There are some prominent differences between individual health insurance policy and a group health or medical insurance. If you are covered by your company in the group insurance scheme, then you are fortunate to have the luxury. The advantages of being covered in your company’s group mediclaim are plenty as compared to buying a individual health insurance cover on your own.

In a companies group insurance scheme, most of the exclusion or conditions are relaxed and even if this is part of your CTC salary, it is cheaper that buying on your own. People with pre-existing or pr- diagnosed, or treated health problems seeking new health insurance policies are considered high-risk candidates by insurance companies, and many of them may find it difficult to buy a health insurance policy on individual basis.

On the other hand, in a group health plans, every individual is covered regardless of their pre-existing health conditions, and the high-risk individuals are factored into the total cost of the group insurance plan. A group mediclaim or health insurance plan provides coverage for a group of people and cannot single out high-risk individuals neither can they deny them health coverage.

I am covered in my company’s health insurance scheme, should I buy an individual health insurance cover also ?

Well, this question is asked most frequently buy our visitors and you will find the answer by yourself after you review the points below.

• What if the company withdraws the group health insurance scheme for cost cutting reasons?
• What will happen if you leave your present company and join another company which does not have a group health insurance scheme?
• Worst case scenario , What if you are the victim of downsizing and loose you job ?

In all the above situation, you will be left with no insurance cover. Being without a health insurance cover in todays time’s is scary. One major illness of your family member can dis-balance your finances upside-down.