Individualized instruction is a teaching method that bases content, instructional methods, and pacing of learning on each student's abilities and interests. It requires assessing students' backgrounds and needs, selecting appropriate content, determining strategies to meet individual needs, constant progress monitoring, and maintaining qualitative and quantitative records. The key benefits are that it is student-centric and allows students to learn at their own pace and in a way that works for them, while recognizing their varying skills and preferences. However, it also poses challenges like time constraints, large class sizes, and teacher preparedness.