Do I need hospitalization insurance if my company health benefits cover that already?

Hi there. The short answer will be yes, yes, yes!

Most company benefit schemes cover only a limited amount of inpatient expenses. They are often better off for covering outpatient costs instead. However in the case that your company benefits cover 100% hospitalisation costs in both restructured and private hospitals, you also need to spare a thought for the moments in your life when you switch employers, if the new employer has an equally good scheme, and in that transition period if something happens who is going to cover you. Also, after retirement if you don't have hospitalisation insurance, it might be difficult to buy one at that point because of age or health factors etc.

It is best to buy hospitalisation insurance when you are as young as possible so that the insurer covers you for life and you have a peace of mind. There might also be situations when you can claim from both company and personal insurance if one or the other doesn't reimburse fully.

You can reach me here if you like to find out more. I represent 9 different insurers.