Should I claim company insurance, follow by personal insurance? or the other way round?

Check your company claim policies first.

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In general, claim your company insurance first then your own personal insurance. If for any reason that you have to leave your job, you have NO company insurance. And if you had used your own personal insurance first and reached the claim limits, you effectively have no insurance coverage at that point in time.

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When considering whether to claim company insurance first or personal insurance first, there are a few factors to consider. Here are some pros and cons for each approach:

Claiming Company Insurance First: Pros:

1. Immediate coverage: If you claim your company insurance first, you may receive coverage for medical expenses without any delay.
2. Lower out-of-pocket expenses: If your company insurance covers a significant portion of the expenses, you may have lower out-of-pocket costs.

Cons:

1. Limited coverage: Company insurance plans often have limits on coverage, such as maximum benefit amounts or specific exclusions. If your expenses exceed the coverage limit, you will need to rely on personal insurance.
2. Exhausting company coverage: If you claim the company insurance first and exhaust the coverage, you may not have that benefit available for future needs or emergencies.

Claiming Personal Insurance First: Pros:

1. Comprehensive coverage: Personal insurance plans with riders may offer broader coverage, including higher benefit limits and a wider range of eligible expenses.
2. Backup coverage: By utilizing personal insurance first, you keep the company insurance as a backup for any future needs or emergencies.

Cons:

1. Potential delay: Personal insurance claims may involve more paperwork and processing time, which could result in delays in reimbursement or approval.
2. Higher out-of-pocket expenses: Depending on the coverage and deductible of your personal insurance, you may have higher initial out-of-pocket costs before reimbursement.

It's important to review the coverage details of both your company insurance and personal insurance plans, including any exclusions, benefit limits, and claim procedures. Consider factors such as the coverage provided, the likelihood of reaching coverage limits, the urgency of medical treatment, and your personal financial situation.

It may be helpful to consult with a licensed insurance advisor or healthcare provider who can assess your specific circumstances and provide personalized advice based on your needs and the details of your insurance plans.

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