Individual Insurance

Individual insurance is a personal policy purchased directly from an insurance company to provide financial protection for a single person or family, rather than through an employer or group plan. It allows you to customize coverage according to your health needs, lifestyle, and budget. Common types of individual insurance include health, dental, life, critical illness, and disability coverage.

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Unlike group insurance, which is offered automatically through employment, individual insurance often requires an application process that may include medical underwriting or health questionnaires. Once approved, the policy remains in effect as long as premiums are paid, even if you change jobs or retire. This makes individual insurance especially valuable for self-employed individuals, retirees, or anyone not eligible for group benefits.

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Example:

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If you leave your job and lose your group benefits, you can purchase individual health and dental insurance to continue coverage for prescription drugs, dental care, and vision expenses under your own policy.

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What to Watch For:

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Compare multiple insurers to find the right balance of premium cost and benefit coverage. Medically underwritten plans typically offer higher coverage limits at lower rates, while guaranteed issue plans provide easier approval but lower maximums. Always review exclusions, waiting periods, and renewal terms before purchasing.