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Employed people are provided with all kinds of facilities by their company. Health insurance is also one of them. The limit of the insurance policy varies according to the salary and position of the employees. This insurance also covers their family members, like a life partner, children, etc. Most people feel that when the company is already providing insurance cover, then what is no need to buy an Individual Health Plan. Because of this, they consider buying separate health insurance a wasteful expense. But is it the right decision to rely only on the company's health insurance? Know about this here and then make a decision.

Why is an Individual Health Plan necessary?

Most financial advisors believe that it is never right to depend on someone else in matters of finance. It is not known when a health emergency may come in front of whom. In such a situation, a lot of money is spent. Even if you have insurance from the company, you must buy a health plan at a personal level. The reason for this is that whenever you leave the company or retire, or lose your job due to any reason, in any such situation, you are no longer a part of the health insurance cover provided by that company. In such circumstances, what will you do if a health emergency arises? In such a situation, you may have to lose your savings. Therefore, we must buy health insurance separately.

Know the other reason for taking health insurance cover. Just as all your expenses increase with age, the premium of life insurance also increases. In such a situation, you should ask yourself whether the company is providing you adequate cover according to the increasing cost of medical and will the company's cover will continue even after retirement. Most people will get the answer to this in no. To solve both these problems, you must buy a separate health insurance policy.

Tax exemption is also available.
If you buy health insurance separately, you also get the benefit of tax exemption. As per Section 80D of the Income Tax Act, you can avail tax deduction on premium paid on a policy for senior citizens of Rs 50,000 and for other members of the family of Rs 25,000 in a year.

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