Individual Health Insurance
The NITI report says that around 50% of people are covered by health insurance in India through state government extension schemes and 20% of people are covered by social health insurance and private voluntary schemes. The remaining 30% of the population is devoid of health insurance.
It is apparent from the report that despite increased awareness of health insurance, it is still not viewed as a priority. Intent and actual purchase are still far apart.
Medical emergencies can strike at any time. In your youth, the chances of falling ill are low, but not zero, and accidents can also happen. A situation like this may put a significant strain on your finances. By having a good health insurance plan, you can avoid this financial blow to your savings and provide yourself with the much-needed cushion to bear the costs of doctor's visits, tests, medicines, and other procedures.
One of the most popular forms of health insurance is individual health insurance. What gives this plan an edge? Individual health insurance is dedicated to a single person. Every person is unique and so are their medical needs.
Let’s have a detailed look at individual health insurance.