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Corporate(portable)Health Insurance or Personal Insurance

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20 Nov, 2022 by  Shantanu

Hello Sir,


I was looking for health insurance for my parents.But the one related to my father is a bit confusing.

He has below conditions -(from last 15-20 yrs)

Hypertension

Diabetes (High sugar)

Lung infection (minor)

Had 3-4 hand surgery (accidental)

and 1 Minor heart attack (15 yrs ago)


Now the premium for 5 lacs SI for above conditions is high (between 40 -50k ,Father's age - 63).To add to it the waiting period of 3-4 yrs(that can be reduced with a buyback policy which again costs).I have taken a Corporate policy which covers PED and costs less 25k for a 10Lakh policy and 14k for a 5 lakh policy (No NCB,5% copay, No waiting period,Disease sublimits applicable etc)


Now the catch here is that even if I leave the organisation, they provide the option for converting a corporate policy to personal . The premium will increase once I convert it to personal.(don't know but I expect it will increase 1.5 times)


So please suggest what is best option in this case....

Buying a personal one or converting corp to personal .

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Parents-Health-Insurance

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23 Nov, 2022
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Hi Shantanu,


It's always suggested you have a personal cover and not depend on your corporate policy, if premium is not a constraint

From whatever I could gather from your post, I'll suggest you continue with a 10L cover corporate policy, once you switch, try to cover him in the next job/convert to the personal cover, atleast 1 month before the renewal date of your policy, as it'll be tricky to get him an individual cover now with the PEDs

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