Group Health Insurance policy option is available for Companies to provide the Health Insurance policy for the Employees who work under the same Organization.
Most often this policy is offered as a benefit to the Employees by the Employer. The policy can be extended to Employees, Spouse, Dependent Child & Dependent Parents / In-laws too.
The premiums will be comparatively lesser when compared with Retail / Individual Health Insurance plans available in the Market with better policy benefits to the policyholder.
Who can Buy a Group Health Insurance?
The Group Health Insurance policies can be taken by Startup / SME’S / Corporates who have a minimum of 7 Employees in the Organization.
Why should I take a Group Health Insurance Policy?
The Group Health Insurance policy comes with a lot of benefits the policy which is not available in the open market for Individuals.
Some of the Key Features are as below.
> No Medical checkups and Good Health Declaration is required from the Employees
> Age limit for Parents can be sought up to 90 years as well
> Maternity can be covered from Day one in the policy
> Newborn baby covers from day one in the policy
> Pre-existing diseases can be covered from Day One
> No waiting periods in the policy
As the Group Health Insurance Policies are Tailor-made policies, we can customize the policy depending on the needs of the Employer.
How to Buy The Best Group Health Insurance Policy?
It is always recommended to check with at least 5 Insurance Companies to evaluate the benefits and price being offered by the Insurance Companies.
Most Importantly, we need to be very careful in reviewing the policy terms and conditions as these conditions play a crucial role while making the claim.
Being an HR it is very difficult to access the terms quoted by the Insurer, Hence it is always suggested to take the help of an Insurance Broker who can handhold you for 365 days of the policy agreement.