New Delhi. Health insurance has become a big necessity in today’s world. After the Corona epidemic, people’s attitude towards better health and serious diseases has changed, so the demand for health insurance has increased rapidly. There are many types of health insurance available in the market, people can buy them according to their needs. At the same time, employed people often get a corporate health policy. However, its benefit remains only till the job in the company. But, there are many more advantages and features of corporate health insurance.
The biggest advantage, which many people may not be aware of, is that the corporate health plan can be converted into a personal policy. The advantage of this will be that even after leaving the job, the benefit of health insurance will continue. Let us know the whole process related to it.
How to Convert Corporate Health Plan to Personal Health Plan
After leaving the company, the employee can convert the health policy into a personal health insurance scheme by paying the policy convert charge. Many corporate health plans offer this option or come with this facility. Its biggest advantage is that the accumulated benefits in the policy are not lost and the insured can continue to enjoy the benefits of insurance coverage even after changing companies or retirement.
Other Benefits Available in Corporate
Plans Flex-Benefit GMC Plans: In many corporate health plans, insurance companies offer the option of customizing the policy according to the needs of the organization based on the size and business of the organization. Apart from this, there are also flex-benefit group medical cover plans which give options like covering parents or other dependents. But for this additional premium has to be paid.
Ease of Claim Settlement: Most of the insurance companies these days provide a completely digital interface for not only buying a plan but also for making claims. This has been made possible by the strong digital infrastructure created over the years. The companies also have AI-enabled WhatsApp chatbots to automate and speed up the claim settlement process
Facility of treatment other than allopathic treatment: Corporate insurance plans are now moving beyond allopathic treatment to provide comprehensive insurance benefits to the employees. Some health insurance plans also cover alternative treatment options like Homeopathy, Ayurveda, Unani etc. Certain conditions may apply here, such as network hospital, sub-limits or co-pays.
No waiting period: In most health insurance policies, most pre-existing diseases are covered only after a waiting period, which can extend up to four years. Moreover, maternity benefit is also not available in the first few years of the policy. However, most corporate plans waive this waiting period and cover all employees from day one of the policy itself.
