Health Insurance: If you are going to change jobs, you can easily convert your group insurance cover into an individual health insurance plan of the same insurance company. Know what is the method.
Health Insurance After Changing Jobs: If you are planning to change jobs, or are going to join a new job somewhere, then you must be worried about your health insurance cover. In such a situation, the first question that would come in front of you is whether you will have to give up the health insurance you get from the old company or can you continue it? So we are going to answer this question of yours in this news. The funds related to this can be understood as such.
Be careful while changing jobsÂ
In today’s time, health insurance has become necessary for everyone. If you are in private or government job, then you must have got health insurance. Many companies provide health insurance cover to their employees. Medical emergency never comes by informing you in advance. People who are working, or are going to do a job, are given a health insurance policy from the company for their family and themselves. But you face problems when you change your job.
This is the rule related to insuranceÂ
According to the rules of the insurance regulator IRDA, if any employee wants, he can convert his Group Insurance Cover to Individual Health Insurance Plan of the same insurance company. On the other hand, if you do not do this, you will stop getting the benefits of the group insurance scheme on the last day of the job itself.
keep the insurance policy in forceÂ
If you are moving from one company to another, then you need to keep a few things in mind to continue with the health insurance. You need to convert group policy to individual policy in another company. For this, the existing group insurance company has to be informed that you are about to leave the company and want to convert the group insurance policy into an individual policy.
To change the insurance, the consent of the old company is necessary. After getting the consent from the company, the insurance policy is changed within a few days. You have to apply for conversion of group health insurance plan to individual health insurance plan at least 30 days prior to the last date of notice period.
Benefits of Individual Health Insurance
There are many benefits of converting a group health insurance plan to an individual health insurance plan. The waiting period for your personal health policy is decided according to the group policy. Individual members get credit for the coverage already done under the group insurance policy.
