Do not rely only on health insurance from the company, know why it is important to have your own policy and what are its benefits

For the benefit of employees, companies add facilities to health insurance according to the need. But don’t rely only on employer’s cover

Most of the employers provide health insurance cover to their employees. The amount of cover varies according to the salary and rank of the employees. It is also true that the health insurance cover provided by the employer is tailor made. This means that the company adds facilities to the health insurance according to its need so that the employees can get the proper benefit from it. Now the question arises that why should not rely only on the health insurance cover of the employer?

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Why it is important to have your own policy in addition to the cover provided by the employer

1. With leaving the job, the health insurance cover provided by the employer ends.
   Before getting another job, if God forbids you, you will have to bear the cost of hospitalization yourself.
2. The second important thing is that with increasing age, be it health insurance or life insurance, their premium keeps increasing.
3. Let us assume that you are planning to retire from the company you are working in.
   You would argue that in such a situation, why waste money on premium from Extra Health Insurance from outside, the company is providing this facility.
4. You are right. But consider a few things. Is your company providing you enough cover to meet the increasing cost of medical?
5. Will the company cover continue even after retirement? The answer to both of these questions is more likely to be no.
6. Therefore, you must have a separate health insurance policy with adequate cover for your entire family.
7. There is another advantage of taking health insurance separately. Under Section 80D of the Income Tax Act, you also get the benefit of deduction up to Rs 25,000 on the premium of health insurance

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How much we should be the cover of Health Insurance

1. The health insurance cover should be commensurate with the cost of the best hospitals in your city.
2. Most of the people in our country are suffering from lifestyle related diseases like blood pressure, diabetes, anxiety etc.
3. These diseases give rise to many serious diseases, the treatment of which can cost many lakhs of rupees.
4. In such a situation, you should decide the amount of cover keeping in mind the hospital expenses of your city.
5. Generally an average cover of Rs 5 lakh is reasonable. If needed, you can increase this cover through top-up cover at very low cost.
6. We will tell you in detail about the top-up cover in the next article.

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Where to get Health Insurance

1. This is also a confusing question for a common man.
2. Life insurance, general insurance and health insurance companies are providing all three health insurance covers.
3. Health covers of life insurance companies are coming for the last 5-7 years. This is not a complete cover.
4. So, don’t even think about them in the beginning.
5. You can take cover according to your need from general and health insurance companies.
6. There is a plethora of health insurance products, so don’t just look at low premiums.
7. Also consider things like hospital network, waiting period for pre-existing diseases, exclusions, etc.
8. In the next article, we will also tell you the pros and cons of health insurance policies of life insurance and general insurance companies.

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