Nowadays, most companies offer their employees with healthcare benefits as a standard practice. However, is this coverage enough? What are the things you should consider?
Things to look out for in your company provided health insurance:
- What is the total sum insured available to you when hospitalised?
- Does the coverage also extend to your family? If so, which family members are eligible for coverage, and up to what sum insured?
- What happens to the insurance if you leave the company? Can you still pay for it and utilise it if you change jobs?
- Are you eligible for any continuity benefits?
Based on these answers, you will be able to assess whether you are adequately covered or not.
However, industry experts still recommend opting for a health insurance policy of your own to supplement your company provided insurance policy. The reasons are:
- Company policies, generally do not cover your parents and other members of your family
- The company policy may not be able to secure you completely against the rising cost of quality medical care
- Staying with the same insurance provider over a period of time, entitles you to certain continuity benefits, which you stand to lose should you change employers
If you are still unsure, then use our Health Insurance Guide – a tool specially designed to help you identify how much coverage you actually need, and what kind of insurance products would work best for you. Click here to try it out!
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