Why Individual Health Insurance Policy Is Better Than Corporate Health Insurance? | 7070


Why Individual Health Insurance Policy Is Better Than Corporate Health Insurance?

People today are getting accustomed to the idea of health insurance and how health insurance is important in today’s world. The market these days has a lot of health insurance products, and that confuses people. People usually get the option of health insurance with their job, and many times they think that it is ideal and sufficient. For many people who still don’t know the demarcation, there are two types of health insurance policies- Individual Health Policies and Corporate Health Insurance policies.

What are Individual Health Insurance Policies?

Individual Health Insurance policies ensure a single individual or a family at max. These are also termed as personal health insurance. They cater to individual health needs, or the needs of a family on a personal level as these can be customized as well.

What are Corporate Health Policies?

Corporate Health Policies are the ones that are given to you at your workplace. These are the group insurance policies, and they provide uniform coverage for all the people who have been insured under the policy.

Benefits of Individual Health Insurance Over Corporate Health Insurance

Convenience to Customise: Individual Health Insurance can be customized according to your needs, and it provides a personal and dedicated cover that you require and opt for. These policies provide coverage for some specific conditions that you want yourself to have coverage for.

  • No Claim Bonus: The Individual Health Insurance plans offer No Claim Bonus. This is one of the most lucrative benefits of health insurance. If a policyholder has had no claims in a particular year then he/she receives a No Claim Bonus amount which is added to the coverage amount for the next year.
  • Post Retirement Scenario: The Health Coverage that is provided by the corporate companies usually lasts till you are employed but if you have an individual health policy then the coverage continues till the point you keep renewing the policy. This is a very important aspect because post-retirement age is when health insurance would be needed more.
  • Coverage Amount is Decided by the Insured: The premium for the health insurance is paid by the policyholder and thus the coverage amount is totally in his/her hands. The coverage amount is determined by the requirement that the policyholder has or by his/her investment wallet at a given point in time.


There is no doubt that corporate health insurance is an added benefit to have and a very useful bonus that the company provides to lure good talent towards them. Still, these are not the policies upon which a person should depend upon. It is highly recommended that you take an individual health policy as well.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.



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