Health Insurance top up when retired
27 Apr, 2021 by Rohit Singh
Hi Team, I am 35 and have decent health insurance given by my employer. I have been contemplating to buy Health insurance and would like to understand if i can buy a basic Arogya Sanjeevni insurance/any other insurance and then top it up for higher sum assured few years later when I retire or perhaps as i age 50 years?
Insurance is a very funny product , you buy when you don't need it because when you need it you may not get it .
So plan it now , don't wait till 50 .
Group insurance is like rented property , would you employer keep you if you fall sick for long time or critically. No private employer is so benevolent .
You supplement your group insurance with 5 lakh base plus super top of 20 lakh . That is good enough and would cost you approx rs 20000 and after taking tax benefit of section 80 D , you are paying only 14000 .
So plan and execute .