SWADL - Blogs 08/06/23, 2:29 PM

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Is It Enough To Have
Just A Corporate
Policy In The Long
Run?
Did you just start with your healthy diet? Walked
a few more steps today? Did you count your
calories? Yes, you can pat your back for all that
you do for your health. 

Do you also have health insurance? 

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SWADL - Blogs 08/06/23, 2:29 PM

Your company got you covered? Great! 

But do you know if having one is enough or not?
Hmm..let's get you thinking about this.

The corporate health policy that your employer

has given you is surely a great thing that they
did! 
But, I am going to give you at least 3 reasons
why you must not rely solely on your corporate
policy.

Yes I know, you must be thinking that your

corporate policy has benefits like zero waiting
period, cost effective premiums, pre-existing
disease coverage, but there are some
limitations that will make you think about the
unwanted situations that can occur. 

I am talking about the most important fact that

clicks your mind first when thinking about the
health insurance policy,“the sum insured
balance” in other words, the policy coverage.
Generally, the corporate has a limited coverage
of 2-5 lakhs only. However, if you look at the
inflated medical expenses today, you will realize
that this amount might not be sufficient in
certain ailments. 

So what’s your plan for that situation?

All the additional bill amount will go from your

pocket. Trust me, you don’t want this.

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Even if your treatments get covered under the

provided coverage amount, copay might be
applicable in your policy. This means that some
fixed percentage of the total claimed amount,
you’ll have to pay out of your pocket. And it
could go up to 40%. (Damn, it’s almost half of
it!)

There are limitations for the hospital room as

well. Room rent capping restricts you to choose
the room up to which the capping is applicable.
If you choose above it, your bill amount
compounds.

Let me also draw your attention to the fact that

your corporate policy is valid only for the period
in which your employment is valid. As soon as
your employment with your organization ends,
your policy gets terminated as soon as you
leave.

This means now you’re basically without any

policy and coverage until your next employment
starts. Imagine, if something was to happen in
this gap period. Dreadful, isn’t it? (God forbid,
but life is for sure uncertain)

I already gave you three critical reasons to

consider having an additional health policy. No, I
am not trying to sell you a policy, we don’t sell
policy at all. I am trying to bring to your notice
the facts that you might not have considered
yet. Of course, the decision is yours. 

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Tell me one thing, what if one of your loved one

is in need of the policy. But, but, but they aren’t
covered in the corporate policy you have. You
don’t have an individual one, you’ll now be
ending up paying everything from your pocket
(whether you borrow it or drain your savings). If
your corporate policy doesn’t cover your
dependents, you must think of the
consequences.

I told you it's your decision, I am leaving it to

you. 
All the above points are just all the more
reasons to tell you that your corporate health
policy might not be enough for you and it’s not
something you can rely on completely.

So, do your research and think it through, and if

you already don’t have one - an individual
health insurance can help you and your family
to secure them from any unforeseen, unwanted
events.

If you are considering buying an

individual/family plan, then do read our blog on
important points to consider before buying a
health insurance policy to ensure best coverage
and less out of pocket expenses at the time of
hospitalization.

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