This kind of plans covers the health and expensive medical treatment related to medicines or hospitalization due to the accident, sudden illness or surgery during the policy term. This is a perfect solution for someone who cannot afford quality treatment because of higher charges or unavailability of the necessary cash. These are policies which are purchased by an individual for themselves and their family based on the person's need and budget. Unlike job-based health plans offered by the company, which only lasts until the person's employment with the company, these plans carry forward until the pre-decided maturity date of the plan.
There is no way to know when someone would be having a health-related emergency, so an individual health plan makes sure that the person has enough money to cover his/her expenses in case of emergency irrespective of whether the plan has matured or not. When something health-related issue happens to a person, a lot of money is spent by the person in curing the issue, which if someone has health plan would be covered in the insurance and the net money he/she would end up spending would be less. One thing one needs to be careful about is not all diseases or hospitals come under the health plan and one needs to be careful while setting the perfect plan for them so that most diseases are covered under it.
It is important to ensure that your policy integrates all kind of health issues and provide financial support to you whenever you are in need.
Another common occurrence nowadays is that the policy covers a certain number of hospitals and the person is forced to go to one of those hospitals so as to have a claim.
The health insurance policy is very important for you, but you need to check that the health policy is affordable to you and the premium lies in your budget.