Depending on Corporate Health Insurance is a biggest financial mistake ?
After Globalization many company give corporate health insurance Cover to his Employee which motivate employees and fill secure against any Medical expenses. Though it is free and save personal fund but some time depending only on your corporate health insurance to cover your whole family will be The biggest financial mistake you could make.
A corporate cover is basically insurance extended by the employer & offers multiple of benefits.
1. As an employee, you don't shell out money from your own pocket for hospitalization.
2. You can even bring your family under the ambit of your policy, like your spouse and children.
3. To top that off there are no waiting periods, so you and your family members are covered from day one .
But solely depending on such insurance is fraught with danger.
1. When you leave the company or make a forced exit from a firm, you also lose that precious health cover. And that means both you and your family are left unprotected.
2. Employers don't extend the insurance benefits after retirement, at which point you're probably in your 60s, and instead of sipping a margarita in the Maldives, you're busy looking for insurance.
3. Now, many insurers do offer the facility to port to a retail policy once you exit your job. But that's often incumbent on your medicals. If you have a disease or a heart condition, insurers won't afford you this option. In fact, you may have to go without a health insurance plan.
So it might be advisable to buy separate insurance for you & your loved ones even if you have a corporate cover.
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