Top 5 Reasons to Buy an Individual Health Insurance

Health insurance policies are among the basic investments made by buyers to protect their loved ones against diseases and unforeseen accidents. Likely, you too have been wondering which plan you should go for. Individual health insurance is made to provide you what you wish in an insurance plan. Let’s get to know what are the facts that make individual insurance plan different than others and why should you go for one.

#1 You Are Aware of Plan

The major benefit of these insurance is that you got to know what you are getting a particular insurance plan. They provide a clearly mentioned document that talks about all the coverage, benefits as well as terms and conditions in the insurance plan. Also, you can get in touch with insurance experts from different companies for the same. They will listen to all your queries carefully, explain the plan detail clearly and let you know which plans are most suitable as per your specific requirements. Talking with experts from various providers, you will develop a sense of understanding that will lead you to decide on a low-cost health insurance with most benefits.

#2 You Can Choose

Under these plans, you get the freedom to choose a coverage that you won’t get in group insurance plans. Once you have requested an insurance online and started getting health insurance quotes from different providers, you can tailor your insurance benefits as per your specific requirements. You can get in touch with an insurance expert and tell them the exact coverage you want for you as well as your loved ones. You can also let them know if you want any other benefit to be included in the insurance plan. Depending on your requirements they will offer different insurance plans and you can choose one with the cheapest premium.

#3 Cashless Claim Service

This is one of the most featured benefits of having an individual insurance plan. The cashless claim service enables you to get medical treatment without paying a single buck out of your pocket. This means if you or one of your loved ones falls ill or unfortunately meets an accident, you will get direct admission to the hospitals in the network of insurance provider and treatment will start without paying any amount. This is the greatest relief to the family members of the patients as most of the time they aren’t prepared for this. Meanwhile, the patient is being treated the loved one can inform the insurance provider about the incident and their admission to the hospital. Once the treatment is done, you can send the medical bills to the insurance company and they will directly pay to the healthcare provider hospital or nursing home. This unique feature has made getting the emergency treatment easier than ever.

#4 Daily Treatment Allowance

Another reason why should you look for an individual insurance plan. These plans not only provide a cover for the medical and surgical expenses but also, they take care of the expenses while the patient’s stay in the hospital. This means if your loved needs to stay in a hospital for treatment purposes, you don’t need to worry about the daily expenses such as room charges, doctor visit charges, diet essential and other essential expenses. Your insurance plan has a mentioned about how much money can be spent on patent’s stay in the hospital and they will pay for the maximum amount according to the health insurance claim denial chosen by you.

#5 Tax Benefits

Other than the treatment expense coverage, these plans are also known for providing the relief from federal taxes as well. The amount you invest in buying an insurance plan is excluded from the taxable income and you don’t have to pay any taxes of the same. These means you can deduct the amount spent on medical expenses from the taxable income and rest amount will be your new taxable income. Especially, this is a big blessing for those buyers whose loved ones have a terminal disease and have bought a very expensive insurance plan. These plans protect such people from an additional burden of paying the taxes on the money spent on the treatment of patients.

Scroll to Top