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Is your Company’s Group Health Insurance enough?

Is your Company’s Group Health Insurance enough?

If your employer offers you Health Insurance, chances are you might not want to buy a second policy for yourself. But does it make sense to still get one?

Yes.

Here’s why:

Coverage Amount: If your company is offering the policy, they have the power to reduce the cover at any time. Moreover, the cover offered might not be enough for your needs.

Coverage Duration: If your company terminates the policy, or if you leave the organisation, you will no longer be covered. At that juncture, it might be difficult to get a new Health Insurance plan in case you are:

  • Retired: You'll have to deal with sky-high premiums and a host of exclusions
  • Already undergoing treatment: If you have a Pre-Existing Disease for which you've been making claims under your group policy, your new insurer will most definitely not cover you for it.

So it's always better to have a personal Health Insurance plan as well.

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