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Why is it important to have a health insurance apart from what has been provided by your employer?
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https://twitter.com/contliving/status/1347943936073994240
Thread
https://twitter.com/contliving/status/1347943936073994240
Most employers provide a coverage of Rs. 1 to 2 lakhs only. Some do provide for 5 lakhs that covers your family too.
This may not be enough at times when more than one member were to fall sick.
This may not be enough at times when more than one member were to fall sick.
Do you ever read the fine print of the insurance provided by your employer?
It may have a co-pay clause or a room rent limit. This could burn a hole in your pocket when the bill amount is high.
It may have a co-pay clause or a room rent limit. This could burn a hole in your pocket when the bill amount is high.
It may not be covering some of the diseases you may have. You have no idea.
You should read the fine print to understand the coverage better.
You should read the fine print to understand the coverage better.
The insurance provided by employer is valid only as long as you are employed.
Once unemployed, you lose all the benefits.
More importantly, if you buy after losing your job, pre-existing diseases may not be covered and there would be a waiting period for certain treatments.
Once unemployed, you lose all the benefits.
More importantly, if you buy after losing your job, pre-existing diseases may not be covered and there would be a waiting period for certain treatments.
You need to evaluate if 1 to 5 lakhs of insurance is enough for a family of 4. It’s not.
You need higher coverage through top ups / super top ups or higher sum assured.
You need higher coverage through top ups / super top ups or higher sum assured.
Terms and conditions of employer provided insurance could change at any time.
You won’t even bother about the changes until you were to utilise the benefit.
You won’t even bother about the changes until you were to utilise the benefit.
Insurance is just a benefit provided to retain employees. People tend to believe that their employer is providing them great perks.
But the employer would be minimising their own costs without caring much about you.
But the employer would be minimising their own costs without caring much about you.
The major concern that remains is the coverage stops once you’re unemployed.
You may lose your job, quit your job, or just want to take a break.
You need adequate coverage at all times.
You may lose your job, quit your job, or just want to take a break.
You need adequate coverage at all times.
