Group Health Insurance

Group Health Insurance

Group Health Insurance (GHI) is a type of health insurance plan that provides coverage to a specific group of people such as employees of a company or members of an organization. Also known as a corporate health insurance policy, the insurance coverage under this health insurance policy usually includes accidental hospitalization, COVID insurance, daily hospital benefit, critical illness cover, maternity coverage, etc.

Why Is Group Health Insurance Required?

 These days organizations are becoming more employee-centric than before and hence they offer health insurance plans to its employees. Some of the reasons why group health insurance plans are required and beneficial for both employers and employees are:

Wide Coverage and Better Benefits: Most of the group health insurance plans provide wide coverage and elaborated benefits to the policyholders.

Option to Get Customize Cover: The health insurance policies for groups and corporate give the option to customize coverage. For example, an employer can take a plan that provides maternity cover or OPD coverage.

Affordable Premiums: Comparing individual health insurance plans with group health insurance in terms of premiums shows groups health plan as affordable. This is because the premiums that one has to pay in respect of coverage that one gets is always higher in group health plans

Features of Group Health Insurance Plans

There are several groups or corporate health insurance policies available in the market.Listed below are some common features present in all employee health insurance plans:

Advantages of Group Health Insurance Policies

Employees are the treasured part of any organization. These days more and more companies are becoming employee-centric and corporate health insurance has emerged as one of the most preferred benefits to lure new talent. It plays a crucial role in influencing the psychology of an employee. It makes him feel part of a company and thus, it curtails employee attrition rate and unrest in labor unions. Moreover, it increases their productivity which increases profitability of a business. Special insurance schemes where families are also covered for benefits make employees faithful towards their employers. Moreover, by offering coverage to your employees, you become eligible to get tax deductions under Income Tax Act. So group or Corporate health insurance policy is a win-win situation for both employees and employers.

Advantages for Employers:

Advantages for Employees:

Group Health Insurance Inclusions

The common inclusions that most of the group health insurance plans provide to its policyholders are:

Group Health Insurance Exclusions

The common exclusions that all the plans under this category have been:

Want a Healthy Workforce? We can Help!

It is no secret that employees’ value benefits of group health insurance. However, as premium costs escalate and claim procedure being stringent; employee health insurance has become a tight rope walk in India. We introduce a wide gamut of group health insurance policy products to help you in choosing best corporate insurance plans that will suit both parties i.e. employers and employees. Blending the entire  service right from expert advisory, purchase assistance and policy renewal in one package, We works towards making insurance process easy and convenient.