Is it advisable to purchase Group Health Insurance from my Bank or to purchase Retail policies?
17 Oct, 2020
by leo pold
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.
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17 Oct, 2020
Co-founder, SureClaim
Hey Leo,
Only one advice. Never buy insurance from Bank.
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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.