I have my employer covered Medical insurance through TPA services for Rs 5 Lakh. Do I still require to take a private health insurance ?
There are a few reasons why buying a health insurance plan may make sense even though you get medical insurance from your employer. Here are the points you need to think about.
Firstly, your employer's insurance coverage will only protect you as long as you are employed with the company. The policy will terminate when you quit the job or when you retire. Post retirement is perhaps the phase when one needs it the most but you won't have it then. Moreover, buying a new insurance policy after the age of 50 means that there will be no coverage for pre-existing diseases.
Lastly, health insurance policy you get from your employer may or may not cover your dependants.