When buying a health plan, you should ideally look for products that can provide maximum coverage for various ailments, apart from the regular features the plan offers.

Typically, having a single health policy can be sufficient in terms of risk coverage, but in some cases, it may not be sufficient in terms of span or the size of the health risk cover. So, instead of living with inadequate cover, it is advisable that one takes an additional health policy to enhance the health risk coverage.

So, here are some situations in which you may take more than one health policy.

If a single policy doesn’t provide cover against certain specific ailments, you may take a secondary policy.

Also Read: Health Insurance: Factors To Consider Before Buying A Health Plan

Let’s say, your existing health policy is not giving you comprehensive health risk protection. If you switch to another product, then you may lose some health cover that only your existing health plan is providing. In such a case, instead of porting, you could consider adding another health insurance plan along with your existing insurance cover.

You may decide the size of the coverage depending on how much it would cost you for the treatment of an ailment for which you are considering taking another health plan.

In some cases, it can help in reducing the premiums, too.

Usually, if you take multiple health insurance products, the premiums will shoot up. However, in some cases, if you buy a bigger policy with a deductible, and a smaller health policy with the size of deductible you choose in your bigger policy, it may cost you a lower premium.

For instance, you may take a health policy of Rs 20 lakh with a deductible of Rs 5 lakh and another policy of Rs 5 lakh. It will help you better manage your health cover if the claim size is up to Rs 5 lakh through a smaller policy, and where the claim size exceeds Rs 5 lakh, then you can use your bigger policy to get the claim.

If you have a health plan provided by your employer, it is always advisable to get a personal health policy individually. If you have to switch jobs for some reason, you will be exposed to expenses related to hospitalisation risk, and in such a situation, the health policy you purchased on your own would prove to be helpful.

Also Read: National Health Claim Exchange Starts Operation: How It Benefits Policyholders?

Things To Keep In Mind

When buying multiple health policies, you may also explore the option of getting a base health plan along with a top-up or a super top-up health policy to enhance the cover span. Depending on your requirement, you may also plan to enhance the health cover by adding a critical illness plan as an add-on or standalone cover.

The author is an Independent Financial Journalist