Is Individual Health Insurance Right For You?

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Health insurance comes with a two-fold benefits-one side, it covers your hospitalization expenses, and on the other side, it helps you save more.  However, the earliest you get insured, the sooner you can reap the benefits out of it.  So, if you have just started earning or have other financial obligations, health insurance for individuals is something that you can opt for. Designed explicitly for individuals, these are highly flexible and cost-effective health insurance plans that have become a popular pick, especially among youngsters. You can buy it for yourself or your family members separately. Let’s check why an individual health insurance policy is right for you.

Young Age: The incidences of lifestyle diseases are rising in India, and a medical emergency can knock on the door anytime. So, why take the risk? Keep yourself insured at a young age and reap its benefits later in life.

Limited Income: If you just started your job or have limited means of income, health insurance for individuals serves your purposes. It covers your hospitalization expenses during an emergency or planned treatment so that you can take care of your other daily needs.

Insufficient Corporate Policy: You should opt for an individual health insurance policy if you find that the Sum Insured offered under your corporate policy is not enough for your healthcare needs.  Secondly, you can also buy it for your family members individually.

Single: If your marital status is single, you should go for this health insurance. You will get comprehensive coverage and do not need to feel stressed about your healthcare. With this policy, you can save more and keep the money for your future.

Lower Premium: Big ease on your pocket! The premium for health insurance plans for individuals is comparatively lower. You have to pay only for a single policy that does not overburden your monthly budget.

Adequate Sum Insured: Leading health insurance brands like HDFC Ergo, ICICI Lombard, Care Health Insurance offer health insurance for individuals with a sufficient sum insured. Check their plans for more details.

Extensive Coverage: This policy is no way less in terms of coverage. Whether it is in-patient hospitalization, pre, and post-hospitalization, ambulance, second opinion, alternative treatment, etc., it offers a wide range of benefits. 

COVID-19 Cover: As the mask is necessary to keep at bay from coronavirus, health insurance is vital to combat the virus. Below are the companies that offer health insurance for individuals with COVID cover:

  • Care Health Insurance
  • HDFC Ergo
  • ICICI Lombard
  • Godigit

               *Terms & conditions apply

No Waiting Period: At a young age, you are less prone to pre-existing diseases such as diabetes and hypertension, which comes with a waiting period under the health insurance. You can quickly get over the duration and, if required, can file a claim later in your life.

No Pre-Policy Medical Check-Up: Sounds good? Yes, it is true. You do not need to undergo any pre-policy medical check-up while buying the policy. 

Tax Benefits: Stay healthy and save more with an individual health insurance policy. You can avail of tax benefits up to Rs.25, 000/- per year against the premium you pay for it.


Therefore, if you are in your 20s or 30s, it is the right time to opt for health insurance for individuals. You can bear your healthcare expenses without giving your parents a financial burden and stay worry-free. However, switching to family floater health insurance is the wise decision if your family extends in the future.