Is company insurance worth it?

Company insurance is always additional to your own personal one. Unless you are certain you will stay with the company forever, your health condition will reset (and potentially may exclude some health conditions) should you change job.
Always claim from personal insurance first so your so your insurance company has the full picture. then fill up the claims recovery form after your personal insurance company has reimbursed you, to inform them of any company insurance that you have. Your personal insurance company will liaise directly with your company’s to settle the claims amount.

Hi Kuri,

Yes, it's important to have your own personal coverage.

Your company policies are probably part of a group policy. Hence, the ownership of the policy lies with your company and not you. Should you change jobs or retire, you will lose that coverage. Also, your company can choose to change the insurer and you might end up with a different level of coverage than what you have been used to.

Hence, get your own coverage, especially for medical, critical illness and death. (How much coverage will depend on your individual situation) That way, you can have peace of mind kowing that you are covered regardless of which company you may work for in your lifetime.

When claiming, it would be better to claim on your company first, before claiming on your personal insurance when it comes to medical. This way, your personal insurer won't have excessive claims which may cause an increase in premiums later on. For other types of coverage, you are allowed to claim on both company and personal.