Sanjib Jha | Answer |Ask -Follow
Insurance Expert - Answered on Jul 05, 2022
5. I have a corporate policy do I still need personal insurance?
Yes. Personal plan is a great alternative to corporate policies -- even if you work for large companies. Corporate policies come with limited coverage with limited or no option to customise it. In fact, your coverage can even decrease over time.
Plus, there's no lifelong renewability once you exit the group. Thus, when you actually need the plan, that is, in your post-retirement phase, you would have to opt for limited coverage available in senior citizen plans.
Also, individual health insurance plans give the flexibility to choose the right kind of protection and better coverage. You can customise your policy, such as selecting the cover according to your needs. It ensures lifelong renewability and additional coverage options, such as hospital cash benefits, pre-existing conditions coverage, etc.
Proper health insurance planning includes high coverage of personal health insurance plans with lifelong renewability over and above group plans!
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