OPEN APP
Home / Money / Personal Finance /  Employer’s policy is not adequate for health cover

The IT company I work for provides health insurance. Should I additionally go for personal health insurance? If yes, which health insurance plan should I go for? I am 26, unmarried and have no pre-existing disease.

—Arun Brahma

I recommend you buy an individual health insurance plan irrespective of employer-sponsored coverage. Most employer-sponsored coverage can be inadequate in case of major surgery or critical illness. You should have coverage equal to your annual income with a minimum of 10 lakh. It helps to buy a personal health insurance plan early, as you start accumulating a no-claim bonus, which enhances your sum assured free of cost. Prefer a plan with a high no-claim bonus. You could also consider a super top-up health insurance, which are substantially cheaper than regular health plans. Some plans give you the option to convert the top-up plan into a regular plan at a later date. You can exercise that option in the future.

Abhishek Bondia is principal officer and managing director, SecureNow.in.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout