Even if you have group health insurance from your employer, it is good to buy a health plan that covers specific risks faced by you and your family
By Harshada Sawle
It is always advisable to evaluate your and your family’s health risks and get an adequate and comprehensive health insurance cover. It not only ensures that your financial plans are not derailed in times of a medical emergency, but also gives you much needed peace of mind.
Employee insurance (group health insurance) is usually provided by a company as an employment benefit. It is wise to also have individual health insurance since you can choose a plan that covers specific risks faced by you and your family. It is advisable to opt for an additional and adequate individual base policy.
Enhance cover with top- up
You can also enhance your employer health cover with top-up plans that are triggered only after your base policy cover is exhausted. A combination of base and a top-up plan can provide a large health insurance cover at lower premiums.
Yet another scenario to bear in mind is that in case you are faced with a critical illness, you or your family member may require prolonged treatment. In such situations you will have a lot to worry beyond just medical expenses. Being adequately insured will ensure that in case of health emergencies, you have access to high quality medical treatments that do not drain you financially. A family floater plan is also highly recommended, if you have a spouse, children, and aging parents to ensure the health of your whole family at pocket-friendly premiums.
In case of health insurance, there is no one-size-fits-all policy. Health risks and cover vary from person to person depending on age, location, gender, work conditions and family history of illness. If you are opting for a family floater plan and have aging parents, pre-existing illnesses must be declared and taken into consideration. All these factors need to be paid heed to, before deciding upon a health cover that is adequate for you and your family.
The writer is lead, Underwriting, Health & PA, SBI General Insurance