An Individual Health Insurance Policy covers the healthcare expenses of an individual and his/her family members up to a specified amount, applicable for each individual separately, all at a cost far lesser than what the individual would have to pay for a single hospitalization if they weren’t insured. Individual Health Insurance is different from Family Health insurance in a way that in individual health insurance each member is covered for a specific amount, unlike Family health insurance where there is a common amount available for the entire family.
Individual Health Insurance works best for large families or for families with Senior parents as family floater policies Sum Assured may not be sufficient to cover all the members. It is also best suited for earning bachelors who have crossed the age to get covered under Family Insurance.
Coverage for medical expenses includes: