I am 39 years, single and residing in Mysuru. I am insured under the corporate cover of my company. I do not have any pre-existing diseases. I plan to retire at 50. Can I retain my corporate cover of INR 3 Lakhs even after retirement? Should I opt for a super top up health insurance plan as I already enjoy corporate cover?
You can continue with your corporate cover, but remember to convert the corporate coverage to an independent individual health cover with the same insurer when you exit/retire from the company. Involve your HR department in converting your policy to enjoy all benefits, which were available in the corporate cover. With steadily rising hospital and medical costs, you must take two additional covers: 1. A top-up cover helps only when your claim amount is above the threshold. A super top-up health insurance plan provides cover over the threshold limit in multiple cases of hospitalization. If you think you can take care of health care costs up to a certain limit, but will need help if the costs go beyond a threshold limit then you should go for a super top-up plan. 3. Take an independent critical illnesses cover that offers protection against dreaded illnesses, such as cancer, stroke or kidney disease. You will get a lump-sum benefit equal to sum insured if you are diagnosed with such diseases; treatment of which is normally for a long term and very costly.