You need health cover regardless of what you take two at a time - pills or stairs.
  • Why you should Convert Employer Health Insurance into Individual Policy?

     4.5 / 5.0   by 360 users
    Used this product? Write a review >>

    Cashless Treatment

    Customer Service

    Medical Coverage

    Claim Experience

    Responsiveness

    Group health insurance policies and individual health insurance policies are drastically different from each other. These differences are not the simplest to comprehend and as a result, many people confuse between individual and group health insurance policies. A comparison between these two kinds of policies can be rather useful to help one understand the differences between the two, and therefore, allowing them to make a truly informed decision about choosing a health insurance policy that best addresses their needs.

    Group and individual health insurance policies are rather similar in terms of the coverage they provide. However, there are stark differences between the two kinds of policies, especially when it comes to the details. Before we begin to count the benefits of converting to an individual health insurance policy from a group health insurance policy, it is important to know what each policy means.

    What is Group Health Insurance and Individual Policy?

    A Group Insurance policy is basically an insurance policy package which is taken by an organization or an employer for its employees. Organization have the choice of either opting for a pre-planned insurance policy provided by an insurance company or they may formulate a self-insured plan themselves.

    An Individual Insurance policy, as the name suggests, is an insurance package which is taken by an individual themselves or for a close group of people like their family. However, contrary to what the name indicates, an individual insurance doesn’t cover only a single person.

    Benefits of Converting to an Individual Plan:

    Waiting Period – Group health insurance policies do not offer a waiting period for all diseases. However, individual health insurance policies do offer differing terms of waiting period for different categories of diseases. Under individual health insurance, waiting period of 30 days is provided for coverage of common disease, 24 months for specific diseases and a waiting period of 48 months is provided for coverage of pre-existing diseases. Do keep in mind that the waiting period offered for specific diseases will differ with each insurance provider.

    Waiver of Waiting Period – Upon conversion from a group health insurance policy to an individual health insurance policy, you stand to benefit from the waiver of waiting period. This is done due to the reason that the waiting period for diseases is far less under a group insurance policy. Sometimes, there may be no waiting period altogether. For this reason, when you convert from a group insurance policy to an individual insurance policy, the coverage will begin from the very day on which you have made the conversion to an individual policy.

    Things to Remember While Converting:

    Some important points to keep in mind while converting from a group health insurance policy to an individual policy are as follows:

    1. Conversion must be done to the same company – Do remember that when you are converting from a group insurance policy to an individual policy, the conversion must be done within the same insurance company. In other words, you must convert to an individual insurance policy with the same company with which you held a group insurance policy. It is not feasible to shift to another company to convert to an individual policy. However, the conversion from a group to an individual insurance policy will be done at the discretion of your company.
    2. Conversion should be done no later than 45 days – In order to convert to an individual policy, the conversion must be done in no more than 45 days before the policy is lapsed. Conversion taking any longer than 45 days will not be possible.
    3. Medical test may be required – In some cases, it is possible that the insurance company may ask for a medical test report to check the person’s medical history before converting the policy. Once the medical report has been provided and evaluated, the company may begin the process of converting the policy.

    GST rate of 18% applicable for all financial services effective July 1, 2017.

    Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

    Converting Group Health Insurance to Individual Plan Reviews

  • Page 1 of 18 1 2 3 4 5
    • National Insurance Health Insurance
      "Very easy to get a claim"
      0.5 4.0/5 "Great!"
      My employer has provided me a health insurance with National Insurance. They have given the health insurance policy for my family also. I have got the coverage amount of Rs. 29 lakhs and the chained hospitals list was good. In ten days, i have got my claim settlement. They are providing a cashless treatment facility.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 12, 2018
    • review Health Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      My health is insured with Aditya birla from last 1 year, a premium of Rs 8600 has to be paid for this insurance policy. I have not claimed anything so far with this insurance policy. The coverage value is Rs 6 lacs which includes individual and spouse.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 02, 2018
    • Tata AIG Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a health insurance policy with the TATA AIG. The policy is for myself and I've employer provided health insurance for my family. , I am paying a premium of 4000 monthly, the annual coverage of the policy is 5 lacs and I do not have any claim experience with the policy so far.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 26, 2018
    • New India Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My health insurance is with New India Assurance from last 1 year, i am not aware of the premium amount as my company pays it. I have no claim experience so far with this insurance policy and the coverage value is Rs 2 lacs for individual.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 14, 2018
    • Star Health Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My health is insured with STAR health from last 1year and it is a good policy to use. It is a family policy where the coverage value is Rs 3 lacs per individual. I do not have claim experience with this insurance and i pay a premium of Rs 15000 for this insurance.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Sep 12, 2018
    • National Insurance Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I hold an Individual health insurance policy with National insurance from last 4 years, i have not claimed anything so far from this insurance policy. I pay a premium of Rs 3000 for this insurance policy and the coverage value is Rs 1.5 lacs for this insurance.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 12, 2018
    • ICICI Lombard Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have an Individual health insurance policy with ICICI Lombard from last 4 years, i pay a premium of Rs 6500 for this insurance policy. I have not claimed anything so far from this insurance policy. The coverage value for this policy is 7 lacs.
      Was this review helpful? 1
      , faridabad
      Reviewed on Sep 06, 2018
    • Apollo Munich Health Insurance
      "Average Policy"
      0.5 3.5/5 "Pretty good"
      I have a health insurance policy with Apollo Munich from last 1 year, i am happy with the coverage value of this insurance policy. A premium of Rs 7000 has to be paid for this insurance policy and it covers only individual. The coverage value for this insurance is Rs 2 lacs.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 05, 2018
    • HDFC Ergo Health Insurance
      "Good Service"
      0.5 4.5/5 "Excellent!"
      I've a health insurance policy with the HDFC Ergo. It is a Group policy, it offers a total coverage of 4 lacs, I've claimed this policy the whole claim process was hassle free. I got the full amount claimed with out no questions asked.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 24, 2018
    • ICICI Lombard Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My health is insured with ICICI Lombard from last 121 years and it is one of the good policy to use. I pay a premium of Rs 5800 for this insurance policy and it covers only individual. My claim experience was good, they covered 90% and it was cashless treatment. The coverage valye is up to Rs 4-5 lacs.
      Was this review helpful? 1
      , mumbai
      Reviewed on Aug 21, 2018
    • United India Health Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I hold a health insurance policy with United India Insurance from last 1 year, I pay a premium of Rs 200 on yearly basis. I have not claimed anything so far from this insurance policy. The policy covers up to Rs 2 lakhs and it is individual policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 17, 2018
    • review Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a health insurance policy with the Aditya Birla health Insurance Co. I am paying a premium of 4000, this policy is only for me as I have employer provided group medi-claim for the entire family. I do have a claim experience with the policy where I availed a cashless hospitalization benefits of 2 lacs.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 13, 2018
    • Star Health Health Insurance
      "Worst Company Ever Star Health"
      0.5 0.5/5 "Unacceptable"
      After 5 years of continous coverage and premium , my wife was recently has to go Endoscopy operation . To my surpise the STAR co. refused to pay claim and till date i am trying to check each centre and putting up mails to process my claim. The Group is HELL and i don't recommend anyone . No Customer Support update and the backsupport team are the Worst.
      Was this review helpful? 7
      , ghaziabad
      Reviewed on Aug 11, 2018
    • Max Bupa Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my health insured with MAX BUPA from last 1 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. It is an individual policy with good coverage value. I pay a premium of Rs 6000 for this insurance policy.
      Was this review helpful? 1
      , kolkata
      Reviewed on Aug 07, 2018
    • New India Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've two health insurance policies with the New India Assurance. Being an employee I got it under a concessional rare. I find it god. It also offers cashless facilities and the list of hospital are also good. So far there hasn't been any issues with their services.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 28, 2018
    • Reliance General Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've an employer provided health insurance policy in partnership with the Reliance general Insurance. I do not have any experience with the policy so far. So far there hasn't been any issues with the policy so far.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 26, 2018
    • United India Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the employer provided health insurance policy from the United India Insurance. I claimed this policy for my father , the company is paying the premium. By default it offers an annual coverage of 4 lacs. For an add on coverage of 10 lacs I'm paying a premium of 800 per month., They process the claim immediately, I got the whole amount 6 lacs.. It was a great experience
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 21, 2018
    • ICICI Lombard Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've an employer provided health insurance policy with the ICICI Lombard. The company is paying the premium. It offers of a coverage of 2 lacs for me annually. I do not have any claim experience with the policy. So far there hasn't been any issues with the policy. I'll have to wait and see how they respond to my claims in future if I'll have any.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 17, 2018
    • New India Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a health insurance policy which is provided by the employer in partnership with the New India Insurance . The company is paying the premium, so far there hasn't been any claim experience with the policy. It offers 10 lacs hospitalization coverage and a whopping 1 Crore accidental benefits. Considering the features and benefits it is recommendable health insurance policy to have.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 16, 2018
    • Bajaj Allianz Health Insurance
      "Useful Service"
      0.5 4.0/5 "Great!"
      I've an employer provided insurance policy with the Bajaj Allainz. The company is paying the premium, I do have a claim experience with the policy where I claimed 100% amount needed for the treatment. It was a cashless treatment and the whole process was smooth and hassle free.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 16, 2018
    Common Loader Icon
    Page 1 of 18 1 2 3 4 5

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.