I am 41 years married with a son and residing in Karwar. I work for the State Government and am covered for all medical issues. A friend has told me I should avail a health insurance plan which will cover my medical expense for my family after my retirement. Is this a good idea? Kindly tell me.
It is always a good idea to have your own health insurance cover over and above the one provided by your employer as an individual health insurance policy will remain with you, regardless of your retirement. You must take adequate health cover, well before you retire. With age, the health risk increases and also to be applicable for the pre-existing disease coverage, you would need to spend at least 2-4 years of a waiting period. An early start to your own health insurance cover would ensure the completion of a waiting period by the time you retire, following which you can enjoy full benefits of the health insurance plan.
Take a look at these points:
1. You could go in for a family floater health insurance plan which would extend cover for the entire family for the sum insured level at a marginally incremental premium than an individual plan
2. You should look into various health insurance plans available on insurers websites before you decide on which policy suits you better.