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Why company-sponsored health insurance is much better than personal health insurance?

Why company-sponsored health insurance is much better than personal health insurance?

. 1 min read

Company sponsored health insurance has several advantages that you cannot get in a personal health policy

1. Pre-existing diseases are covered from day one instead of 2-4 year waiting periods
2. Many companies allow parents to be added to the policy*
3. Maternity coverage if often provided
4. Premiums are often lower by 50% or more (Compared to if an employee had to purchase a policy themselves)

When you quit your job, if you've not made any claims on your company policy, you can even port your no-claim period to reduce the waiting periods on your individual policy.

That said it's always good to have a personal health policy as well, so that you're not reliant only on your employer for your health insurance

* Being able to add parents is a big benefit since this is a higher risk segment and medical expenses can go into lakhs