Is it advisable to purchase Group Health Insurance from my Bank or to purchase Retail policies?
Hi , Iam Leo age 39 looking for a floater insurance policy for my family ( 2 adults and 2 kids). Already Iam having my employer's insurance coverage for Rs 9 lacs for my family. Now I am planning for an additional floater for Rs 5 to 10 lacs from my self / individual part. Kindly suggest me whether it's advisable to purchase Group Health Insurance from my Bank or to purchase Retail policies. There is a vast difference in the premium amount when compared to both ( almost 70 to 80% difference in premium). But the features like NCB & Restoration facility is not available with my Banks Group Health Insurance. My Bank is Union Bank of India and they're having Tie up with Religare.
Hey Leo,
Only one advice. Never buy insurance from Bank.
Hello Leopold,
Here's an extract from one of our articles. In our view, you should not depend on a group insurance policy to cover your lifetime healthcare expenses, even if the costs are attractive.