Why Getting Your Own Health Insurance Policy Is Important

4 Mins read


In the intricate web of life, good health is the most invaluable strand. The significance of safeguarding this asset cannot be overstated, making a robust health insurance plan, especially in India’s ever-evolving healthcare landscape, an essential component of our financial planning and healthcare management. This article delves into the pivotal importance of maintaining personal health insurance in India, highlighting why it remains significant, even when one is covered under a group health insurance policy.

The Imperative of Personal Health Insurance in India

India’s healthcare sector has made remarkable strides, yet it grapples with increasing healthcare costs and a changing disease landscape. Against this backdrop, personal health insurance policy in India becomes an imperative. Let’s explore compelling reasons why personal health insurance is not just a choice but a necessity.

1. Customized Coverage:

Personal health insurance offers the level of customization needed to address individual health needs. It’s akin to a tailored suit, designed to provide a perfect fit. This personalization ensures protection against the medical uncertainties that matter most to you.

2. Continuity of Coverage:

Group health insurance policies, typically provided by employers, may not guarantee continuous coverage during job transitions, retirement, or other life changes. Personal health insurance ensures uninterrupted access to healthcare coverage, regardless of your employment status.

3. Inclusion of Family:

With personal health insurance, you can include your family members under its coverage. This ensures comprehensive and wide financial protection for your loved ones. It acts as the guardian of your family’s health and financial well-being. It also provides peace of mind and financial security.

4. Freedom of Choice:

One of the important benefits of having a personal health insurance is that you can choose the coverage, features and the insurance providers from a wide array of options available. You can choose the one that best plan that fits your needs and requirements. This ensures that your health insurance acts as a complete safeguard to you and your family.

5. Long-Term Viability:

Personal health insurance plans are designed to provide sustainable coverage over the long term, adapting to changing healthcare needs as you age. They offer a constant shield against unexpected health challenges.

6. Portability:

Personal health insurance offers the advantage of policy portability, allowing you to switch to a different insurer while retaining the benefits accrued in your existing policy. This affords you the flexibility to adapt as your needs evolve.

7. Comprehensive Coverage:

In a diverse country like India, personal health insurance can offer comprehensive coverage, including protection against critical illnesses, maternity benefits, wellness programs, and more. It ensures holistic protection against the myriad healthcare scenarios that can arise.

8. No Impact on Group Coverage:

Owning personal health insurance does not affect your eligibility for group coverage. It serves as an additional layer of financial protection that complements your group policy, enhancing your overall health insurance portfolio.

9. Tax Benefits:

Premiums paid for personal health insurance policies are eligible for tax deductions under Section 80D of the Income Tax Act, 1961. This not only safeguards your health but also provides financial relief.

10. Peace of Mind:

Perhaps the most crucial benefit is the peace of mind it offers. Personal health insurance ensures that you are in control of your health, irrespective of external factors. It provides the assurance that your health and financial well-being are secured.

Part 2: Significance of Personal Coverage with Group Health Insurance

Acquiring personal health insurance doesn’t diminish the significance of group health insurance, especially if you are covered under your employer’s policy. Here’s why having both types of coverage is a wise decision.

1. Enhanced Protection:

Personal health insurance fortifies the protection provided by the group policy, acting as a safety net to ensure you are well-covered against unexpected medical expenses.

2. Continuity of Coverage:

Group health insurance may not provide continuous coverage during job changes, retirement, or other life transitions. Personal health insurance guarantees uninterrupted access to healthcare coverage.

3. Tailored to Individual Needs:

Personal health insurance permits you to customize your coverage according to your specific health requirements, complementing the broader, generalized group coverage.

4. Coverage for Family:

Personal health insurance allows you to include family members, ensuring your loved ones are well-protected. It covers your family’s healthcare needs alongside your own.

5. Portability:

Having personal coverage means you can switch to a different insurer or policy without losing the benefits accrued in your group health insurance policy.

6. Freedom of Choice:

Personal health insurance offers the flexibility to choose the insurance provider and policy that best align with your needs. It’s a choice that reflects your preferences, not your employer’s.

7. Comprehensive Protection:

In addition to group coverage, personal health insurance provides comprehensive protection against healthcare emergencies, including critical illnesses, maternity benefits, and wellness programs.

8. Financial Security:

Personal health insurance ensures financial security beyond the workplace, guaranteeing that you are adequately protected, irrespective of external circumstances.

9. Tax Benefits:

Possessing personal health insurance alongside group coverage can lead to increased tax deductions under Section 80D of the Income Tax Act, reducing your tax liability while safeguarding your health.

10. Peace of Mind:

Combining personal health insurance with group coverage guarantees peace of mind. It means you have a robust health insurance portfolio designed to safeguard your well-being from all angles.


Good health is the foundation of a fulfilling life. In India’s complex healthcare landscape, personal health insurance emerges as a shield of protection, offering customized coverage, continuity, and peace of mind. Simultaneously, personal health insurance complements group coverage provided by employers, enhancing protection, offering flexibility, and ensuring you are in control of your health, even when your employment situation changes.

In a world where health is paramount, having personal health insurance alongside group coverage is a pragmatic decision, empowering individuals to navigate life’s uncertainties with confidence, knowing that their health and financial well-being are safeguarded.

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