Five reasons to have a personal health Insurance policy even if your employer provides you with corporate cover.

2 min readJan 21, 2022

Do you have corporate health insurance cover from your employer?

You should consider taking a separate health cover for the following reasons:

  1. Job Switch: You lose insurance coverage if you decide to switch your job or lose it for any reason. The health insurance available with your new employer may be insufficient or may not be available at all. The situation is even worse if you lose your job. Until you find a new job, you will be uninsured.
  2. Low Coverage: Corporate health plans typically provide limited coverage, which is often insufficient given the ever-increasing cost of medical care.
  3. Limitations: Corporate health plans have a variety of restrictions, such as room rent limits or co-pay requirements. It is critical to have a health policy that does not impose these restrictions.
  4. The room rent sub-limit has a proportionate effect on the limits of all other medical procedures, significantly reducing effective coverage.
  5. The co-pay clause requires you to bear a portion of the hospitalisation costs. For example, a 10% co-pay means that the insurer will only pay 90% of all eligible medical costs, with the remainder being your responsibility. It is preferable to have a policy that does not include a co-pay clause.
  6. Delays may result in the inability to obtain personal health insurance: It becomes increasingly difficult to obtain health insurance as you get older. If you decide to purchase health insurance at the time of your retirement, you may be unable to do so due to your advanced age and pre-existing health conditions.
  7. Additional Benefits: Individual health policies typically provide additional benefits such as free health check-ups, no-claim bonuses, sum restore benefits, and so on that are not available with corporate policies.

Do not disregard the importance of having a personal health insurance policy for yourself and your family.

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