3 Reasons Why You Should Get Health Insurance Despite Having a Corporate Cover
Get health insurance even if you have an employer-funded group health insurance cover.
Among other things COVID-19 has done, it has exposed us to our follies of managing our finances and planning for emergencies. Not having adequate health insurance is one smart move that most of us probably did not consider properly before.
And no, having an employer-funded group health insurance cover is not enough. Here’s why:
Reason #1: It only lasts as long as you are employed with that company. You lose all the benefits when you quit or are laid off which is becoming more common as recovery seems remote considering the exponential growth in cases in the country.
Reason #2: The sum insured is lower in corporate cover. In most cases, the corporate insurance cover is anywhere from Rs. 3 lakh to Rs. 5 lakh and comes with restricted room rent, limited ailments coverage, etc.
Reason #3: It may not cover your parents or other dependent family members. This means that if they need medical assistance, you will have to pay the expenses from your own pocket.
A separate health insurance policy is a better choice because it is renewable for life, you can choose a suitable insurance cover as per your budget, and you can choose a family cover and other add-ons for your loved ones too.
That is why a corporate cover is probably not enough. Agree or disagree?