In as much as one may have health cover, it is advisable to have other forms of Health Insurance. In India, a large number of employees are availing of group Health Insurance policies offered by their employers.
While this is a great benefit, it often comes with limitations—limited sum insured, no coverage after retirement or job change, and less customisation. That’s where combining it with individual Health Insurance makes all the difference.
Why Relying Only on Group Health Insurance Can Be Risky
Yes, group Health Insurance plans are not very expensive and offer fairly good coverage to the employees. But what happens if you switch jobs or retire? You may wake up one day to find that you are not insured and that getting a new policy at a later age is very expensive or even out of the question if you have a medical condition.
This policy is not yours; it is your employer’s policy. That is an opportunity that you cannot afford to miss in the marketplace.
The Power of Dual Protection
Group Health Insurance Policy and an individual Health Insurance policy are two different things that can be used together to offer the best. It expands your coverage, especially when one policy’s sum insured may not suffice to meet all the requirements. You will have more freedom in choosing your health care plan with a personal policy but still be able to use your employer’s plan.
Benefits You Can’t Ignore
Now let us look at the actual advantages of the integration of the two policies:
- Extra coverage when one policy is exhausted during hospitalisation.
- Flexibility and flexibility are important, especially when transitioning from one employment to another.
- The tax deductions under section 80D in relation to the premium paid for individual Health Insurance.
- The opportunity to choose more options, add additional insurance, and modify the basic insurance in the personal policy.
- Better financial planning for medical needs beyond what your employer offers.
Best Health Insurance for Employees Isn’t Just from Employers
Many people think that the best Health Insurance for employees is the one that is offered by their employer. However, smart employees are now including their personal policies in their work coverage.
Why? This is because most of the group Health Insurance policies do not include family members beyond the spouse and children and do not offer critical illness coverage or preventive health check-up in detail. Your individual Health Insurance can easily fill those gaps.
The best way to do this is to compare the various individual Health Insurance policies.
When one is looking for a personal policy, then it is important to do an individual Health Insurance comparison. Do not just compare the premium rates but also look at the room rent capping, number of network hospitals, claim settlement ratio, and other features like maternity expenses or out-patient expenses. A good policy should not only offer you financial assistance but also make the process of filing a claim as smooth as possible.
In Summary
Your employer may offer the best Health Insurance for employees but it is your own policy that will stand you in good stead in any transformation that you will go through in life. Group Health Insurance and individual Health Insurance together constitute a powerful and a future ready shield – a shield that not only protects you but also sets you free and makes you fearless.
Choose wisely. Cover completely. Live worry-free.
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