Health Insurance Plan
Health insurance plan in India

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Health insurance Plan

04 September 2019


Health insurance plan designed to provide coverage to individuals only are known as individual health insurance plan. Today, health insurance is indispensable for every individual residing in India keeping in mind the rising medical cost. Medical treatment costs have reached an all time high and are further expected to rise. Sickness, diseases, accidents can strike anyone, anytime and leave you devastated emotionally as well as financially. Though one cannot provide coverage for emotional loss, financial losses during medical emergency can certainly be covered under individual health insurance plan.


A personal health insurance policy is available in two types, individual health insurance and family floater health insurance. Individuals willing to be covered under a medical insurance policy alone can opt for individual health insurance policy. Similarly individuals willing to extend their medical coverage to the​ir beloved family may opt for family floater health insurance though individual health insurance is also an available options like family floater health insurance, individual health insurance policy is also designed to offer comprehensive and hassle free medical coverage. However, as there is only one individual covered under individual health insurance policy, the premium cost is comparatively much lower. All features and benefits remain the same in both the policy types only difference being that in individual health insurance policy only one individual is covered rather than the entire family and lower premium cost.


It is always advisable to go for a family floater health insurance policy in case there are more than one individual to be covered under a medical insurance policy. However, if the coverage is required for one individual only then it is ideal to have individual health insurance policy. E.g. Kishore is a 35 year old salaried individual who stays with his wife. He bought Rs 2 lakh individual health insurance cover for each of them. One day his wife falls sick and the hospital bills amount to Rs 3 lakh. Since the wife is only covered for Rs 2 lakh under individual health insurance policy, the remaining Rs 1 lakh expense has to be borne by Kishore from his own pocket. Now in a similar scenario if Kishore had a family health Insurance cover of Rs 4 lakh, his wife’s entire hospital expenses would be borne by the health insurance provider.​