Group Insurance : Key Benefits and operational aspects

Group Insurance : Key Benefits

Every employee has a query regarding their health insurance plan when they join a company and what if you are told that health insurance is a hassle free process. It would be so satisfying not to have any health check-ups prior to policy issuance or any sort of waiting period, neither for maternity benefits nor for pre-existing diseases. It sounds good right? Health insurance is a matter of great importance and It’s Group Mediclaim Policy that has become a benchmark benefit which is provided by the employer to its employees.

There are many companies providing health care insurance in India, but as a customer, its important to determine certain factors before deciding which provider will be able to stand up to your requirements in best possible manner.

Evaluation of employees need in terms of their benefits, should be superior to all the other aspects.


Employee Health Insurance Policy is a comprehensive healthcare insurance package that organizations buy for the benefit of their employees.

As per the group insurance guidelines are given by Insurance Regulatory and Development Authority of India(IRDA) the so called groups formed for this purpose could be either employer-employee or nonemployer-employee groups. People of similar social and cultural association would be count as an example of it.


The nature of a Group Health Insurance Policy for Employees is that a master policy is issued to the buyer which offers coverage to every individual in the group. In group insurance, a lot of customization goes into designing the policy on the basis of what the customer needs and the financial viability of that particular product. The terms and conditions, inclusions as well as exclusions are same for every individual being cover under the Employee Group Insurance Policy.

The Type of policy that is chosen for the employee that not only counts in their compensation structure but also has an impact on them. Companies prioritize all the benefits while selecting a policy to determine that they serve best to their employees.

One thing is common about all insurance provider: Higher the risk, higher the premium, and higher the benefit you deliver for your employees.


No Medical Check-up Required: It is not necessary for an individual to submit his or her medical check up report to get into group health plan.

 Maternity Benefits: A group health insurance provides employees with maternity benefits which is not many individual health policies cover.

Waiting Period: A group health insurance has no waiting period to avail full benefits of health care.

Pre-existing Diseases Clause: Employees are covered under pre-existing diseases from day one of the policy.

Need Not to Pay for Network Hospitals: For registered hospitals employees need not pay the bills and then get reimbursed for their expenses. They can walk into any network hospitals and get their treatment done.

Lower Premium: The premium amount of a group health insurance is much lower as compared to an individual health insurance plan. Hence, group health insurance turns to be cost effective one. According to study, It is said group health insurance is 30% cheaper than individual health plan.

Getting a Health Care cover from a company is the most effective way of having your loved ones covered all the times!


Group Gratuity Insurance: Gratuity is a statutory benefit to be provided to an employee as per the Payment of Gratuity Act, 1972. It is a lump sum amount paid out to an employee, upon his exit from employment and fulfilling the criteria prescribed in the gratuity Act.

Corporate Overseas Travel: This Policy is designed in a way that we cover all likely risks and avail extensive benefits when you are traveling overseas on business trips. There are ranges of Business Travel Insurance policies that cover your people for any accident, sickness, loss and even medical attention in an emergency that may occur while traveling.

Workmen Compensation: It offers Monetary compensation to the employees in case of medical emergencies during their employment period. This policy can be issued even to the employees who do not fall within the scope of Workmen’s Compensation Act,1923.

Group Term Insurance: It is a type of insurance coverage offered to a group of people. This coverage will provide a benefit to the beneficiaries if the covered individual dies during the defined covered period. As with other types of group benefits, this one is cheaper than individual policy coverage.

Group Personal Accident: With increased use of machinery and other equipment’s at workplaces and high traffic on roads with rash driving may result into death or partial or total disablement of employees. Therefore, the Group accident Insurance program provided to the employees is a key element of this protection.


0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply