Individual Health Insurance: How to Enrol Online & Offline?

Posted on: Dec 26, 2024 | 3 mins | Written by: HDFC ERGO Team

Individual Health Insurance: How to Enrol Online & Offline?

Health insurance is no longer a luxury; it is a necessity. Soaring healthcare costs and the uncertainty of illnesses make having health insurance indispensable. Individual health insurance offers coverage tailored to meet your specific medical needs, ensuring peace of mind and financial security. However, the process of enrolling in such a policy may seem daunting. This blog simplifies the process by outlining both online and offline ways you can enrol in individual health insurance.

Steps to Buy Individual Health Insurance Plans

When buying a health insurance plan, consider the following steps —

1. Assess Your Needs

Every individual’s requirements vary based on his/her age, medical condition, lifestyle, and responsibilities. It is essential to assess your needs rather than blindly paying the premium for an XYZ policy.

Start by considering the number of dependent members in your family to determine whether you need an individual or family floater plan. Next, evaluate your current health status and the risk of developing a major illness due to any pre-existing condition, such as diabetes.

Lastly, consider your premium payment capacity to determine how much sum insured you can afford. For example, if you are in your late 20s with no major health concerns, you may opt for a basic plan with a lower sum insured and premium.

2. Research the Market

Research the plans and add-on options offered by different insurers. Check for any copay clauses or restrictions on room rent. Additionally, compare the claim settlement ratio to assess the insurer's responsiveness in approving claims.

3. Coverage

Once you have decided on the insurer, download the policy brochure to read the list of inclusions and exclusions. Review the claim process and understand the waiting period. If you are unaware of the waiting period clause, it refers to the duration within the policy during which you cannot raise a claim for any illness. The waiting period generally differs based on the type of disease.

4. Check Deductibles

A deductible in health insurance is the fixed amount you must pay out-of-pocket for medical expenses before your insurance starts covering costs. For example, if your deductible is INR 10,000, you pay that amount first, and the insurer covers expenses exceeding it.

It is important to review this clause, as increasing the amount of voluntary deductible lowers the premium amount.

Ways to Enrol in Health Insurance

You can enrol in individual health insurance, either online or offline.

1. Online Enrolment

Purchasing a policy online is the most convenient option, as it allows you to secure coverage within minutes from the comfort of your home.

Here are the steps involved —

• Visit your insurer’s official website.

• Provide your personal details, such as age, occupation, and information about any pre-existing health conditions (if applicable).

• Select your preferred plan and choose any additional riders you wish to include.

• Speak with an insurance executive. You will receive a call from a company representative, who will ask for detailed information about your medical history. Be honest, as withholding details could lead to claim rejection in the future.

• Undergo a medical screening. Based on your current health status, you may need to visit an affiliated diagnostic centre for a medical examination.

• Complete the payment. Once all formalities are completed, a payment link will be sent to your email. Pay the premium, and you are covered!

2. Offline Enrolment

Offline, you have two options to enrol for individual health insurance. You can purchase it directly from the insurer by visiting their branch office or through a registered insurance agent. While the former may be a bit time-consuming, you don’t have to bear the burden of the commission that you would otherwise pay to the agent.

Conclusion

Enrolling in individual health insurance is a proactive step towards securing your health and financial stability. Whether you prefer online convenience or personalised offline guidance, there are multiple ways to enrol. By assessing your needs, researching policies, and following the right enrolment method, you can safeguard yourself against unforeseen medical expenses.

Frequently Asked Questions

1. What documents do I need to enrol in individual health insurance?

Documents typically include identification proof, address proof, medical history, and sometimes a health check-up report if you are above a certain age.

2. What factors should I consider before enrolling in individual health insurance?

Consider the premium, scope of coverage, exclusions, waiting periods, network hospitals, the insurer’s claim settlement ratio, and customer support services.

3. Are there any waiting periods after enrolling in individual health insurance?

Yes, insurers often impose waiting periods for pre-existing conditions, maternity benefits, or specific treatments.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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