INCOME TAX3 Oct 2026
The corporate insurance trap: Relying solely on your company’s health cover is a bad idea; here’s why | Mint
Your office health cover is useful, but it is tied to your job. Losing work, switching companies, or retiring can end it, and buying personal insurance later gets costlier with medical checks and waiting periods of two to four years. A ₹10 lakh cover may also fall short when surgery or cancer treatment costs ₹8 lakh to ₹15 lakh. Build your own family policy alongside it.
Key Statutory Highlights
- Corporate health insurance usually ends when you lose your job, take a long break, or retire.
- Buying personal insurance later can be harder and costlier, with medical checks and waiting periods of two to four years for existing illnesses.
- A ₹10 lakh cover may not be enough, since some bypass surgeries and specialised cancer treatments cost ₹8 lakh to ₹15 lakh.
Actionable Advice for Taxpayers / Founders:Consider buying your own family health policy, and remember that switching jobs can leave a gap of 30 to 90 days before the new employer's cover starts, so keep your personal cover active.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
Share: