Should You Have Individual Insurance If Your Company Is Already Offering You Group Insurance?

Confused between group and individual health insurance? Discover why having both ensures better coverage, flexibility, and long-term protection.

Quick Summary

Know the benefits and pitfalls of each insurance policy coverage to decide on which type of insurance works for you.

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Frequently Asked Questions

Is group insurance better than individual insurance?

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Both has its own benefits. Group insurance is generally paid by the employer and indiviadual insurance is paid by you. Hence, being in a company that offers group insurance is better. However, you individual insurance is in your control and group is not. With individual insurance, you can choose what you want.

What is the difference between GMC and individual health insurance?

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The organization purchases GMC or Group Medical Cover for the employees. The premiums are cheaper due to group coverage. The employees can include their spouse, children and parents/parents-in-law based on the policy type. Individual health insurance covers only the policyholder and has higher premiums than GMC. GMC policy covers pre-existing disease and maternity costs without the addition of a rider.

How are the exclusions in group policies different from individual policies?

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Group health insurance often has fewer exclusions compared to individual plans. For example, most group policies have zero waiting periods for pre-existing diseases and may cover maternity benefits, while individual plans usually have longer waiting periods and stricter exclusions.

If someone has individual health insurance cover, can he/she also be included in group health insurance?

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Yes, even if your employees have an individual insurance policy, they can still be eligible for group health insurance provided by their employer.

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