual for emergency medical expenses resulting from hospitalization costs, day care procedures, road ambulance services, alternative treatment, organ donor expenses, etc. However, the premium and coverage of an individual health policy cannot be shared amongst your family members.
How term Insurance works?
Let Us Understand How The Term Insurance Works With The Help Of Example.
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Meet Sameer
Sameer, a Heathy and non Smoking male
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Bought Policy
Sameer bought a ₹ 1 crore Term Insurance for a 25 years policy term to source his wife financially
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Unfortunate Death
In the 4th policy year, Sameer suffered an unfortunate death
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Claim
His wife received a ₹ 1 crore death benefit from the Insurance.
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After claim
His wife can use the benefit & maintain her current quality of life.
PARTNERS
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