Should I go for health insurance now, when my company is covering me?

[msgforsunil]

Hi All,

I am currently having a health insurance from my Organisation, that I am working with. Should I additionally go for an additional health insurance of my own? Under what circumstances, should I go for an additional one? Note, currently, my company provides me a cover of 2L for my family and additional 3L for my parents, which looks fine with me. Do you see its less?

Can't I go for an health insurance only in case, if my current employer is not covering the health cover?

Note, unlike other insurance, the premium for health insurance will be reviewed periodically and generally, the insurance amount paid through company is less than the amount to be paid personally(when going seperately) and additionally all diseases are covered from day one, when we go through company unlike, unlike personal one.

I know, its little bit too much of questions. :-(

Thanks

Sunil Kumar

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[>take]

Hi All,

I am currently having a health insurance from my Organisation, that I am working with. Should I additionally go for an additional health insurance of my own? Under what circumstances, should I go for an additional one? Note, currently, my company provides me a cover of 2L for my family and additional 3L for my parents, which looks fine with me. Do you see its less?

Coverage depends upon the medical history of all the family members.
1. If you leave this company in future, you will loose all the medical cover and most importantly your parents cover. I am not sure about their age but - Will they get medical cover from the market at this age?
2. If you get new medical cover, will they cover pre - existing diseases?
3. If you work in the same organization till retirement - Will you get medical cover @ 60 years for yourself? This will be minus pre-existing diseases.

Can't I go for an health insurance only in case, if my current employer is not covering the health cover?

Note, unlike other insurance, the premium for health insurance will be reviewed periodically and generally, the insurance amount paid through company is less than the amount to be paid personally(when going seperately) and additionally all diseases are covered from day one, when we go through company unlike, unlike personal one.

I know, its little bit too much of questions. :-(

Thanks

Sunil Kumar

The premium paid is less due to group health policy.
If some disease happens in current time period (age 30-45-50 years) e.g. heart problem, It will become pre - existing diseases and won't be covered for 4 years.

[msgforsunil]

It's good insight. Thanks take(sorry don't know your name). Can you please clarify the below statement? Why should a new disease got during the policy term be categorised as pre-existing disease, since the same has come post the purchase of policy?

If some disease happens in current time period (age 30-45-50 years) e.g. heart problem, It will become pre - existing diseases and won't be covered for 4 years.

[>take]

It's good insight. Thanks take(sorry don't know your name). Can you please clarify the below statement? Why should a new disease got during the policy term be categorised as pre-existing disease, since the same has come post the purchase of policy?

What is ‘pre-existing’ disease in health insurance?
"Pre" means before. So a condition is Pre-existing if it EXISTED before the insurance. It does not necessarily mean treated or diagnosed. Pre-existing Diseases are not covered from the start of your policy. These generally are covered after 4 years of buying the policy.

[idealhealth]

Dear Sunil

It is always advisable to have an individual policy apart from your group medical coverage. One of the most important reason is the waiting periods which is there in all the health insurance policies. So the right time to buy a separate policy for yourself and your family is NOW!
Also, though you are covered with your current company but what about the shifting time to a new company? What if your new company doesn't have insurance benefits? You might want to take a lower sum insured in your separate policy and then increase it gradually.