There are two questions in it -
1- Why we need to buy health insurance?

As per World Bank Report - Some relevant studies reveal -
  • 85 % of the working population in India DO NOT have Rs. 5,00,000 as instant cash.
  • 14 % have Rs. 5,00,000 instantly BUT will subsequently will face a financial crunch
  • Only 1% can afford to spend Rs. 5,00,000 instantly and easily.
  • 99 % of Indians will face financial crunch in case of any critical illness. Hence the need for Health Insurance.


2- I am already covered by group heallth insurance by my employer?
A person who is covered by his employer or is governed under some corporate rules for payment/reimbursement of Hospitalization costs need not go in for Health Insurance.
But there is one catch here till age 60 (Retirement age), It is easy to get health insurance but if you are old and have some preexisting disease than it would not be easy to get Health Insurance at normal rate. All those diseases are not covered in the policy.

2nd - Group Health Insurance policy sum Insured is generally fixed to 2-3 lacs. Now see what is the current costs in a good/ reputed hospital for treatment of

  • Angioplasty Rs. 2,00,000 to Rs. 3,00,000
  • Open heart surgery Rs. 2,50,000 to Rs. 4,50,000
  • Liver Transplant Rs. 30,00,000
  • Kidney Transplant Rs. 18,00,000 to Rs. 30,00,000
  • Hernia surgery Rs. 30,000 to Rs. 60,000


Hope its clear now. Its your call to take