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A huge yes. In India, it's common for employers to offer health insurance as part of employment benefits. As a result, many salaried individuals do not purchase a private health insurance plan since they are covered under the employer-provided plan.

This is a huge mistake. Let's explain why we recommend purchasing a private health plan (commonly known as individual health insurance) on top of the corporate health plan.

1.A Private Health Plan is Customisable 

When you choose an individual health plan, you are in complete control of what you want to include in the policy. You can opt for add-on covers like critical illness cover, include your family members in the plan, and extend the coverage offered, and more.

On the other hand, when you’re part of a group health plan, you have to choose what’s offered by your employer. There are no provisions for customisations.

2.You can enjoy Lifelong Coverage

The major drawback of a group health plan is that you stop receiving the benefits once you quit the job. This becomes a huge problem post-retirement. Post-retirement is when you absolutely need health coverage, as medical risks increase with age. Applying for a private health insurance plan at this age is highly expensive.

We recommend that you opt for a private health insurance plan, even if you have a corporate health cover. If you're self-employed, then a private health plan is an absolute must, since you don't benefit from employer-provided health cover.

Make sure to do your research. Compare the premiums, coverage, and benefits offered by individual health plans and choose the right policy that best fits you and your family's medical needs.

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