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Best health coverage over and above employer provided health insurance

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08 Jul, 2022 by  Madhav Srimohan

I reside in a small town with little access to good hospitals/doctors/labs. I have bought a health insurance plan for both my (senior citizen)parents from Niva Bupa, for which I pay ~45k yearly premium. I am unmarried hence I haven't bothered about anybody else. My employer provides 5 lakh health insurance coverage for which ~10k is deducted yearly. I have no personal health insurance cover. I know this is risky at times but I am too confused between health insurance plans out there, as some provide coverage over and above the employer-provided coverage(top-up and super top-up) while some advice going for a family floater plan. Financially, too, it doesn't look a good deal to have two health insurance plans at the same time. My requirement is to protect myself from OPD visits(three to five times a year), lab tests, online consultations and serious illness at an older age, nonetheless, I need to cover my family after I get married. Kindly advise what is the best and most secure way to get such health insurance coverage.

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Madhav



A health insurance is primarily needed to protect you from the larger expenses which is in patient in nature.


There are plans, that can cover you for OPDs but those will be expensive and will be limited to few opd sessions a year OR in terms of value.


Your best bet is to pick provider and plan first over everything else that'll cover you for critical and non critical ailments.



Happy to help you deep dive and figure this out, you can book a free consult with me for the same.

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10 Jul, 2022
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Hi Madhav,


I understand your dilemma on having a additional cover. Have you ever wondered by do cars come with 5 tyres? One essentially needs just 4 tyres on day to day basis?

Think of your corporate plus personal health insurance the same way. It will be a life saver (or may be saver to your investments as well) when you need it.


Here are few questions for you to think and clear your thoughts


1) Will the corporate cover be with you forever?

2) Can your company ever shut down?

3) Can your company sack employees?

4) Are you married to the company and will not leave it ever?

5) Are you a superhero who would not fall ill or require hospitalization ever?


Remember disease/illness/accident will never send you a Block Your Date intimation. Once a major illness is contacted it is usually very difficult to get a health insurance in place.


You could kindly read this article from Beshak: https://www.beshak.org/insurance/health-insurance/articles/difference-between-personal-and-group-health-insurance/


Incase you still need further clarity just click on Schedule a Free Call button on a advisor of your choice and have a conversation.


Regards

Rohit Dhingra

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10 Jul, 2022
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Hi Madhav,


I Completely agree with the views shared by my fellow members. Appreciate that you have addressed the need of your Senior Citizen Parents because at their age giving them the best health insurance is your moral responsibility & this also ensures that your family finances are protected.

Please realize the need of selecting personal health insurance (over & above the insurance offered by your employer). The benefit of buying health insurance coverage at a young age is that you can choose the best plans available at a reasonable price. It becomes extremely difficult to get suitable insurance plans after a certain age or once we are contracted a disease/medical condition. Therefore in Health Insurance, it's always, sooner the better.

As far as confusion about which policy, OP benefits, lab tests, etc., seek the advice of a professional insurance expert & you will have no regrets.


Best Wishes,

Satish Kumar H

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