One of the best individual health insurance policies in India is offered by Tata AIG. With the Tata AIG Individual Health Insurance Policy, you can safeguard yourself against various ailments or unexpected events. When caring for and defending our loved ones, we occasionally forget about our well-being. To preserve the happiness and health of our loved ones, we sacrifice our happiness and well-being. It’s important to remember that each person affects the family’s health. Your health is essential since you are the one who earns. People became more aware of the value of financial stability and good health due to the coronavirus pandemic. Because of this, more people than ever before are buying health insurance.
Recent studies show that healthcare inflation in our nation is rising twice as quickly as overall inflation. Due to this, people between the ages of 40 and 50, as well as those in their 20s, have started to understand the need for a health insurance plan and are looking to purchase individual health insurance to prevent their pockets from being punctured by high medical expenses.
When it comes to your health, Tata AIG Personal Health Insurance might be your one-stop shop. You will receive the greatest care in minutes with a broad hospital network and super-fast processing. Additionally, since the individual health insurance policy covers the costs of any illness or unplanned accident, you do not need to worry about them if you are diagnosed.
Meaning of Individual Health Insurance
Individual health insurance, often known as personal medical insurance, offers medical coverage to individuals on the basis of a specific sum insured. It enables you to customize your policy covers only to cover your health needs, not those of your entire family. It suggests that each family member must have their own medical insurance.
Almost all personal medical insurance policies often cover emergency medical costs from hospitalization, day care procedures, alternative treatments, road ambulance services, organ donation fees, etc. Family members cannot split the cost of their health insurance coverage or premiums.
Kinds Of Personal Medical Insurance Plans Available In India
The following types of medical insurance are included in individual or personal health insurance policies:
- Critical Illness Insurance: If your family has a history of severe health problems, you might want to consider getting compulsory illness insurance, which provides coverage for a variety of risky diseases
- Senior health insurance: These plans are created to satisfy the medical needs of persons over 55. This insurance provides coverage for many health problems older people are more likely to face. Anyone aged 55 to 80 may enroll in one of these plans
- Personal accident insurance: Road accidents are relatively common in India. An excellent alternative for you may be personal accident insurance coverage if you frequently travel for pleasure or business. These laws are meant to protect policyholders against mishaps. Generally speaking, the plans cover the policyholder’s hospital and medical costs in the event of an accident
What Is The Function Of An Individual Health Insurance Policy?
When you purchase personal medical insurance, you agree that the expenses up to the amount covered will be paid for following the conditions of the insurance policy. You are required to pay regular premiums in return. Assume you have the most excellent medical insurance available, with a five lakhs coverage amount. The insurer must pay your hospital bills in line with the terms and conditions of the medical insurance policy if you are hospitalized after purchasing the insurance. Let’s assume that the hospital bill came to 2 lakhs. Your insurance company will cover the hospital’s fee, and your annual covered amount will be reduced to 3 lakhs.
- A total of 5 lakhs in insurance
- Your insurance company paid a hospital bill of 2 lakhs
Individual Health Insurance Plan: Exclusions And Inclusions
The type of insurance and insurer you select will affect the exclusions and inclusions of a personal medical insurance policy. The standard list of exclusions and inclusions is as follows:
Exclusions under the Tata AIG Individual Health Insurance Cover
- Vision, Hearing, and Dental-related expenses
- Pre-existing conditions
- Abuse of drugs or alcohol
- Cosmetic surgery
- Alternative therapies
- Infertility treatment
- Obesity treatment
- HIV AIDS
- Illness or injuries as a result of nuclear perils
- Self-Inflicted Injuries
- Pregnancy and Associated Conditions
Inclusions under the Tata AIG Individual Health Insurance Cover
- Pre and Post-Hospitalisation
- Hospitalization
- Ambulance Costs
- COVID-19 Treatment
- Day Care Procedures
- Domiciliary Hospitalisation
- Preventive Health Check-up
- Organ Donor Expenses
Individual Health Insurance Under Tata AIG: Benefits
Benefits of a Tata AIG Personal Medical Insurance policy include those listed below:
- Solo coverage: It guarantees that you may use the protected funds alone
- Ideal for the Elderly: Due to the higher health risks older people encounter, it is more suitable for them
- Insurance Sum: The highest insurance amount, which varies per insurance coverage, is Rs. 1 crore
- Broad Coverage: Personal medical insurance plans offer more comprehensive coverage, including inpatient hospitalization, childcare operations, pre- and post-hospitalization, ambulance costs, etc
- Add-on Covers: You can buy add-on covers, including those for maternity, critical illness, outpatient treatment, restoration, etc
- Several Claims: Throughout the year, you may make several claims as long as the covered amount is not exhausted
- Family Discount: Almost all personal medical insurance plans offer a family discount if more than two family members are individually insured
- Cumulative Bonus: If you didn’t file an insurance claim during the previous policy year, you’d receive a premium decrease
- Lifetime Renewal: Personal health insurance is perpetually renewable
- Tax Benefits: It offers tax savings on paid premiums as indicated in Section 80D of the Income Tax Act
Why Should You Purchase An Individual Health Insurance Policy?
An inevitable occurrence is an inflation. You might be surprised that our country’s healthcare inflation is rising twice as quickly as overall inflation. Even when savings instruments have enticing interest rates, when inflation is considered, they are insufficient to cover the costs of medical procedures.
Due to this, people between the ages of 40 and 50, as well as those in their 20s, have started to understand the need for a health insurance plan and are looking to purchase individual health insurance to prevent their pockets from being punctured by high medical expenses.
Personal medical insurance is a useful tool to help you pay your projected medical bills. Medical insurance protects you from the effects of inflation by paying for various expenses, such as equipment, treatment, diagnostics, and medications. A personal medical insurance policy offers significant financial assistance during medical emergencies. Simply put, an individual health insurance policy must be a crucial part of your financial plan.
- Protection from Medical Emergencies: By acquiring a personal health insurance policy, you can easily extend the protection your current health insurance policy provides. As a result, you will have adequate financial protection not just from common illnesses but also from dangerous ones like cancer, cardiovascular disease, and renal failure
- Savings Security: If you don’t have personal health insurance, you’ll be liable for high medical costs associated with your treatment. You would have to draw on your savings or take on debt, neither of which are sensible options for ensuring your future financial security. Your life’s hard-earned possessions, your savings, shouldn’t be emptied by the financial impact of a diagnosis. Thus, having personal health insurance can help you to keep more of your hard-earned money
Purchasing A Personal Medical Insurance Policy Online With Tata AIG
Personal medical insurance coverage can be easily purchased on the official Tata AIG website. You can compare plans and prices using our online health insurance premium calculator and choose the best option. You must carefully follow the instructions provided below to get individual health insurance online:
- Launch your favorite web browser and navigate to Tata AIG’s official website
- Choose the “Health Insurance” button in step two
- Enter your name, phone number, gender, age, and zip code
- Select your city and mention any ailments or operations you’ve had in the past
- You can compare medical insurance plans and rates with the help of our online health insurance premium calculator and choose the one that best matches your needs
- You can pay your premium online using any payment gateway of your choice after selecting the personal medical insurance plan
- Your medical insurance will be given to your registered email address as soon as the transaction is successful
What To Consider When Purchasing An Individual Health Insurance
You wonder which medical insurance plan is the greatest every time you look for one for yourself or your family. How do I locate the best-individualized health insurance plan online? What sort of coverage ought the contract to provide? Continue reading to learn how to find the most excellent individual health insurance plan, which will answer your questions.
Get an Adequate Amount Insured for Yourself
Due to the high cost of treatment in metro areas, a person’s overall insurance should ideally range between 7 and 10 lakhs. An insured sum of Rs. 8 and Rs. 15 lakhs on a floater basis is excellent if you’re looking for a family plan to cover your spouse and children. More than one hospitalization must be covered by it every year.
Affordability
Co-pay your hospital expenses if you wish to reduce the cost of your medical insurance premiums. You ultimately decide to split the costs of the medical care with your medical insurance, saving you money on the premium. Another option is the Tata AIG Individual Health Insurance plan, which accepts monthly, semi-annual, quarterly, or annual payments.
Extensive Hospital Network
Always verify whether the insurance company has a sizable network of hospitals. You can receive care without paying if your insurance provider lists the medical center or neighborhood hospital. We have a vast network of more than 7,200 hospitals here at Tata AIG.
No Sub-Limits Assistance
Your medical expenses are typically influenced by your illness and the kind of room you are in. To ensure you can choose the hospital room that best meets your needs chooses a personal medical insurance plan without sub-limits on hospital room costs. It’s important to remember that most programs do not include limitations due to illness.
Examine the Waiting Periods
Your private medical insurance plan is not activated when your waiting period is in effect. Before buying individual health insurance online, you should always search for plans with fewer waiting periods when it comes to maternity benefits and pre-existing conditions.
Reliable Brand
Always choose an insurance provider with a good track record in the sector. To know if a brand will honor future claims, you need to consider its capacity for paying claims and its consumer base.
Claiming Individual Health Insurance Policy: Documents Required
You must have detailed documentation available when filing an Individual Health Insurance claim. The paperwork needed to submit a Personal Medical Insurance claim is listed below:
- Claim Form: To begin, send a personal medical insurance claim form to Tata AIG that has been appropriately filled out and fully signed. You may submit this form online by clicking here. This page allows you to check the status of your insurance claim. If you are diagnosed with the condition that is covered by your individual health insurance within a month (30 days), you must inform us
- Other Important Documents: After receiving your basic personal medical insurance plan claim form, we will need the following paperwork from you or whoever is claiming on your behalf:
- All required treatment records, case history, investigation findings, and hospital discharge summaries
- A comprehensive and accurate diagnosis of the therapy for which the insurance claim is being filed
- Our experienced claims department considers any extra document necessary for the claims process
Within 15 days of your hospital release or the conclusion of your treatment, we will verify the integrity of the information about your individual health insurance policy claim. If we are satisfied with your Individual Health Insurance plan claim and associated documents, we will pay the approved insurance claim within thirty (30) days of receiving all necessary documentation.
Lastly
Your individual health insurance plan protects you at both network and out-of-network hospitals. However, you can only use the cashless service at hospitals connected to the Tata AIG network. You won’t be able to use the cashless option and might need to provide treatment or hospitalization fees to get a claim if you go to a Tata AIG non-network facility. Additionally, go with a medical insurance package that has a wide network of hospitals; the medical insurance plans from Tata AIG are the best in this category. It is advised that these details be read through and comprehended before signing the insurance policy form.