We are all much healthier than we were 20 years ago, but mentally, we're falling apart. The World Health Organization now estimates that one out of five people is clinically depressed.
The individual health insurance- by name specifies that individuals who have taken the policy can enjoy the benefits of the policy that covers health and hospitalization expenses. The company determines the premium as per the age of the insured. The insured has to pay a predetermined amount for health care services and has got lifetime renewal. This is the most familiar and beneficial affair since the individual receives a 10-33% bonus for every claim-free year. The treatment reimbursement done in a non-networking hospital can also claim individual health insurance. Legally under Section 80D of the Income Tax Act, the tax benefits can be availed on the premium paid. In personal health insurance, the cover amount may vary from 10% to 90% for the sum insured for a few diseases. For example, treatments related to intoxicating substances like alcohol cannot be treated.
Of course, cosmetic and aesthetic treatments are not covered under the policy. Therefore, costly treatments and emergency cases become crucial for many individuals. Hence in such cases, individual health insurance is a boon for many people.
